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India and Kazakhstan to boost trade ties

India and Kazakhstan have agreed to improve trade relations.

The two countries also signed a bilateral agreement on visa-free access in New Delhi today.

The two developments were highlights of the two-day visit of Kazakhstan Deputy Prime Minister Kassymzhomart Tokaev.

The two countries would explore the possibility of joint production and processing of oil and natural gas.

Oil and Natural Gas Corporation Limited, India's state-owned gas and oil explorer, has already been permitted to explore Kazakhstan's vast oilfields.

ONGC has plans to step up its investment in prospecting by Rs 18 billion ($ 423 million). In 1998-99, it invested Rs 15 billion.

India exports tea and pharmaceuticals to Kazakhstan and imports steel.

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