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It is in Russia's and Kazakhstan's mutual interest to broaden investment cooperation and strengthen the financial mechanisms for cooperation

March 19, 2007

President Vladimir Putin and President of Kazakhstan Nursultan Nazarbayev had a broad-ranging discussion on expanding trade and economic cooperation between the two countries at talks in Moscow.

The two leaders examined the implementation of agreements reached earlier, in particular on the transit of energy resources, developing innovative projects in the fuel and energy sector and establishing joint ventures in this sector. Scientific and technical cooperation offers a broad spectrum of promising opportunities, above all in making more efficient use of the Baikonur Cosmodrome and developing the Caspian Sea’s resources. Mr Putin noted that the two countries have taken their cooperation in the nuclear sector to a new level.

Earlier today, a meeting of the Russian Government Cabinet discussed the issue of creating a uranium enrichment centre with Kazakhstan’s participation. Mr Nazarbayev confirmed at the talks today that Kazakhstan is interested in taking part in this project.

At the Cabinet meeting, Deputy Prime Minister Sergei Naryshkin reported to Mr Putin on the state of progress in forming a customs union. Agreements have already been reached on the structure for the different components of a customs union between Russia, Kazakhstan, and Belarus that would entail harmonising foreign trade regulations, creating a common customs territory and establishing national management agencies.

March 19, 2007