ASTANA, January 12 (RIA Novosti) - Russian leader Vladimir Putin praised Thursday the development of trade and cooperation with neighboring Kazakhstan.
After his Kazakh counterpart, Nursultan Nazarbayev, had said bilateral trade had increased by 35% in 2005 to reach $10 billion, Putin suggested that there was more to come from the two oil-rich states. "I am certain that we will exceed the $10-billion mark this year," he said at a meeting in Astana, the capital of Kazakhstan.
He also said 2005 had been a successful year for the development of Russian-Kazakh relations, and singled out the signing of a border agreement that finally delineated the world's largest land border, which stretches for about 7,500 kilometers (4,700 miles).
"This is a huge event in Russian-Kazakh relations," Putin said.
Putin also said the agreements on the establishment of the Eurasian Development Bank and on cooperation between Russia's state-owned Vneshtorgbank and Development Bank of Kazakhstan served as a basis for steady development of economic ties between the two countries.
"The implementation of these two serious projects is a guarantee that Russian-Kazakh economic cooperation will develop steadily," the Russian leader said.
Both Russia and Kazakhstan have posted dynamic economic growth rates in recent years on the back of high oil prices and structural reforms.
