Kazakhstan and Turkmenistan will protect and promote mutual
investments. The Senate, an upper house of the Kazakh Parliament, ratified the
agreement between the governments of the two countries. The document is
intended to provide predictable and secure conditions for investors from both
sides. The agreement also establishes mechanisms for resolving investment
disputes, granting access to international arbitration. It highlights energy
cooperation as a priority. Kazakhstan expressed readiness to participate in
projects to develop Turkmenistan’s gas condensate fields and expand pipeline
infrastructure. In addition, QazaqGaz signed a separate agreement with the
state concern Turkmengaz. Kazakh investors have invested more than $16 million
in Turkmenistan’s economy, while bilateral trade reached $555 million last
year.
«The
law is a fundamental legal act providing comprehensive support and protection
for investment processes in all sectors of the economy from public to private
investment, covering the full spectrum of entrepreneurial and business activity
between the two countries. This gives the document its unique significance: for
the first time at the intergovernmental level, clear guarantees and obligations
are set out to protect the interests of the entire investment community of both
nations,»
said Senate member Amangeldi Nugmanov.
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