Russia and Kazakhstan launched a joint investment project of the Caspian Sea oil, the Russian TV said on Tuesday.
At the end of the bilateral talks held in the Kazakh city of Atyrau, Russian President Vladimir Putin and Kazakh counterpart Nursultan Nazarbaev took part in giving the go-ahead to the project that geographically extends in both territories, the TV added.
According to the media report, Nazarbayev called for investing the revenues of the oil and gas exports for building modern industries.
Kazakh investments in Russian economy hit USD 3.6 billion and bilateral trade hit UDSD 26 billion last year.