Russia Remains Major Trading Partner for Kazakhstan
Russia remains one of the major trading partners for Kazakhstan. Trade turnover between the countries totaled more than US$17 billion in 2018.
Aktobe region is benefiting from the close economic ties with Russia. There are more than 700 foreign companies in the region and half of them are Russia-invested enterprises. The Kazakh entrepreneurs are enhancing beneficial cooperation with Russia’s Orenburg region. Producers from both countries will have a chance to expand the export capacities during the second industrial fair titled ‘Made in Kazakhstan’ that will be held as part of the international forum ‘Orenburg Region is the Heart of Eurasia’ in October.
‘We exported products worth about US$1.5 billion in 2018. Our main exporting items are metallic ores and chrome concentrate. Meanwhile, we import several food products, timber and construction materials. As part of our cooperation, Aktobe region is actively enhancing cultural, social and economic ties with Orenburg region,’ says Almas Salykbayev, governor’s office spokesman.
Kazakhstan’s another cross-border region, Pavlodar is building cooperation with Russia and other EAEU member states. Large exporters include a calcinated petroleum coke manufacturing plant, caustic soda and chloralkali production enterprise. Both production facilities are located in the Pavlodar Special Economic Zone. Two more enterprises - aluminum foil and extrusion manufacturing plant, a light-alloy car disc manufacturing enterprise – will be put into operation in the region soon.
Aibek Tursyn Galiyev, head of the Pavlodar Special Economic Zone said that 40% of the total of the manufactured goods are exported abroad. ‘We expand the range of exported products every year. At the moment, we export more than 16 types of products. In general, among the EAEU countries, more than 80% of our export is attributed to Russia, which shows that Russia is our main export partner,’ Galiyev added.
Local entrepreneurs are negotiating the terms of a contract with a transnational Italian company aimed to build a chemical reagents and fuel additives plant. It will be a breakthrough project in the region with a direct investment worth US$2.5 billion.