The Mazhilis, the Lower House of the Kazakh Parliament, has
ratified an intergovernmental agreement between Kazakhstan and Turkmenistan on
the mutual protection and promotion of investments. The agreement, signed in
Ashgabat in October last year, has been submitted to the Senate, the Upper
House of the Kazakh Parliament, for further consideration. The main goal of the
agreement is to create favorable conditions to encourage the inflow of foreign
direct investment (FDI). Investments from either country will receive fair and
equal treatment, along with full protection and security within the territory
of the other state. Additionally, the agreement provides an opportunity to resolve
investment disputes through national courts or international arbitration.
Deputy Foreign Minister Alibek Kuantyrov emphasized that the document also
offers guarantees to investors in various emergency situations. He further
identified key sectors of the Central Asian country’s economy where Kazakhstan
is interested in investing.
«The main sectors covered by the agreement include energy,
agriculture, infrastructure projects, and manufacturing. Kazakhstan is
currently interested in importing Turkmen gas, which is linked to the expansion
of existing gas pipelines and the joint development of gas fields within the
territory of Turkmenistan,» Kuantyrov said.
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