Kazakhstan intends to sign an agreement with Kyrgyzstan on the promotion and protection of investments, KazTAG information agency reported on March 12.
“To approve the draft agreement between the government of the Republic of Kazakhstan and the Cabinet of Ministers of the Kyrgyz Republic on the promotion and mutual protection of investments,” says the draft resolution of the government of Kazakhstan.
According to the draft agreement, each party encourages and creates favorable conditions for investors of the other party’s state in order to facilitate investments in accordance with their national legislations.
“The purpose of the agreement is to create and support favorable conditions for investment, and to provide investors on both sides with fair and equal treatment, protection and security within the territory of their state,” the explanatory note to the document reads.
Last year, Kazakhstan’s investments in the economy of Kyrgyzstan amounted to $55 million. The total volume of Kazakh investments in Kyrgyzstan exceeded $1.3 billion, Deputy Prime Minister-Minister of Foreign Affairs of Kazakhstan Murat Nurtleu said during his visit to Bishkek earlier this year. “Kazakhstan is the third-largest trading partner for Kyrgyzstan. We plan to increase bilateral trade to $2 billion. For Kazakhstan, Kyrgyzstan is one of the main trading partners within the CIS and EAEU,” the Kazakh minister said.
