Putin is visiting Astana at the invitation of the leader of Kazakhstan. Tokayev himself met his Russian counterpart in the airport.
During the talks, the sides plan to compare notes on all areas of cooperation, Kremlin spokesman Dmitry Peskov said earlier, adding that these include mutual investment.
The leaders will also exchange views on regional and international issues.
According to the Kremlin press service, Vladimir Putin and Kassym-Jomart Tokayev are expected to begin with closed-door talks, which will be followed by "more thorough Russian-Kazakh negotiations".
As a result of the summit, documents will be signed and the leaders will issue a joint press statement. Ahead of his visit, Vladimir Putin gave an interview to a Kazakh newspaper in which he stressed that a peaceful Eurasian space would be a pillar of the new world order.
"Russia believes that the establishment of a common peaceful, stable and prosperous Eurasian space is an integral part of this process," Putin said in the interview.