CA countries increased trade turnover significantly – Kazakh President
In the Kazakh Head of State’s words, the CA countries together with Russia could fully utilize the existing potential in regional economic cooperation.
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Owing to the joint efforts of the countries of Central Asia it was possible not only to return but significantly increase it above the post-pandemic levels, Kazakh President Kassym-Jomart Tokayev told the ‘Central Asia – Russia’ Summit, Kazinform correspondent reports.
In the Kazakh Head of State’s words, the CA countries together with Russia could fully utilize the existing potential in regional economic cooperation.
The most important item on the agenda is to maintain a high level of human connection between our countries. It is necessary to make joint efforts to keep and bolster our centuries-long ties of friendship, good-neighborliness, strategic partnership and alliance. The new format will certainly give an impetus to the interaction in Central Asia," said the Kazakh President during the Summit.
According to him, since the first consultative meeting of the leaders of the Central Asian countries in Kazakhstan in 2018 the cooperation has turned out to be sustainable.
Owing to the joint efforts of the countries of Central Asia it was possible not only to return but significantly increase it above the post-pandemic levels. The data indicate last year the volume of interregional trade rose 34%, exceeding $6bn. I’m sure the agreements to be reached during today’s meeting will strengthen the foundation of six-party cooperation," said Tokayev.
Earlier it was reported that during the meeting the Presidents of Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Russia, and Kazakhstan are to discuss prospects of further cooperation in six-party format.
The meeting is expected to result in the adoption of a Joint Statement of the Heads of State of the Heads of State outlining the current issues of regional cooperation in the Eurasian space.
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Kazakhstan’s annual oil production has increased from 80 million tonnes to 100 million tonnes over the past decade, a correspondent reports.
Growth was uneven, with declines in 2020-2021 due to the pandemic and OPEC+ production restrictions. However, in the long-term trend, Kazakhstan has strengthened its position," the Energy Analytics Telegram channel said.
According to the report, the key drivers behind the increase in oil production have been the country’s major energy projects - Tengiz, Kashagan and Karachaganak.
The increase has been particularly noticeable since 2016, when production rose from 78 million tonnes in 2016 to 86 million tonnes in 2017 (...) Kazakhstan has managed not only to maintain production levels but also to reach a new record high of around 100 million tonnes in 2025," the report said.
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OPEC+ to Increase Oil Production in July
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OPEC+ countries have agreed to increase oil production by 188,000 barrels per day. The adjustment will take effect in July 2026.
According to the published communiqué, the production increase will apply to Kazakhstan, Russia, Saudi Arabia, Iraq, Kuwait, Algeria and Oman.
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The next meeting of participating countries is scheduled for July 5.
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Kazakhstan to Build Its First Sanitary Ware Manufacturing Plant
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Kazakhstan is set to establish its first plant for the production and assembly of sanitary ware and bathroom accessories. The project will be implemented by Spanish company Roca Group, Kazakhstan’s Ministry of Foreign Affairs reported.
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National Bank Sees No Tenge Weakening After Base Rate Cut
Kazakhstan’s National Bank does not expect the tenge to weaken significantly following its decision to lower the base interest rate, National Bank Governor Timur Suleimenov said at a briefing, a correspondent reports.
We do not expect the tenge to weaken as a result of the change in the base rate. A 17% base rate preserves the attractiveness of tenge-denominated assets. In other words, it remains far more beneficial for people to invest in tenge assets than in foreign-currency assets. Accordingly, a one-percentage-point reduction will not alter the attractiveness of tenge assets, including bank deposits, corporate bonds, and government and quasi-government debt instruments. Therefore, we expect demand for tenge assets to remain at its current level, which means the exchange rate is unlikely to change significantly," Suleimenov said.
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National Bank Cuts Base Rate to 17%
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The Monetary Policy Committee of the National Bank of the Republic of Kazakhstan has decided to set the base rate at 17.00% per annum with a corridor of +/- 1 percentage point. The decision is based on the results of the forecast round, updated assessments of key macroeconomic indicators, and the balance of inflation risks, nationalbank.kz reports.
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In Russia, inflation is showing signs of deceleration. In the EU and the US, the disinflation process has stalled amid persistently high energy prices. Against this backdrop, major central banks continue to take a cautious approach to monetary policy and emphasize their readiness to adjust policy if needed.
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Kazakhstan Records Electricity Surplus in First Five Months of 2026
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