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International Trade Administration: Two-way trade with Kazakhstan has great potential

Business Materials 5 March 2020 21:58
International Trade Administration: Two-way trade with Kazakhstan has great potential

BAKU, Azerbaijan, March 5

By Nargiz Sadikhova - Trend:

Two-way trade between the United States and Kazakhstan has significant potential, US International Trade Administration (ITA) told Trend.

The ITA representative said that US companies have been the largest foreign investors in Kazakhstan, helping to utilize US technology in developing and transporting Kazakhstan’s energy resources.

"Two-way trade between the United States and Kazakhstan has significant potential if Kazakhstan succeeds in developing other sectors of its economy beyond the natural resources sector, such as agribusiness and food processing, transportation and other infrastructure," the official said.

Talking current trade levels between countries, the official said that these depend mainly on broader economic and business-climate conditions and private sector decisions.

"If Kazakhstan allows its private sector to develop and ensures that its courts protect investors’ physical and intellectual property, then it will be easier for US and Kazakh businesses to work together, whether as sellers or investors, and to build durable relationships. The US and Kazakh governments discuss this important issue at senior levels," the official said.

The development of a comprehensive partnership with the US one of the main priorities of our country's foreign policy. Political dialogue is being consistently developed at all levels, including the highest one.

At the current stage, the Kazakh-American cooperation is determined by the agreements reached as a result of the official visit of President Nazarbayev to the US, during which the two leaders adopted the Joint Statement "Kazakhstan and United States: An Enhanced Strategic Partnership for the 21st Century."

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Follow the author on twitter: @nargiz_sadikh

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