OREANDA-NEWS. September 21, 2012. Vnesheconombank’s representatives participated in a Business Forum “Promoting Cooperation in Innovations and Industrial Cooperation between Kazakh and Russian Regions”, which was held as part of the 9th Interregional Forum of Cooperation between Kazakhstan and Russia in the city of Pavlodar (the Republic of Kazakhstan).

The Forum aimed to promote Russian-Kazakh trade and economic cooperation including in innovations, investments, industrial cooperation and establish joint production facilities.

In his speech Vnesheconombank Deputy Chairman Alexandr Ivanov said, “The importance of increased integration of Russia’s and Kazakhstan’s economies is growing and above all in investment cooperation. And this might enable us to use national currencies upon making reciprocal payments and the first significant step in this direction will be to extend credits in Russian rubles”.

A.Ivanov also stressed that increased interaction with its partners from Kazakhstan is strategically important for Russia’s national Bank for Development. He reminded of Vnesheconombank’s participation in a number of major investment projects on the Kazakh territory together with such financial institutions as the Kazakhstan Development Bank, the National Welfare Fund Samruk-Kazyna and the Eurasian Development Bank.

The Forum’s participants – representatives of executive authorities, financial institutions and the business community noted a significant potential of Russian-Kazakh relations and found it necessary to further form mutually beneficial business climate and create new forms of cooperation including those in the financial sector.

As part of the Forum Alexandr Ivanov held meetings with Board Chairman of the Kazakhstan Development Bank Nurlan Kusainov and representatives of other financial institutions and Russian companies interested in implementing joint projects.

Forums of Interregional Cooperation between Russia and Kazakhstan take place on a rota basis in the two countries starting with a meeting of Heads of State in 2003 in the city of Omsk. In the past years these meetings have given a considerable impetus for several major regional projects, contributed to considering a whole range of systemic issues associated with transportation, customs sector and border control.