Kazakhstan declares interest in trade with Russia in tenge
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“Kazakhstan has very close economic ties with Russia in all significant areas, including trade in goods and services, joint ventures, mutual investments, tourism, etc.,” the ministry said.
Cooperation between the countries will continue as long as its participants are interested in it, the ministry emphasized. In 2022, the trade turnover indicator set a record and amounted to $26.1 billion. In the first quarter of 2023, trade between the countries increased by 10.1% and amounted to $6.1 billion, while Kazakhstan’s exports to Russia amounted to $2.3 billion (+39 .2%).
According to the ministry, sanctions “cannot be imposed on the country as a whole” or on a separate industry – they are applied “in relation to specific companies that violate relevant US and EU regulations.” In turn, Kazakhstan takes the necessary measures and complies with the requirements to prevent violations.
In June last year, President of Kazakhstan Kassym-Jomart Tokayev declaredthat Kazakhstan will follow Western sanctions against Russia. However, the republic does not abandon its allied obligations and will build relations within the framework of the sanctions regime, he stressed.
February 2023 Kazakhstan closed trade representation in Russia “as part of the process of optimizing the work of state bodies.”
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