Kazakh President Kassym-Jomart Tokayev said trade turnover between Kazakhstan and Russia could surpass $30 billion in 2026, following a slight decline last year.
Speaking during a meeting with Russian President Vladimir Putin in Moscow, Tokayev said Russia remains one of the largest investors in Kazakhstan.
“Over the past five years, Russia has been one of the main investors in the Kazakh economy. Trade is developing successfully. According to forecasts, this year we will confidently surpass the $30 billion mark, this is a good indicator,” Tokayev said.
Trade turnover between the two countries increased by 3% in 2024 to reach $27.8 billion, but declined to $27.4 billion in 2025, Kazakhstan’s Trade Minister Arman Shakkaliyev previously reported.
Kazakhstan’s trade turnover with Russia has long been eclipsed by that with China and the European Union – both of which have reached around $50 billion per year.
Tokayev was in Moscow on a working visit ahead of Victory Day commemorations – a visit which had appeared in doubt following the threat of Ukrainian strikes on Moscow.
During the talks, the two sides discussed bilateral economic cooperation, preparations for Putin’s upcoming state visit to Kazakhstan, and the Eurasian Economic Union summit scheduled to take place in Astana on May 28-29.
According to Tokayev, Kazakhstan and Russia have implemented 122 joint industrial cooperation projects out of 177 planned over the past 20 years.
Tokayev also congratulated the Russian leader on the anniversary of victory in World War II.
“We honor the heroes of the bloodiest war in human history,” he said, noting that 57 World War II veterans remain alive in Kazakhstan.
Putin, in turn, thanked Tokayev for the visit and praised his contribution to bilateral relations.
“The fact that you found it possible to come to Moscow and be with us these days is the best proof of the level of relations between Kazakhstan and the Russian Federation,” the Russian president said.
The Times of Central Asia previously reported that Russia had tightened foreign trade procedures at the beginning of the year, a move that could affect logistics and trade flows across Central Asia.
