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HomeBusinessKazakhstan will close the trade representation in Russia. Why?

Kazakhstan will close the trade representation in Russia. Why?

At the same time, the official authorities of the republic note that the Russian Federation remains the main trade and economic partner of Kazakhstan.

The Ministry of Trade of Kazakhstan is reformatting trade cooperation in the Russian Federation. The authorities of the republic decided to abolish the trade representation of the Republic of Kazakhstan in the Russian Federation. The draft of the relevant resolution has been published on the Open NPA website, the press service of the MTI RK reports .

The decision was made due to the fact that “all institutional conditions have been created for the Kazakh business to work in the Russian direction and resolve all operational issues. At the same time, the released units will be used to strengthen the diplomatic presence of Kazakhstan in other countries.”

It is emphasized that the closure of the trade mission in the Russian Federation will not affect the development of bilateral relations in general, since Russia is the main trade and economic partner of Kazakhstan.

The Ministry of Trade added that today about 8,000 companies with Russian participation and 3,348 joint ventures operate in Kazakhstan. On the territory of VDNKh in Moscow, there is a trade and exhibition center of international importance “Kazakhstan”, “whose tasks include the promotion of cultural, humanitarian and trade and economic cooperation.”

“In Russia, taking into account the functionality to promote economic diplomacy, in addition to the embassy of the Republic of Kazakhstan in the Russian Federation, consulates general in the cities of St. Petersburg, Omsk, Kazan and Astrakhan work effectively. At the same time, the issue of opening the Consulate General of Kazakhstan in Yekaterinburg is being worked out.

Further work on trade and economic cooperation between Kazakhstan and the Russian Federation will also be continued through the partner network of QazTrade CRTP JSC, which is built in all major cities and regions of Russia,” the ministry stressed.

Trade turnover between Kazakhstan and Russia in January-November 2022 amounted to $23.6 billion, which is 6.8% higher than in the same period of the previous year ($22.1 billion). In 2021, the trade turnover between Kazakhstan and Russia amounted to $24.6 billion.

SourceForbes
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