Kazakhstan and U.S. Focus on Strengthening Trade and Investment Cooperation

photo: Kazakhstan Ministry of Trade & Integration

On 14 June, in Astana, Minister of Trade of Kazakhstan Arman Shakkaliev met U.S. Trade Representative Katherine Tai to discuss key areas of cooperation between the two countries.

As reported by the Kazakh Ministry of Trade and Integration, the USA is among Kazakhstan’s ten largest trading partners. With bilateral trade turnover demonstrating a steady growth, Kazakhstan is ready to increase non-resource exports of 90 commodities worth over $770 million to the U.S.

During the meeting, Kazakhstan’s trade minister mooted cancelling the Jackson-Vanik amendment, which restricts trade relations between the two countries, and expressed hope for an imminent decision by the U.S. Congress on the issue.

“We count on the soonest positive outcome of the work on the cancellation of the Jackson-Vanik amendment, which will give a new impetus to the development of trade and economic relations between our countries,” said Shakkaliev.

He also noted the important role of the Generalized System of Preferences (GSP) of the United States in strengthening bilateral trade and economic relations. For its part, Kazakhstan is ready to undertake necessary work to resume the application of the USA GSP.

Trade Representative Katherine Tai spoke optimistically on the development of trade relations and strengthening economic ties between the United States and Kazakhstan. After remarking that the extension of the USA GSP program will be considered by the US Congress next year, she confirmed her readiness to assist Kazakhstan in this matter.