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During the meeting at the Taurida Palace, Vladimir Putin noted the revolutionary advance in the two countries’ relations confirmed, in particular, by the May 2002 signing of a Protocol to the Agreement between the Russian Federation and the Republic of Kazakhstan on the delimitation of the North Caspian seabed ensuring the countries’ sovereign rights to mineral resources.

The Russian President underlined the need to develop long-term cooperation between Russia and Kazakhstan. He praised Nursultan Nazarbayev’s efforts in organising the Almaty summit on cooperation and confidence-building measures in Asia and his contribution to the establishment of the Shanghai Cooperation Organisation. Mr Putin noted that with the adoption of the SCO Charter and Declaration, the SCO members achieved a qualitative change in their cooperation within the SCO.

The Presidents also discussed Russian-Kazakh military and military-technical cooperation. President Putin stressed the need for coordinated efforts of the two countries’ defence industry sectors and enterprises that used to work jointly before.

Mr Putin and Mr Nazarbayev were present at the signing of an inter-governmental agreement on oil transit and an agreement establishing Kazrosgas, a joint venture between Russia and Kazakhstan in the gas sector.

At the joint news conference with Mr Nazarbayev, Mr Putin said that the signed documents would have far-reaching consequences for energy policy in Europe and the world. The two new documents are an extension of the accords on the Caspian seabed but they have their own significance creating a solid foundation for cooperation in the energy sector. According to President Putin, both documents fully meet the two countries’ interests.