Kazakhstan and Russia set a task to compensate for the decline in trade turnover in 2021

On February 10, 2021, the Minister of Trade and Integration of the Republic of Kazakhstan B. Sultanov met with the Minister of Economic Development of the Russian Federation M. G. Reshetnikov at the Ministry of Economic Development of the Russian Federation in Moscow.

During the meeting, the parties noted that, despite the restrictions associated with the spread of the COVID-19 coronavirus infection, the economic cooperation of the Republic of Kazakhstan with the Russian Federation has demonstrated resistance to external challenges.

The bilateral trade turnover in January-November 2020 decreased by 4.6 % (to $ 17.2 billion) compared to the same period in 2019. The parties noted that in 2020, the volume and dynamics of mutual trade were affected by anti-epidemic restrictions. As they are removed and the situation normalizes in 2021, the losses of the previous year will be compensated and the trade turnover between the countries will be able to reach a trajectory of sustainable growth.

During the meeting, the parties also discussed issues of further bilateral cooperation and partnership within the framework of the EAEU.

An agreement was reached to organize regular contacts at the level of the leadership of the Ministry of Trade and Integration of the Republic of Kazakhstan and the Ministry of Economic Development of the Russian Federation in order to develop economic cooperation between the countries in bilateral and multilateral formats.

 

Sincerely, Public Relations Department (press service)
Ministry of trade and integration of the
Republic of Kazakhstan

Phone: 8(7172) 74-98-94
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