N.Nazarbayev: Kazakh-Russian joint projects portfolio amounts to $25bln

The Head of State emphasized the importance of cooperation with Russia, “as its economy is much bigger and is more multi-sectoral.”

The President noted that both countries should cooperate in processing industries.

“We supply coal, ore for metallurgical plants and other materials. However, it is important to process them in  Kazakhstan. If we extract coal, we need to process it. If we extract iron ore, then metal and metal products must be produced here,” the President pointed out.

The Head of State emphasized also the importance of boosting cooperation in machine-building, aircraft construction and railway machinery.

“These are the sectors, we are directing our efforts on,” added the President.

“There are 6,000  Kazakh-Russian joint enterprises today. Our portfolio of would-be implemented joint projects amounts to $25 bln. If we exclude oil and gas projects, there will remain $6-7 bln for machine-building, processing, SMEs, services and other sectors. Our interaction will target namely on these spheres,”  concluded N.Nazarbayev.