Economic Cooperation

Kazakhstan has attracted significant foreign investment since independence. The U.S. is one of Kazakhstan’s most important economic partners. Bilateral cooperation is affirmed by one-on-one meetings between presidents. Most recently Presidents Trump and Tokayev meet on the sidelines of the UN General Assembly in September 2019, and then-President Nursultan Nazarbayev visited the White House in January 2018. There exists bilateral resolve to strengthen cooperation in trade and investment, security and people-to-people relationships within the framework of an Enhanced Strategic Partnership Dialogue. Kassym-Jomart Tokayev, who was sworn in as the new President of Kazakhstan on March 20, 2019, reaffirmed his commitment to continue the country’s foreign and economic policy.

The first meeting on Economic Cooperation was held in Washington Oct. 18 between commissions led by Kazakh Minister of Trade and Integration Bakhyt Sultanov and U.S. Secretary of Commerce Wilbur Ross. The meeting was carried out in accordance with the commitments reached between First President of Kazakhstan - Elbasy Nursultan Nazarbayev and U.S. President Donald Trump during the former’s official visit to Washington in January 2018, as well as business meetings with Kazakh President Kassym-Jomart Tokayev in New York in September 2019.

The parties reaffirmed their commitment to deepen the countries’ expanded strategic partnership, noting the growth in mutual trade and investment. Sultanov also noted significant potential for increasing Kazakh exports. At present, 50 items worth approximately $1 billion can additionally be delivered to the American market. The agenda included interaction issues within mechanisms including the World Trade Organisation (WTO) and Organisation for Economic Co-operation and Development (OECD). The co-chairs also noted the need to use the mutually beneficial capabilities of the U.S. Corporation for International Development Financing and Astana International Financial Centre.