Kazakhstan’s Parliament has ratified a new agreement with Kyrgyzstan on the mutual promotion and protection of investments. Signed on April 19, 2024, in Astana, the agreement aims to create favorable investment conditions and strengthen economic cooperation between the two nations.

According to Kazakhstan’s Deputy Minister of Foreign Affairs, Alibek Kuantyrov, the previous investment agreement from 1997 had become outdated. The new agreement incorporates modern changes in international and national legislation, ensuring legal guarantees, fair treatment for investors, and access to international arbitration.

In recent years, trade and investment cooperation between Kazakhstan and Kyrgyzstan has been growing steadily. Kazakhstan is Kyrgyzstan’s third-largest trading partner, with bilateral trade volume reaching $1.7 billion in 2024. Kazakhstan’s exports to Kyrgyzstan increased by 9.6% to $1.3 billion.

According to Kazakhstan’s National Bank, direct foreign investments from Kyrgyzstan to Kazakhstan totaled $4.8 million in the first nine months of 2024, reflecting an 18% increase compared to the same period in 2023. Meanwhile, Kazakhstani investors have injected $48 million into Kyrgyzstan’s economy during the same period.

This agreement is expected to enhance investor confidence and create new economic opportunities. Additionally, plans are underway to establish an industrial trade and logistics complex at the Kazakhstan-Kyrgyzstan border.