By Kamila Aliyeva
The trade turnover between Kazakhstan and Russia may reach $ 18 billion by the end of the year, Russian Trade Representative in Kazakhstan Alexander Yakovlev said on the sidelines of the 26th Kazakhstan international conference “Oil and gas - KIOGE 2018”, Kazinform reported.
“Russia annually invests more than $ 1 billion into the economy of Kazakhstan. More than 100 investment projects of Russian companies are being implemented or are being prepared for the implementation on the territory of Kazakhstan, therefore, the trade turnover between our countries is also growing. If last year it reached $ 16 billion, then by the end of 2018, according to our forecasts, this figure will be $ 18 billion, that is, the expected growth is $ 2 billion. We expect that by the end of 2020 the trade turnover between our countries will be $ 24-24.5 billion,” the trade representative said.
Kazakhstan's projects in Kazakhstan today, so the trade turnover between our countries is growing. If last year it reached $ 16 billion, then by the end of 2018, according to our forecasts, this figure will be $ 18 billion, that is, the expected growth of $ 2 billion. We expect that by the end of 2020 the trade turnover between our countries will be $ 24-24.5 billion, "the trade representative said on the sidelines of the 26th Kazakhstan international conference" Oil and gas - KIOGE 2018 ".
In the structure of Russian-Kazakh trade turnover, including in the oil and gas industry, the leading place is occupied by computer-technical equipment with high added value - about 22 percent.
From its part, Kazakh companies actively invest in the Russian economy, Yakovlev stressed.
By the end of 2017, Kazakh companies sent more than $600 million to the Russian economy. The growth compared to 2016 was more than 60 percent. In particular, Kazakh companies are actively investing in construction and agriculture. And for seven months of this year, Russian exports to Kazakhstan grew by about 8 percent, and Kazakhstan's to Russia - by more than 12 percent, he said.
“Russian companies are focusing their attention on the sphere of machine building and the agro-industrial complex. Speaking of engineering, it is the assembly of Lada cars in Ust-Kamenogorsk and the Rostselmash project in Kokshetau. Together with the Kazakh partners, the Russian enterprise launched the assembly of harvesters at the Vektor plant,” the trade representative recalled.
He went on to say that more than 2,000 Russian companies visit Kazakhstan every year.
"Only the Russian export center represents 35 companies. Today, 33,000 joint ventures with foreign capital operate in the Kazakh market, of which 6,000 are already working and 10,000 are registered Russian companies,” he said.
Speaking about the perspectives of Kazakh-Russian economic cooperation, the trade representative noted that Russian companies have a special interest in active cooperation in the field of machinery and nuclear equipment.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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