Senate ratified Kazakhstan-Serbia agrt on mutual encouragement and protection of investments
ASTANA. KAZINFORM Draft law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Serbia on mutual encouragement and protection of investments" has been approved today at the plenary session of the Kazakh Parliament's Upper Chamber.
"The Agreement was signed in Astana on October 7, 2010 within an official visit of Serbian President Boris Tadic to the Republic of Kazakhstan. The document aims at creation of favorable conditions for the encouragement and protection of investments, improvement of investment climate and further strengthening of mutually beneficial trade and economic cooperation," Minister of Investment and Development Asset Issekeshev said presenting the bill. The Agreement aims also at the expansion and stimulation of mutual trade and economic relations, acceleration of economic development of both countries as well as encouragement and protection of investments. As per the document, Kazakhstan and Serbia establish free trade regime based on their national legislation and WTO principles. The parties agree to ensure the most favorable conditions for investors, for visa and job license issuance.