Nursultan Nazarbayev holds roundtable with U.S. business circles
17 January 2018 08:50

Nursultan Nazarbayev holds roundtable with U.S. business circles

ASTANA. KAZINFORM The Head of State held a meeting with representatives of the U.S. business circles in Washington D.C., the Akorda press service reports.

In his speech, Nursultan Nazarbayev underlined the strategic nature of Kazakh-American relations, stressing that the U.S. is the second largest investor of Kazakhstan's economy with American businesses investing over $ 50 billion in our country since its independence. The President also noted that in 2017 the trade turnover between the two countries amounted to about $2 billion and that today there are more than 500 companies in Kazakhstan with American participation. According to the President, the country has established partnership relations with a number of large American companies such as Chevron, Exxon Mobil, General Electric, Haliburton, and more.

Speaking at the roundtable, the President of Kazakhstan also stressed the importance of the Joint Statement on enhanced strategic partnership the countries adopted earlier in the course of his visit.

The Head of State proceeded to speak about the development of Kazakhstan's transport and transit potential, as well as the measures the country is taking in order to create favorable conditions for doing business, including its relentless work in terms of improving the investment climate and protecting investors' rights.

Nursultan Nazarbayev stressed that Kazakhstan is an associated member of the OECD Investment Committee and signed the Organization's Declaration on International Investment and Multinational Enterprises. He also noted that the country has introduced a visa-free regime for citizens of 62 countries, including the U.S., offers a liberal legislation on entrepreneurship, as well as 11 special economic and 22 industrial zones that provide all the necessary infrastructure and preferences.

Further on, the Head of State dwelled upon the digitalization of the country's economy within the framework of the Digital Kazakhstan program and the introduction of innovations in production.

Speaking about the agro-industrial complex, Nursultan Nazarbayev invited American companies to participate in the implementation of joint projects in this sphere.

In his speech, the President also focused on the privatization program that is currently underway in Kazakhstan and touched upon the prospects of the projects in the sphere of green economy, stressing that in 2017 the country successfully hosted the World EXPO, which was themed The Future Energy and gave its participants a unique opportunity to demonstrate their high-tech and intellectual potential in terms of "clean" energy. According to him, the heritage of the exhibition, such as the International Center for the Development of Green Technologies and Investments and the Astana International Financial Center will continue to contribute to the innovative and sustainable development of the world.

Nursultan Nazarbayev spoke at length about the AIFC's special status and prospects, stressing that the Center is committed to creating a high-tech stock exchange in Kazakhstan and in order to do that has partnered with Shanghai Stock Exchange and NASDAQ. According to him, Kazakhstan's International Financial Center should become a regional center for the development of "green", Islamic, as well as innovative financing.

Concluding his speech, Nursultan Nazarbayev expressed confidence that the meeting will give impetus to the Astana-Washington rapprochement as well as the strengthening of mutually beneficial partnership between the countries.

In turn, the representatives of U.S. business circles expressed their interest in expanding economic cooperation with Kazakhstan.

The Akorda has also reported that more than 20 documents for a total worth of over $7 billion aimed at implementing projects in the field of aviation and space research, petrochemical and agricultural industries, as well as infrastructure development have been signed within the framework of President Nazarbayev's official visit to the U.S.

The countries have also concluded three intergovernmental agreements, including on waiving charges for air navigation services for state aircraft; the Protocol to the Agreement on the provision of commercial rail transit through the territory of the Republic of Kazakhstan; and the Agreement on the improvement of international tax discipline.