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Kazakhstan - Latest News/Current Events, Economic Overview & Trade Relations

AEI | Quick Facts about Kazakhstan

Official Name Republic of Kazakhstan
Capital Astana
Location Central Asia, northwest of China; a small portion west of the Ural River in eastern-most Europe
Area total: 2,717,300 sq km land: 2,669,800 sq km water: 47,500 sq km
Climate continental, cold winters and hot summers, arid and semiarid
Terrain extends from the Volga to the Altai Mountains and from the plains in western Siberia to oases and desert in Central Asia
Kazakhstan
Kazakhstan

Emerging Markets and Capital Controls

Kazakhstan has approved a law in March permitting the president to impose mandatory foreign exchange sales by exporters and a ban of foreign exchange transfers and holdings abroad.

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Kazakhstan

Second Astana Economic Forum Held in Kazakhstan

Kazakhstan is hosting the second Astana Economic Forum. In attendance are over 400 scientists and economists from forty countries and thirty-five international organizations.

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Kazakhstan

Japan's Toyota Tsusho Plans Food Wheat Imports From Kazakhstan

The trading company affiliated with Toyota Motor Corp., Toyota Tsusho Corp., plans to import milling wheat from Kazakhstan to Japan in order to diversity its supply sources as food demand continues to increase in Asia.

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Kazakhstan

Astana Wants Controlling Stake in Baku-Ceyhan Related Project

Kazakhstan is insisting on a significant stake in a pipeline venture.

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Kazakhstan

Kazakh Leader Calls for Single Global Currency

Kazakhstan's president has called for the creation of a single global currency in order to solve the current financial turmoil

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Kazakhstan

CNPC Plans to Buy Oil Assets in Kazakhstan

China's National Petroleum Corporation (CNPC), parent company of PetroChina could potentially buy Kazakhstan's oil asset.

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Trade Agreements

Armenia - Kazakhstan Free Trade Agreement

http://www.worldtradelaw.net/fta/agreements/armkazfta.pdfArmenia - Kazakhstan Free Trade Agreement

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CISFTA - Commonwealth of Independent States FTA

Never fully implemented by all members, although Free Trade Area was created in 1999; future prospects unclear. http://www.worldtradelaw.net/fta/agreements/cisfta.pdf

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Eurasian Economic Community Customs Union

The EAEC attempts substantial integration in post-soviet nations. It arose out of the CIS customs union as all the members were CIS members. The agreement strives to create a common market, customs union, standardized currency exchange, develop programs for social and economic development, a general energy market and several equal rights for citizens, including health care. The EAEC consists of an intergovernmental council, Secretariat, Commission of the Permanent Representatives, Interstate parliamentary assembly, Law Court, and Integration Committee. http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/Singapore

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Kazakhstan - Georgia Free Trade Agreement

GeorgiaGeorgia

http://www.mfa.gov.ge/files/59_68_230357_Geo-KazakhstanFreeTrade.pdf

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Kyrgyzstan - Kazakhstan Free Trade Agreement

http://www.worldtradelaw.net/fta/agreements/kyrmolfta.pdf

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US - Central Asian TIFA

The US-Central Asian TIFA will allow member countries to address trade issues and promote US trade and investment to Central Asia.  It will open up a market of 55.9 million consumers to the United States. A Council was created with the agreement to promote an ongoing dialogue and open forum for countries improve trade relations.http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file683_7722.pdf

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Trade Organizations

Economic Cooperation Organization (ECO)

The Economic Cooperation Organization (ECO) is an intergovernmental international organization involving ten Asian nations. It provides a platform to discuss ways to improve development and promote trade, and investment opportunities. The nations involved are Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan. The common objective is to establish a single market for goods and services, much like the European Union. ECO's secretariat and cultural department are located in Tehran, its economic bureau is in Turkey and its scientific bureau is situated in Pakistan.

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Eurasian Economic Community (EuAsEC or EAEC)

The Eurasian Economic Community (EuAsEC or EAEC) is an intergovernmental organization of 6 nations and is also part of the CIS Customs Union. All members are also members of the older Commonwealth of Independent States.

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