Kazakhstan, Russia intend to increase trade turnover to $40 bln
Kazakhstan, Astana, June 7 / Trend D. Mukhtarov /
Kazakhstan and Russia intend to increase the volume of mutual trade turnover from the current $24 billion to $40 billion, Kazakh President Nursultan Nazarbayev said after signing the Russian-Kazakh agreements on Thursday.
The Kazakh President said priority will be cooperation between the two countries in energy, cooperation in the Caspian region and in the nuclear field.
Russian President Vladimir Putin, in turn, noted that the parties discussed cooperation in the petrochemistry and engineering. He said the Russian AvtoVAZ giant plans to invest in Kazakhstan and to establish production of up to 100,000 cars per year here.
Putin said that the current level of turnover was achieved due to the removal of administrative barriers in the Customs Union, which is the result of the integration process between Russia and Kazakhstan.
Putin noted that the idea of creating a common economic space (CES) belongs to Nazarbayev.
The next step will be establishment of a Eurasian Union, Putin said.
Establishment of a Eurasian Union is planned for 2015.