Source Pravda.Ru

Russia, Kazakhstan to Boost Bilateral Commodity Turnover

If revised, excise taxes on a number of commodities would boost trade between Russia and Kazakhstan, Kazakh Prime Minister Imangali Tasmagambetov said at a news conference following a meeting of the prime ministers of the CIS member countries in Moscow Friday.

Kazakhstan is one of Russia's ten largest trade partners, and their commodity turnover surpasses US $4 billion, said the Kazakh premier.

Russia's trade turnover with the Commonwealth of Independent States makes up 18% of its overall foreign trade, while trade contacts with Kazakhstan account for 3 to 4% of the figure, said the premier.

The decline in bilateral trade was not dramatic in 2002 and was due to the market situation, according to Mr Tasmagambetov.

Russia has always been Kazakhstan's major strategic partner, emphasised the premier.