Kazakhstan and the Kyrgyz Republic are strengthening
investment cooperation. The Senate, the Upper House of the Kazakh Parliament,
has ratified the corresponding intergovernmental agreement on the promotion and
mutual protection of investments. The previous agreement was adopted back in
1997. The new version of the document has been developed taking into account
changes in international and national legislation. Its provisions stipulate
that investments from either party are granted fair and equal treatment, as
well as full protection and security within the territory of the other state.
Strategic partnership with the Kyrgyz Republic opens up prospects for further
development of regional integration. Since 2005, Kazakhstan has invested $1.3
billion in the Kyrgyz economy, while trade turnover between the two countries
reached $1.7 billion last year. Meanwhile, Kazakhstan’s exports grew by almost
10%.
«The reviewed agreement has been developed to improve the
investment climate and further advance mutually beneficial trade and economic
cooperation between Kazakhstan and the Kyrgyz Republic. The document provides
for the creation of favorable conditions for investors. Overall, we hope that
the approved law will contribute to strengthening the friendly ties between our
brotherly nations,» noted Maulen Ashimbayev, Chairperson of the Senate, the Upper
House of the Kazakh Parliament.
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