Nazarbayev, Medvedev stress importance of bilateral economic growth

ASTANA – Russian Prime Minister Dmitry Medvedev met with Kazakh President Nursultan Nazarbayev and Prime Minister Bakytzhan Sagintayev Nov. 1 in Astana to discuss bilateral relations.

Dmitry Medvedev and Nursultan Nazarbayev (L to R). Photo credit: akorda.kz.

Nazarbayev stressed during his meeting with Medvedev the importance of expanding economic cooperation and highlighted the countries’ cooperation within international organisations, such as the Eurasian Economic Union (EAEU), the Collective Security Treaty Organisation (CSTO) and the Commonwealth of Independent States (CIS).

The Kazakh President reaffirmed the positive relations between the two countries and thanked Medvedev for helping build those relations.

Medvedev said recent trade growth was an example of positive bilateral relations.

“Kazakhstan is Russia’s strategic partner and ally. We have intensive top-level contacts and advanced relations between the governments and business communities. During the year, we often meet at various venues. It is good, because without such communication, it would be impossible to build a full-fledged interaction,” said Medvedev.

Kazakh-Russian trade between January and August grew 8.3 percent over the same period in 2017 to $11.3 billion. Kazakh exports to Russia in that period grew 13.3 percent to $3.4 billion.

Russian direct investment in Kazakhstan between 2005 and 2018 was $13.4 billion. Kazakh investment in Russia during the same period was $4 billion. In Kazakhstan, there are more than 9,000 businesses with Russian participation.

Medvedev also met later in the day with Sagintayev to discuss integration, trade and investments. They discussed ongoing and planned projects in fuel and energy, transport and transit, technology and at the Baikonur Cosmodrome. There is a long-term development programme for the city of Baikonur.

The two prime ministers agreed on the importance of creating a modern transport corridor for external partners, particularly the Eurasia high-speed freight and passenger transit corridor in the direction of China – Kazakhstan – Europe. 

The corridors, they agreed, will spur economic growth, provide economic opportunities for remote regions, increase investment attractiveness and contribute to bilateral cooperation. Sagintayev and Medvedev also discussed the Astana International Financial Centre (AIFC) and Kazakhstan’s privatisation programme. Sagintayev encouraged Russian investors to participate in the programme.

They also discussed the upcoming 15th Forum of interregional Kazakh-Russian cooperation in Petropavlovsk city under the theme “New approaches and trends in the development of tourism” later in November  

Sagintayev said the meeting would enhance Kazakh-Russian cooperation and help define medium-term cooperation plans.

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