Tokayev announced the enormous investment potential of Kazakhstan and the Russian Federation

Russia and Kazakhstan have enormous potential in the field of investment cooperation. About it stated President of Kazakhstan Kassym-Jomart Tokayev in an interview with Izvestia.

“The gross inflow of direct investment from Russia to Kazakhstan over the past 18 years has exceeded $20 billion. In turn, Kazakh investments in Russia amounted to about $6 billion,” he said.

Tokayev noted that within the framework of industrial cooperation, the countries are working on 143 joint projects worth $33.5 billion. Also, 30 projects worth about $3.2 billion have already been implemented. He clarified that now in key sectors of the economy, including mechanical engineering, metallurgy and chemical industry, work is underway on 40 projects worth $16.6 billion. As part of their implementation, more than 15,000 jobs will be created, the Kazakh leader added.

Russian President Vladimir Putin in an interview with the Kazakhstanskaya Pravda newspaper statedthat Russia is one of the largest investors in the economy of Kazakhstan. According to him, Russian investments in Kazakhstan amount to about $17 billion, and there are 6,000 enterprises with Russian participation in the republic.

Putin and Tokayev gave interviews to Kazakh and Russian media, respectively, ahead of the Russian leader’s official visit to Kazakhstan on November 9. The Kremlin reported that the presidents of the two countries will hold negotiations, during which they will discuss issues of further development of bilateral relations, prospects for interaction within the framework of integration associations in the Eurasian space, as well as current regional and international problems.

Press Secretary of the Russian President Dmitry Peskov earlier clarifiedthat Putin’s trip to Kazakhstan is not related to the interest of European states in establishing relations with Kazakhstan, since Moscow and Astana have historically developed independent relations.