Kazakhstan and Russia are expanding bilateral cooperation

Kazakhstan and Russia are expanding bilateral cooperation. The two countries are building up trade and economic ties. Last year, mutual trade exceeded US$17 billion. This is 30% higher compared to 2016. The states are actively developing investment cooperation, too. Russia invested US$10 billion in Kazakhstan. In return, Kazakhstan invested US$4 billion into Russian economy. The topics on further strengthening of the partnership were discussed at an international conference in Astana.

KAZBEK MAIGELDINOV, RESEARCHER, LIBRARY OF FIRST PRESIDENT OF KAZAKHSTAN:

 - Relations between Kazakhstan and Russia are based on multilateral ties. It is not only political and trade relations, but also security topics as part of a collective agreement. In addition, meetings are held between the border guards of our countries. Inter-parliamentary meetings between the Russian Duma and the Kazakh Parliament of are also held.

The meeting participants discussed development of the digital economy and new technologies in the business environment and financial sector. According to communications director of the Digital Economy, Matvei Alekseyev, today the data becomes the new oil. Information can be turned into useful solutions. However, this requires the ability to work with data.

MATVEY ALEKSEEV, SPOKESPERSON, DIGITAL ECONOMY NON-PROFIT ORGANIZATION, RUSSIA:

 - The greater part of any branch of the economy that surrounds us is a subject to some sort of digitization. Take for example, the same data. Digital economies need digital people. Therefore, the focus should be on the human capital and education of young people as well as different categories of people. It is necessary to create accelerators and their own zones, in which they will increase their digital competencies.

Representatives of the two countries also discussed bilateral relations as part of the EEU and prospects for Eurasian economic integration in general.