Kazakhstan and Russia are set to launch 27 new joint projects worth $8 billion, signalling a notable expansion in bilateral economic cooperation.
The announcement was made during Kazakh Prime Minister Olzhas Bektenov’s official visit to Moscow on April 21, where he met with his Russian counterpart, Mikhail Mishustin.
“This is a historic figure,” Bektenov said, referring to the $4 billion in Russian investment Kazakhstan received in 2024—a 32% increase over the previous year.
Currently, more than 23,000 companies with Russian participation operate in Kazakhstan, making up nearly 40% of all foreign enterprises in the country. These companies are active in critical sectors such as mechanical engineering, metallurgy, and chemicals. Notably, one in every three foreign-capital enterprises in Kazakhstan involves a Russian partner.
Bilateral trade reached $27.8 billion in 2024, and both nations aim to raise that to $30 billion in the near term. Over the past 20 years, Russian investors have poured $26 billion into Kazakhstan, while Kazakh businesses have invested approximately $9 billion in Russia.
Moscow continues to underscore Kazakhstan’s role as a strategic partner in the Eurasian region, with nearly 70% of trade conducted through direct cooperation between regional authorities.
Meanwhile, European interest in Central Asia is growing. Italian Prime Minister Giorgia Meloni is set to visit Uzbekistan on April 25–26, followed by a trip to Astana to participate in the inaugural “Central Asia–Italy” summit. Leaders from all five Central Asian nations are expected to attend.
Italy’s engagement with Kazakhstan is especially robust. Italian companies, active in the country since 1992, are involved in energy, agriculture, mechanical engineering, and hydropower projects. The country is already one of Kazakhstan’s top three trading partners and ranks fifth in foreign direct investment. In 2024 alone, bilateral trade has approached $20 billion.
This European outreach follows the recent Central Asia–EU Summit in Samarkand, where the European Union unveiled a €12 billion investment package aimed at deepening economic ties with the region.
Kazakhstan’s global importance is also rising due to its vast reserves of rare earth minerals. Just days before the EU summit, Kazakh authorities announced the discovery of a major rare earth deposit in the Karaganda region, estimated to hold nearly one million tons of critical elements such as cerium, lanthanum, neodymium, and yttrium—materials vital to digital and green technologies.
The “Central Asia plus one” format has become a popular diplomatic tool for Western countries — whether it’s the EU, Germany, the United States, Japan, or now Italy. As global competition for influence intensifies, Central Asia is emerging as a focal point of international diplomacy. And each new summit is no longer just a formality — it’s part of a broader geopolitical contest for the heart of Eurasia.
Kazakhstan's Energy Minister Yerlan Akkenzhenov met with OPEC Secretary General Haitham AlGhais in Astana today, reiterating the nation's strong commitment to the Declaration of Cooperation and joint efforts to ensure a stable global oil market.
The foreign ministers of Kazakhstan and Burkina Faso met in Astana, marking the first such visit in history and setting the stage for deepened cooperation across various sectors, as Kazakhstan actively expands its engagement with the African continent.
Kazakhstan’s Deputy Prime Minister and Foreign Minister Murat Nurtleu will make an official visit to the Islamic Republic of Iran on June 7, 2025, following an invitation from the Iranian government, the Ministry of Foreign Affairs of Kazakhstan announced on Monday.
Kazakhstan’s banking sector is experiencing robust growth in 2025, led by a surge in retail and consumer lending, with total loans rising sharply despite high interest rates and macroeconomic uncertainties.
Kazakhstan’s economy grew by 6% in early 2025, showing strong momentum across major sectors.
Azerbaijan and China are exploring expanded cooperation to increase the number of container block trains traversing the Middle Corridor, a vital East-West freight route linking China with Europe via Central Asia and the South Caucasus.
A devastating drought gripping parts of China’s key wheat-growing regions has severely cut harvest yields for many farmers, raising fresh concerns about agricultural resilience in the world’s largest wheat producer.
Azerbaijan is advancing its global climate leadership with an ambitious new initiative to expand climate financing to $1.3 trillion, in collaboration with Brazil, following the landmark COP29 summit held in Baku.
Russian negotiator Medinsky reveals Ukraine's 30/60-day ceasefire bid for leader talks. Russia ready for June 7-9 prisoner swap and hints at Putin-Zelenskyy summit if "properly prepared"
A wave of tariff hikes and retaliations between the United States and China in early 2025 has forced a strategic recalibration of China’s export economy, with data showing dramatic shifts in market focus, product strategy, and logistics.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
In a major blow to one of President Donald Trump’s key economic policies, a US federal court has blocked the administration’s sweeping global tariff regime, ruling that the White House overstepped its constitutional authority.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
China on Wednesday sharply criticized U.S. Republican presidential candidate and Secretary of State Marco Rubio over his remarks commemorating the 1989 Tiananmen Square protests, accusing the United States of “distorting historical facts” and attacking China’s political system.
Kazakhstan and Kyrgyzstan have agreed to coordinate efforts in monitoring and controlling locust infestations along their shared border, as concerns mount over potential threats to regional agriculture.
A vibrant cultural exchange fair celebrating the rich traditions of Kazakhstan and China drew large crowds to Abai Square in Almaty this week, offering visitors an immersive experience into the music, cuisine, and crafts of both nations.
Azerbaijan and China are exploring expanded cooperation to increase the number of container block trains traversing the Middle Corridor, a vital East-West freight route linking China with Europe via Central Asia and the South Caucasus.
A devastating drought gripping parts of China’s key wheat-growing regions has severely cut harvest yields for many farmers, raising fresh concerns about agricultural resilience in the world’s largest wheat producer.
Azerbaijan and China are exploring expanded cooperation to increase the number of container block trains traversing the Middle Corridor, a vital East-West freight route linking China with Europe via Central Asia and the South Caucasus.
A devastating drought gripping parts of China’s key wheat-growing regions has severely cut harvest yields for many farmers, raising fresh concerns about agricultural resilience in the world’s largest wheat producer.
Azerbaijan is advancing its global climate leadership with an ambitious new initiative to expand climate financing to $1.3 trillion, in collaboration with Brazil, following the landmark COP29 summit held in Baku.
Russian negotiator Medinsky reveals Ukraine's 30/60-day ceasefire bid for leader talks. Russia ready for June 7-9 prisoner swap and hints at Putin-Zelenskyy summit if "properly prepared"
A wave of tariff hikes and retaliations between the United States and China in early 2025 has forced a strategic recalibration of China’s export economy, with data showing dramatic shifts in market focus, product strategy, and logistics.
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