Putin and Nazarbayev are unhappy with the collapse in trade between Russia and Kazakhstan
The volume of trade between Russia and Kazakhstan decreased by 30%: from $20 billion in the pre-crisis period to $15,5 billion in 2015. Presidents Vladimir Putin and Nursultan Nazarbayev announced this today in Astana. They expressed their readiness to return to previous trade volumes.
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“The decline was caused mainly by market factors - primarily the ongoing instability in global markets, currency fluctuations, as well as high volatility in commodity prices. We need to return trade and economic relations between Russia and Kazakhstan to the trajectory of sustainable development and growth,” Putin said.
“Most of the reasons are external: sanctions, reduction in the cost of commodity goods. But still, even in the first half of the year, our trade turnover reaches almost $6 billion. In these conditions, we need to give a new impetus to increase trade turnover; all the prerequisites for this exist,” Nazarbayev said.
Putin is confident that the business community of both countries will help restore the previous volumes of trade. Businessmen of Russia and Kazakhstan, according to the Russian leader, are interested in “expanding the export of non-raw materials, reducing administrative barriers to trade, and forming a unified transport and logistics complex.”
Putin promised that the Russian side would take an active part in EXPO Astana 2017 and could become a co-organizer of over a hundred similar events.
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