ASTANA, Kazakhstan, April 17. Kazakhstan’s Senate (the upper house of the Parliament of Kazakhstan) has approved the Agreement on Free Trade in Services, the Establishment, Operation, and Implementation of Investments between the CIS member states, signed on June 8, 2023, in Sochi during the meeting of the Council of Heads of Government of the Commonwealth of Independent States (CIS), Trend reports.
"This agreement opens new horizons for Kazakhstani service providers. It will provide access to the markets of our partners, create conditions for business expansion, and attract investments. Importantly, the document includes mechanisms for protecting mutual interests, which helps strengthen economic ties within the CIS," said the Deputy Minister of Trade and Integration of the Republic of Kazakhstan, Zhanel Kushukova, in response to questions from parliamentarians.
The process of preparing the agreement began back in 2011, and its conclusion was the result of more than a decade of negotiations. The agreement is aimed at creating conditions for the seamless access of Kazakhstani companies to the markets of CIS countries, as well as the protection and attraction of investments.
"The participating countries in the agreement are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan. Mutual service trade between Kazakhstan and the CIS states in 2024 amounted to $4.3 billion, of which $2.2 billion was exports, and $2.1 billion was imports," she added
The agreement is particularly significant for cooperation with Uzbekistan, which is not a member of the World Trade Organization. The signing of the agreement will provide Kazakhstani service providers with preferential access to the Uzbek market.
The ratification of the agreement will create a stable legal framework for the development of the service and investment sectors in Kazakhstan and strengthen integration ties with the CIS countries.
