Astana: Kazakh President Kassym-Jomart Tokayev announced expectations for trade turnover with Russia to surpass $30 billion soon, reflecting the strengthening economic partnership between the two nations. This announcement was made during a meeting with Russian President Vladimir Putin, who was on a state visit to Kazakhstan's capital, Astana.

According to Anadolu Agency, Tokayev emphasized the significant role Russia plays in Kazakhstan's development, noting that Moscow remains the foremost source of foreign direct investment in the country. He stated that Russia is currently the leader in direct investment into Kazakhstan's economy, amounting to $29 billion, and expressed intentions to continue cooperation in this direction.

The two nations are collaborating on 177 joint projects, with a combined investment volume of approximately $53 billion. Tokayev highlighted the indispensable role of Russia in developing Kazakhstan's economic potential. Meanwhile, Russian President Putin praised the cooperation between Moscow and Astana within international organizations, describing it as an exemplary constructive interaction in international affairs.

Putin also addressed attempts by Russia's adversaries to hinder the country's economic growth, stating that these attempts have failed. He noted that Russia continues to rank fourth globally in purchasing power parity, following China, the US, and India, while Tokayev pointed out that Russia holds the top position in Europe by this measure.

In parallel discussions, Kazakh Energy Minister Erlan Akkenzhenov revealed talks between Kazakhstan and Russia on launching a gas pipeline to China, potentially named Power of Siberia 2. This pipeline, with a capacity of up to 35 billion cubic meters of gas, would traverse Kazakhstan's territory. Akkenzhenov emphasized Kazakhstan's readiness to provide necessary conditions and guarantees for the pipeline, which would also supply blue fuel to the northern and eastern regions of Kazakhstan.