(MENAFN- Trend News Agency) ASTANA, Kazakhstan, December 6. Kazakhstan and
Russia will strengthen mutually beneficial trade, economic, and
investment cooperation, Trend reports.
This topic was discussed during a meeting between the Minister
of National Economy of Kazakhstan Alibek Kuantyrov and the Minister
of Economic Development of Russia Maxim Reshetnikov in Moscow,
Kuantyrov noted that Russia is one of the important trade and
economic partners of Kazakhstan.
Mutual trade turnover has increased by more than 30 percent in
the last three years. Mutual commerce totaled about $19 billion at
the end of the first nine months of 2023, a record figure.
Furthermore, the ministers of the two nations discussed concerns
concerning the development of SMEs. According to Kuantyrov, the
number of functioning SMEs in Kazakhstan has increased to 36.4
percent, with a target of 40 percent by 2030.
According to the minister, the increase in the number of
functioning SMEs in Kazakhstan is linked to greater digitalization
and government support.
Furthermore, the parties addressed government assistance
measures to encourage international investment.
The volume of trade turnover between Kazakhstan and Russia in
2022 amounted to $26.123 billion. Kazakhstan's exports to Russia
during the reporting period amounted to $8.78 billion, while
imports amounted to $17.34 billion.
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