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The Economy of Kazakhstan

Thanks to the liberal economic policy and recently reformed system of investment in Kazakhstan, for the fastest growing economy in the CIS level.The national currency – tenge.

Kazakhstan - young, ambitious country, which looking to the future. Thanks to the country's development strategy "Kazakhstan-2050" and the Government of Kazakhstan, that adopted measures to improve the investment climate in the country has created favorable conditions for the development of innovation and new technologies.

Analysts expect a noticeable increase in the rate of growth of the economy from "stable" to "positive" (there was an increase in GDP growth). In accordance with such criteria as the business climate, financial sector development, infrastructure and human capital of Kazakhstan is the business and economic hub of the entire Central Asian region.

Kazakhstan is rich in mineral resources, oil and gas fields, which contributes to the dynamic development of the market. Availability of natural resources and the policy of the state is the key instruments for achieving economic success and prosperity of Kazakhstan - a rising star of the 21st century.

A large number of new offices, construction of public buildings, shopping malls and business centers prove the need for quality products. Since Kazakhstan and other Central Asian countries, the volume of local production doesn’t meet the demand of consumers, most of the goods and services are mostly imported.

Kazakhstan is one of the major importers for European suppliers, and suppliers from Asia. Official total exports for 2013 amounted to 82.5 billion US dollars.  55.2 billion US dollars (or 66.9%) of the export from oil.Fixed by the official trade statistics of imports of the goods increased by 5.4% to $ 48.9 billion.US dollars.

Belarus, Russia and Kazakhstan created a united customs territory, enabling closer mutual cooperation and business development. On Interregional Cooperation Forum, which has become an essential tool for the development of partnership between Russia and Kazakhstan, Putin said: "Over the past 11 years, the economic ties between the two countries reached a qualitatively new level. Bilateral trade has grown at more than 6 times. This high dynamics largely provided investment cooperation of our economies. "In turn, at the meeting of the Council of CIS Heads of State NursultanNazarbayev noted that in 2015 the presidency of the CIS goes to Kazakhstan, in connection with which outlined some priorities: deepening economic and trade cooperation and capacity building of the agreement on free trade zone including. Just Kazakh parliament approved a draft law "On ratification of the Treaty on the Eurasian Economic Union.The main objectives of the agreement are to create conditions for sustainable economic development of the parties in order to improve the living standards of the population; the desire to create a single market for goods and services, capital and labor; comprehensive modernization, cooperation and competitiveness of national economies into the global economy. "In accordance with the agreement of the Customs Union of the parties: functioning internal market for goods, apply common customs tariff EAEC. Also, in order to promote the socio-economic development of the Party in the territory of the parties are established and operated free economic zones and free warehouses." This bill Parliament adopted the work September 1, 2014 For the year support for participation in the Customs Union (CU) and the Common Economic Space (CES) of the population of Kazakhstan and Russia showed growth of over 11%, 84% and 79% respectively.

The trade turnover of Kazakhstan with the countries of the Commonwealth of Independent States (CIS) in 2013 amounted to 33 billion US dollars, Kazakhstan, now and in the future - a huge market for suppliers from around the world. Global and international specialized exhibitions have become a unique platform for dialogue between countries, civil society, different cultures. These large-scale events and projects become impetus for the development of science, technology, design, international trade and tourism.

Information is taken from public sources.