Moscow and Astana have seen a remarkable increase in trade over the past decade. During a recent Russian-Kazakh business council meeting in Moscow, officials announced that trade turnover between the two countries had reached $27.7 billion in 2024, marking a new record.
Growing Economic Ties
Sergey Katyrin, President of the Chamber of Commerce and Industry of Russia, revealed that around 80 Russian regions are actively engaged in trade with Kazakhstan. He expressed optimism about the future, suggesting that trade turnover could soon hit the $30 billion mark.
Kazakhstan’s Chairman of the Chamber of International Commerce, Murat Karimsakov, emphasized that Russia holds a 20% share in Kazakhstan’s foreign trade, underscoring the significance of their economic relationship.
Industrial Cooperation and Investments
Over 23,000 Russian-affiliated companies currently operate in Kazakhstan, contributing to economic growth. Additionally, 171 industrial projects, amounting to $52.9 billion, are underway, further strengthening bilateral economic ties.
Future Prospects
Kazakhstan’s Ambassador to Russia, Dauren Abayev, noted that mutual trade has doubled over the past decade, demonstrating a consistent upward trend. Both nations are committed to expanding cooperation and ensuring steady trade growth in the coming years.
With trade flourishing, Russia and Kazakhstan’s economic partnership is set to reach new heights, benefiting industries and businesses on both sides.
