Kazakh Prime Minister, US Officials and Companies Discuss Further Cooperation at Kazakh-American Business Council

NUR-SULTAN – The direct investments from the United States to Kazakhstan exceeded $53 billion or 15 percent of the total amount of attracted foreign capital since 1991, reported Kazakh Prime Minister Askar Mamin at the Oct. 26 online Kazakh-American Business Council at the US Chamber of Commerce.

The United States is one of the largest economic, trade and investment partners of Kazakhstan. The Kazakh government intends to attract more US companies to the country. Currently, US companies operate in the fields of mechanical engineering, chemical, construction, IT, agri-industrial mining, the metallurgical and oil and gas sectors in Kazakhstan.

Kazakh Prime Minister said that the world’s leading credit rating agencies including Moody’s, Fitch and S&P took into consideration the low national debt, fiscal stability and the effectiveness of the government’s anti-crisis measures.

“Investments are important for our new economic model,” explained Mamin. “The new measures to improve the investment climate will be similar to other global competitive economies.” 

United States Secretary of Commerce Wilbur Ross said that since 2000, US-Kazakhstan trade in goods has more than tripled, reaching $1.9 billion. 

Executive Vice President and Head of Chamber Global for US Chamber of Commerce Myron Brilliant said that establishing the Kazakh-American Business Council upgrades the existing Kazakh-American Business Association to a more formal council which displays the growing strategic nature of the bilateral relationship.

More than 100 representatives of leading US companies including Chevron, GE, Shell, JPMorgan Chase, Princeton Healthcare Alliance, Pfizer, Tyson Foods, IBM, Oracle, Facebook, Google, DuPont Pioneer, the US Department of State and the American Council for International Education took part in the virtual meeting.

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