Agreement Opens New Chapter in Japanese, Kazakh Economic Cooperation

Kazakhstan and Japan signed an agreement on the encouragement and mutual protection of investments at the fifth Intergovernmental Commission on Economic Cooperation in Astana on Oct. 23. The agreement is expected to deepen economic cooperation and aid the launch of new projects.

preview-imageOne of the projects Kazakh Prime Minister Karim Massimov would like to see come out of the agreement is the manufacture of hybrid and electric cars in Kazakhstan.

“Japan has high-tech, Kazakhstan has natural resources and hardworking people. I think together it will give a certain result in sectors such as the development of cooperation in the nuclear industry and the automotive industry,” Massimov said during the commission meeting.

A project to produce electric cars would blend well with Kazakhstan’s Green Economy Programme and its hosting of EXPO 2017 under the theme of “Future Energy,”according to the prime minister. Kazakhstan has also worked to create favourable conditions for foreign businesses.

Kazakh Minister of Industry and Trade Asset Issekeshev also told commission meeting participants that Kazakhstan sees Japan as a priority investor and that Japan is among 10 countries for which Kazakhstan has launched a visa-free regime earlier this year.

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