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Kazakhstan: Kazakhstan, Russia to implement projects worth $4B

2016/10/06

Kazakh National Economy Minister Kuandyk Bishimbayev and Russian Economic Development Minister Alexei Ulyukayev signed an action plan for 2016-2017 which envisages realization of 27 common investment projects in different spheres worth over $4 billion, Kazakh ministry reported.

The action plan which is aimed at increasing the trade turnover between two nations was sighed within the Kazakh-Russian Forum of interregional cooperation held on Oct 4. in Astana.

It is planned that this action plan will help to increase trade turnover between Kazakhstan and Russia by 5-11 % in short term.

The trade turnover between two nations has decreased in recent years against a background of financial crisis. In 2015 Kazakh export to Russia fell by 32 % compared to 2014 to $4.34 billion, Kazakh import reduced by 25.9 % to 10.23 billion. In Jan. – July 2016 Kazakh export to Russia amounted to $1.9 billion (33 % down compared to the same period of 2015), Kazakh import from Russia hit 4.56 billion (28 % down).

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