Enhancing business and inter-parliamentary cooperation with U.S. is top priority for Kazakhstan, FM

With Chairman of the House Foreign Affairs Committee Ed Royce, they discussed further strengthening of inter-parliamentary relations, regional cooperation and international agenda. During the meeting they emphasized high level of cooperation between the two countries and expressed interest of the parties in strengthening strategic partnership. Idrissov and Royce stressed the importance to further develop inter-parliamentary cooperation and increase the number of relevant contacts, the Kazakh MFA's press service said. Idrissov briefed the influential legislator on the main provisions of the Address of President of Kazakhstan Nursultan Nazarbayev "Nurly Zhol" and stated that the new economic policy was aimed at an ambitious but achievable goal to enter the 30 most developed countries of the world. "The implementation of this objective would also contribute to the fastest accession to the WTO. In this respect, we hope to gain the U.S. support," said the Kazakh Minister. Discussing international issues, the parties touched upon the fight against terrorism, response to the so-called "Islamic State", situations in Afghanistan and Ukraine. Geopolitical issues were also in focus during meetings with Chairman of the Center for Strategic and International Studies (CSIS) John Hamre and chairman of an analytical investment company "Guggenheim International" Michael Medish. The Foreign Minister participated in the "roundtable" organized by the US-Kazakhstan Business Association, which included such companies as AES Corporation, AGCO, Baker Hughes, Boeing, Case New Holland, Cashman Equipment Corp., Chevron Corporation, Deere & Company, Exxon Mobil, Fluor Corporation, General Electric, Halliburton, NUKEM, Parker Drilling, Sigma Bleyzer Investment Group, Sikorsky Aircraft, Solar Turbines, Tethys Petroleum Inc. and others. Idrissov informed the business community of the large-scale measures taken by the Government of Kazakhstan to improve the investment climate. He presented in detail legislative and other innovations, including tax incentives for foreign investors, establishment of the investment ombudsman, introduction of a visa-free regime for citizens of 10 countries, leading economic partners of Kazakhstan, and others. The U.S. businessmen were interested in expanding cooperation with Kazakhstan in the light of the implementation of the Nurly Zhol policy, forthcoming accession to the World Trade Organization (WTO), preparations for the international specialized exhibition EXPO-2017 and entry into force of the treaty on the establishment of the Eurasian Economic Union (EEU) on January 1, 2015. Idrissov urged the interlocutors to participate in the construction of new transport and logistics infrastructure and announced plans of Astana to privatize more than 650 state-owned facilities to further strengthen the private sector and expand the middle class, noting that U.S. companies could take an active part in the privatization process. Briefing the "roundtable" participants on the plans to develop "green" economy, the Foreign Minister drew attention to the preferences granted to companies which would work in the field of alternative energy and use energy-efficient technologies. He invited U.S. companies to participate in the exhibition EXPO-2017 to showcase their achievements in the field of energy. Idrissov also urged to use Kazakhstan as a platform for implementation of investment projects with further access to the markets of the Customs Union and Central Asia. U.S. businessmen welcomed Kazakhstan's steps to improve the business climate in the country and preferences for investors and noted with great satisfaction a high level of cooperation in trade and investment. In the first half of 2014, U.S. direct investment in the economy of Kazakhstan amounted to $2.3 billion, which is two times more than in 2013. Major investments were directed to the extractive industries, real estate market, business services, as well as financial sector. In the second quarter of 2014, the trade turnover increased by 21 percent. The discussion also touched upon the impact of sanctions policy between the Western states and Russia on the economic environment and prospects of Kazakhstan and other countries within the EEU, as well as how this situation affects their economic cooperation with foreign companies. Kazakhstan's measures designed to minimize such impact and adapt the economy to sustainable development were highlighted. The two-day visit to Washington of Minister Idrissov provided an opportunity to exchange opinions on pressing issues of bilateral relations with representatives of U.S. political and business establishment and expert circles, and confirmed the mutual interest in a comprehensive deepening and expansion of the Kazakh-US strategic partnership.