BAKU, Azerbaijan, October 16. The potential for the development of trade and economic relations between Russia and Kazakhstan remains colossal, official representative of the Ministry of Foreign Affairs of the Russian Federation Maria Zakharova told Trend.
"In the new geopolitical realities, Kazakhstan continues to remain one of Russia’s most important trading partners. The volume of bilateral trade turnover is constantly growing; in 2022, it amounted to about 2 trillion rubles; in 2023, from January through July, it was almost 1.5 trillion rubles. The potential for the development of trade and economic relations remains colossal," Zakharova said.
The official representative of the Russian Foreign Ministry noted that given the historically close ties between Russia and Kazakhstan, the longest border in the world, and the interconnected nature of cooperation, the Russian Federation sees broad prospects for deepening trade and economic cooperation.
From January through August 2023, the volume of trade turnover between Kazakhstan and Russia amounted to $17 billion. Exports to Russia amounted to $6.389 billion, and imports from Russia amounted to $10.611 billion.
At the same time, 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.
Kazakhstan's foreign trade turnover in 2022 amounted to $134.4 billion, and compared to 2021 in nominal terms, it increased by 32.1 percent, including exports of $84.394 billion (in nominal terms, 39.9 percent more) and imports of $50.043 billion (20.8 percent more in nominal terms).