Kazakhstan and Russia boost trade ties

Trade between Russia and Kazakhstan could rise to about $10 billion in 2006, Russian Prime Minister Mikhail Fradkov said at a meeting with his Kazakh counterpart Danial Akhmetov on Friday.

“Trade and economic relations are developing dynamically, and I hope that we will reach the level of $10 billion this year,” Fradkov said.

The two countries also have large joint projects in the field of gas and transport, which open good prospects, Fradkov noted. “We have something to report at tomorrow’s meeting of the Eurasian Economic Community,” the Russian premier said.

For his part, Akhmetov said Kazakh authorities were satisfied with the implementation of Kazakhstan’s space program. Kazakhstan hopes to develop the program with the help of Russia’s Rosaviakosmos space agency.

The Kazakh Prime Minister also said that Kazakh experts were examining the possibility of building a new traffic artery from Western Europe to China.

Kazakhstan is interested in joint projects with Russia’s leading oil companies Rosneft and LUKoil. The Kazakh government is considering several projects with these companies, according to Akhmetov.

From January to August, trade turnover between Russia and Kazakhstan amounted to $7.739 billion, up 24.8 percent on the year. Russia accounts for more than a quarter of Kazakhstan’s foreign trade.