ASTANA (Sputnik) — Russian Economic Development Minister Alexei Ulyukayev and Kazakh National Economy Minister Kuandik Bishimbayev have agreed a batch of draft economic projects worth over $4 billion to diversify bilateral trade, the Kazakh ministry said Tuesday.
"A list of measures has been drafted for 2016-2017 in order to deepen bilateral trade. The joint action plan sets out 27 projects across a wide range of economic spheres, worth over $4 billion," the statement released by the National Economy Ministry read.
Kazakhstan hopes that the projected economic measures will increase its trade turnover with Russia by 5-11 percent in the medium term. In its turn, Russia is exploring opportunities for supplying the Central Asian nation with natural gas.
