The Mazhilis, the Lower House of the Kazakh Parliament, has
ratified the Agreement on Free Trade in Services, Establishment, Activities and
Investments of the Member States of the Commonwealth of Independent States
(CIS). The document will enable Kazakhstan to expand its trade turnover,
increase investments, and boost the export of domestic services to CIS markets.
Last year, service exports to these markets amounted to over $1.5 billion. The
agreement also aims to create a favorable investment climate within CIS
countries and provides guarantees, particularly in the areas of business,
transport, telecommunications, the environment, finance, education,
construction, and tourism.
«The agreement ensures a high level of protection for
investors' interests in accordance with international practices. The total
inflow of foreign direct investment from CIS countries into Kazakhstan amounted
to $2.8 billion over the course of nine months last year. The document does not
address issues related to public procurement, land use, subsoil use, natural
monopolies, or the regulation of renewable energy sources in Kazakhstan,» Kazakh
Minister of Trade and Integration Arman Shakkaliyev said.
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