Brazil is Kazakhstan's largest trading partner in Latin America and the Caribbean. Bilateral trade in 2021 increased by 95% compared to 2020 and reached $169.3 million (Kazakh exports - $72.6 million, imports from Brazil - $96.7 million). The total trade turnover in 2020 decreased compared to 2019 and amounted to $86.4 million (export - $47.4 million, import - $39.0 million). In 2019, bilateral trade doubled and reached $306.7 million (export - $51.4 million, import - $255.3 million).

Sulfur, ferroalloys, products from ferrous metals and uranium predominate in the structure of Kazakhstan's exports. Brazilian imports mainly consist of aircrafts, cane sugar, raw tobacco, fruit juices, pork and coffee.

There is a serious potential for cooperation in the field of agriculture. In September 2018, a delegation of the Ministry of Agriculture of Kazakhstan headed by Vice Minister B.Beisengaliev paid a visit to Brazil, during which they met with Brazilian Minister of Agriculture B.Maggi, Executive Director for Research and Development of the Brazilian Agricultural Research Corporation “Embrapa” S.Moretti, Director of the Brazilian Agency for Cooperation under the Ministry of Foreign Affairs of Brazil R.Pereira and Head of the World Bank in Brazil M.Reiser. Following the visit, our side expressed interest in adopting Brazilian experience in the development of training programs, training of specialists and the exchange of agricultural innovations. In February 2019, a remote signing of the Memorandum of Understanding between the Kazakhstan National Agrarian Scientific and Educational Center and the Brazilian Agricultural Research Corporation “Embrapa” took place, aimed at developing cooperation in the field of agricultural science.

In March 2019, the Vice Minister of Agriculture of the Republic of Kazakhstan, G.Issayeva, visited Brazil to negotiate with the leadership of the Ministry of Agriculture and agricultural enterprises of Brazil, during which veterinary certificates for the importation of pedigree and livestock to Kazakhstan were agreed and signed.

Kazakhstan is also interested in developing cooperation with Brazil in the mining sector. The Kazakhstan exploration company “Qazgeology” JSC plans to implement joint projects with the large Brazilian company “Vale” in the exploration of non-ferrous metals in Kazakhstan. In September 2019, in Rio de Janeiro, negotiations were held between the representatives of Qazgeology and Vale management, as a result of which a Memorandum of mutual cooperation was signed, which fixed the intention of the parties to develop and open iron, copper and nickel deposits in the Republic of Kazakhstan.

An important step in the development of investment cooperation was the decision of the world leader in the production of electrical equipment – the WEG company – in February 2020 to open a commercial representative office of WEG Central Asia in Almaty and a service hub of the company, on the basis of which it is planned to launch a plant for the production of high-tech power equipment.

The Brazilian company “Bahia Mineração”, a subsidiary of Eurasian Resources Group (ERG), whose 40% share is owned by the Government of the Republic of Kazakhstan, is implementing a project “Pedra de Ferro” iron ore production complex in the municipality of Caetite of the State of Bahia and related infrastructure projects - the marine port “Porto Sul” and the West-East Integration Railway (Ferrovia de Integração Oeste-Leste, FIOL). ERG's total investment in the iron ore complex and seaport is $ 1.6 billion.

In 2019, a contract was signed for the distribution of images from Kazeosat-1,2 satellites between “Kazakhstan Gharysh Sapary” JSC and the Brazilian company “TecTerra Geotecnologias e Meio Ambiente Ltda”, which laid the foundation for the development of mutually beneficial cooperation in the space sector.

As part of the development of cooperation in the field of tourism, in December 2018, a Memorandum of Understanding was signed between the Ministry of Culture and Sport of Kazakhstan and the Ministry of Tourism of Brazil, which provides the adoption of a specific Action Plan taking into account the priorities of the Republic of Kazakhstan in the tourism industry.

In August 2021, the Kazakh-Brazilian Business Committee was established under the co-chairmanship of the Kazakhstan Center for Industry and Export "QazIndustry" and the National Industrial Confederation of Brazil (CNI).