Ushakov named Russia one of the largest investors in Kazakhstan's economy

Russia is one of the largest investors in Kazakhstan and has invested about $13 billion in the country's economy, Russian presidential aide Yuri Ushakov told reporters on Tuesday, November 26.

"I would like to note that Russia is one of the largest investors in Kazakhstan. The total volume of accumulated Russian capital investments is about $13 billion. More than 23 thousand business structures with Russian capital and Russian participation operate in the republic. More than 60 major joint projects in all key sectors of Kazakhstan's economy are being implemented," he said.

Ushakov also reminded that last year trade turnover between Russia and Kazakhstan broke a new record and came close to $30 billion, with the share of national currencies in mutual settlements amounting to almost 90%, the Russian presidential aide said.

Not just business: Putin and Tokayev to address the Forum of Regions

In what areas cooperation between the regions of Russia and Kazakhstan is developing

Russian President Vladimir Putin 's state visit to Kazakhstan will take place November 27-28. The head of state will discuss with his Kazakh counterpart Kasym-Jomart Tokayev the further development of Russian-Kazakh relations.

The leaders will also sign a number of documents and address the participants of the Forum of Interregional Cooperation between Russia and Kazakhstan in Ufa via video link. In addition, in Astana, Putin will attend a session of the Collective Security Council of the Collective Security Treaty Organization (CSTO).

Earlier, on October 25, Putin drew attention to the successful development of Russian-Kazakh relations in the spirit of strategic partnership and cooperation, as well as the active interaction of the two countries within the framework of multilateral associations. He expressed confidence that through their efforts the two countries would achieve further growth of bilateral ties.