Kazakhstan's Senate has approved the law on the ratification of the Agreement between the governments of Kazakhstan and Turkmenistan on the mutual encouragement and protection of investments, Kazinform reports.
The agreement aims to create transparent, stable, and predictable conditions for investors and to expand long-term economic cooperation between the two countries.
Senator Amangeldy Nugmanov noted that the agreement is the first intergovernmental legal act to equally protect the interests of the entire investment community of both nations, covering state and private investments, as well as all forms of business activity.
The agreement establishes mechanisms for resolving investment disputes, including access to international arbitration, and guarantees fair treatment for foreign investors.
Special emphasis was placed on energy cooperation. Kazakhstan is ready to participate in projects for the development of Turkmenistan's gas-condensate fields and the expansion of pipeline infrastructure. A key step was the signing of a separate cooperation agreement between QazaqGaz and the state concern "Türkmengaz."
According to Senator Sergey Ershov, the trade turnover between the two countries in 2024 reached $555.7 million. Kazakh investors invested $16.1 million in Turkmenistan's economy, while Turkmen investors contributed $0.4 million in Kazakhstan. Joint projects are underway in transport, including rail, road, and water transport. Discussions are also ongoing regarding the supply of spare parts and the modernization of military equipment.
Earlier, the parties agreed to strengthen cooperation in combating organized crime.
CentralasianLIGHT.org
Sept. 4, 2025