Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
ALMATY, May 22 (Xinhua) — The Senate (upper house of parliament) of Kazakhstan has ratified an agreement between the governments of Kazakhstan and Kyrgyzstan on mutual promotion and protection of investments, the Kazinform news agency reported on Thursday.
The agreement was signed on April 19, 2024, during the official visit of the President of the Kyrgyz Republic to the capital of Kazakhstan, Astana.
The document defines the procedure and conditions for regulating issues related to the creation of favorable investment conditions for strengthening economic cooperation between the two countries, in particular for investments by one country in the territory of another.
Kazakhstan is Kyrgyzstan’s third largest trading partner. In 2024, trade turnover between the two countries amounted to $1.71 billion, while exports from Kazakhstan increased by 9.6 percent and amounted to $1.3 billion. According to the National Bank of Kazakhstan, in the first nine months of 2024, foreign direct investment from Kyrgyzstan amounted to $4.8 million, which is 18 percent more than in the same period of 2023. –0–