Moscow, 31 May 2022 (TDI): Mikhail Mishustin, Prime Minister of the Russian Federation, met with Alexander Smailov, Prime Minister of the Republic of Kazakhstan, at the Government House in Moscow.

The visit followed the agreements that were signed between the Presidents of Russia, Vladimir Putin, and Kassym-Jomart Kemelevich Tokayev of Kazakhstan on May 16 in Moscow.

Mikhail Mishustin’s Speech

Mikhail Mishustin, Prime Minister of the Russian Federation started his speech by highlighting how much the friendship with Kazakhstan is appreciated along with excellent neighborly ties, and partnership.

He said that despite the sanctions imposed on Russia, they have maintained economic stability and the balance of the ruble exchange rate.

Russia prioritizes, among other things, expanding trade and economic ties with Kazakhstan. Mutual commerce hit a new high of $25 billion last year.

According to the statistics of the first quarter of this year, its volume climbed by 12.5 percent over the same time in 2021, totaling around $5.8 billion, added Mishustin.

In addition, he said that they are seeing promising possibilities for the sectorial execution of the import substitution program. Conditions exist for the creation of new strategic cooperative initiatives in industry, engineering, transportation, energy, and the digital economy. The intergovernmental commission on economic cooperation is always monitoring these issues.

As well as, the Russian federation recommends that they actively promote interregional and investment cooperation. Over the last 15 years, Russian direct investment has totaled over $17 billion. Kazakhstani businesses are growing their capital investments in the Russian economy.

Russia is delighted that Kazakhstan is this year’s exhibition partner nation. Many new agreements and commercial contracts are most likely to be signed at the Inno prom site, ensuring further growth in the mutual trade turnover.

Concluding, he remarked that they compare timepieces to the execution of the agreements achieved during the leaders’ meetings.

Alexander Smailov’s Speech

Alexander Smailov, Prime Minister of the Republic of Kazakhstan, started his speech by adding that Kazakhstan and Russia have a long history of high levels of cooperation throughout the whole spectrum of bilateral ties, which is evidenced by the intensity of meetings at all levels.

He added that Kazakhstan’s administration is eager to expand and improve mutually beneficial cooperation with the Russian Federation in all fields. They confront the challenge of expanding bilateral trade and investment.

Further, Kazakhstan’s largest trading and economic partner is the Russian Federation. They saw a third increase in mutual trade last year, and a record amount of $24 billion.

The good dynamics continue in the current year. The volume of commerce climbed by $7.2 billion in four months.

The two countries are making systematic efforts for progress.Β In this regard, it is critical to complete a comprehensive program of economic cooperation between these nations for the period 2021-2025 as soon as possible.

The Kazakh-Russian intergovernmental commission plays a significant role in cooperation.
Additionally, he states that they are eager to begin collaborative initiatives.

In addition to bilateral collaboration, Kazakhstan works closely with regional organizations like as the EAEU, CIS, CSTO, SCO, and CICA.

The Republic of Kazakhstan sees EAEU collaboration as a vital tool for the dynamic growth of trade and economic cooperation for the benefit of its population.

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