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Trade between Russia and Kazakhstan is expected to exceed last year's $10 billion
Trade between Russia and Kazakhstan is expected to exceed last year's $10 billion, a Kremlin official said Tuesday, ahead of President Vladimir Putin's visit to the Central Asian country. Kazakhstan, a mineral-rich republic that gained its independence from the Soviet Union in December 1991, has posted some of the strongest GDP growth rates among post-Soviet republics, averaging 9% annually between 2002 and 2005. Its booming energy sector has attracted considerable foreign direct investment, and a number of countries operate joint ventures there. "Russia-Kazakhstan trade in the first seven months of 2006 totaled $6.4 billion, and is expected to exceed $10 billion by the end of the year," the spokesman said. Vladimir Putin, who will arrive in Kazakhstan Tuesday for the third Russian-Kazakh regional forum in the city of Uralsk, will also meet his Kazakh counterpart, Nursultan Nazarbayev, to discuss stepping up economic and political cooperation, along with regional security. Nazarbayev said earlier this year that trade between Russia and Kazakhstan was up 35%, year-on-year, in 2005, reaching $10 billion. He said a number of factors explain the figure. About 1,500 Russian-Kazakh joint ventures operate in Kazakhstan, although Nazarbayev focused on achievements in the key energy sector. "We resolved a number of issues," he said after a meeting with Vladimir Putin, "including oil transit through Russia, and natural gas processing at the Orenburg gas processing plant." He added that the joint exploration of deposits in the Caspian Sea will allow both countries to double bilateral trade in the near future.
Print Trade between Russia and Kazakhstan is expected to exceed last year's $10 billion Bookmark Trade between Russia and Kazakhstan is expected to exceed last year's $10 billion

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