Kazakhstan and US Strengthen Economic Ties

President Kassym-Jomart Tokayev of Kazakhstan recently held a meeting with Katherine Tai, the United States Trade Representative, on June 14th. This meeting emphasized the importance of expanding trade and economic cooperation between Kazakhstan and the U.S.

During the meeting, President Tokayev highlighted the strong strategic partnership that has been built between the two countries over the past three decades. This partnership has encompassed various sectors including trade, investment, security, human rights, and democracy.

One notable point mentioned by President Tokayev was the significant investment made by the U.S. in Kazakhstan’s economy, with foreign direct investment exceeding $65 billion. In addition, trade turnover between the two countries reached a record high of $4.1 billion last year, marking a 30% increase. Kazakhstan currently hosts more than 600 American companies operating within its borders.

President Tokayev expressed his commitment to improving investment attractiveness, liberalizing the economy, and supporting industrial development in Kazakhstan. He also emphasized the importance of strengthening economic interaction between the two nations.

Katherine Tai, the U.S. Trade Representative, expressed her gratitude for the opportunity to discuss new approaches to developing trade relations with Kazakhstan. The implementation of Trade and Investment Framework Agreements (TIFA) was highlighted as a key mechanism for fostering economic cooperation.

Additionally, Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu joined in discussions with Tai regarding the development of Kazakh-American trade, economic, and investment cooperation. Both parties praised the outcomes of the TIFA meeting in the regional format, as well as bilateral meetings at the governmental level.

Overall, the meeting between President Tokayev and Katherine Tai signaled a strong commitment to furthering the economic ties between Kazakhstan and the United States, paving the way for increased collaboration and mutual prosperity.



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