Prospects for the development of foreign economic cooperation between Russia and Kazakhstan

Russia borders with many countries, but only with Kazakhstan does its border reach an impressive length, connecting Europe and Asia. Russian-Kazakh foreign economic partnership is based on a solid foundation of historical and cultural community. The countries maintain close political and economic cooperation within the framework of various integration associations, such as the Eurasian Economic Union (EAEU), the Customs Union and the Commonwealth of Independent States (CIS). A common market, the absence of customs barriers and the free movement of goods, services and labor contribute to the development of economic cooperation between Russia and Kazakhstan. In the current economic and political environment, a number of unresolved problems remain between the countries, so strengthening, developing and maintaining mutually beneficial Russian-Kazakh foreign economic cooperation seems to be a priority task of the foreign policy of both countries. The purpose of the study is to study the development of foreign economic cooperation between Russia and Kazakhstan. The main trends in the development of trade between the countries and investment activities of Kazakhstan in Russia for 2019-2023 were studied. It was concluded that Russian-Kazakh economic cooperation, due to common interests and geography, developed quite successfully in 2019-2023. Foreign direct investment in each country increased significantly, trade turnover increased and reached 26 billion US dollars in 2023. However, it is worth noting its decline in 2023 and a decrease in Russia's exports to Kazakhstan in 2022-2023. Despite the difficulties associated with sanctions, the countries have prospects for developing cooperation. It is especially important to focus on joint projects in energy, high-tech industries, and the development of transport infrastructure.