"Trade between our countries will reach $16 billion this year, up almost 25% against last year," the president told foreign diplomats.
Nazarbayev said that joint energy, transport and space projects were priority spheres in bilateral relations.
"We are laying a gas pipeline through Turkmenistan to Russia, and have launched the construction of a railway from Tehran via Turkmenistan and Kazakhstan to Russia," Nazarbayev said adding that trade in border areas and investment cooperation was booming.
The Kazakh leader said that though global demand for Kazakh oil, gas, minerals and grain was high, his country would prefer more investors in the non-commodity sector.
"We expect our foreign partners to play an active role in the construction of Kazakh industries, as well as the inflow of new technology and investment in non-commodity sectors. It is exactly those partners, who will participate in industrializing the country that we will prefer to give access to energy resources and minerals," Nazarbayev said.
The Kazakh leader also said his country expected to complete bilateral talks on accession to the World Trade Organization (WTO) in early 2008. However, the country has yet to hold a number of talks and sign agreements.
Meanwhile, Kazakhstan is ready to join the implementation of large investment projects in Central Asia, Nazarbayev said, primarily referring to the Caspian and Black Sea nations, which are developing fast.
