Vladimir Putin: "Even in the challenging economic environment, we will develop trade with Kazakhstan"

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Russian President delivered a speech at the XIII Forum of Interregional Cooperation of Russia and Kazakhstan in Astana

"For Russia, Kazakhstan – is a strategic partner and ally. Our cooperation is multi-faceted and comprehensive, which steadily grows in all directions. Our bilateral trade and investment relations reached a really high level", - said Vladimir Putin.

Russian President cited statistics that 9 billion USD of Russian capital was accumulated in Kazakhstan, 3 billion was invested by Kazakhstan in Russia. The two countries jointly created 6 thousand companies. "Cooperation in virtually all sectors of the economy deepens. Just last year, 150 Russian businessmen delegations visited Kazakhstan. Kazakhstan takes the second place among Russia's CIS trade partners. This means that there are prospects, there is much to improve. In 2015, turnover amounted to 15.5 billion USD", - he added.

At the same time Putin noted that the volume of mutual trade of Kazakhstan and Russia declined. "The decline is caused mainly by the market conditions - first of all, the continuing instability at the global markets, currency fluctuations and high volatility in prices of raw materials. But even in such difficult conditions with the help of the business community of both countries, we will continue to make efforts to restore trade to the trajectory of sustainable growth and development. We will continue to promote the convergence of the economies of the two countries, creating the preconditions for launching new projects", - he said.

The head of the Russian Federation lamented on the fact that, despite elimination of obstacles for movement of goods, services, capital and labor between the two countries, there are still such barriers. "Yesterday I met with representatives of the Russian business in Orenburg. There are things that, apparently, have been eliminated a while ago, but they still take place. This is purely infrastructural basic things. There are no borders, but there are still limitations", - he said.

"New perspectives for joint projects launched in the country, offer opportunities for launch of advanced development programs, including in regions close to Kazakhstan. I am referring to the Urals. From September this year, the program is running. This border region with Kazakhstan has a long tradition of close cooperation in the bilateral format. And Kazakhstan's business could be one of the first foreign investors to take advantage of this special economic zone", - said Putin.