Kazakh Investors Inject $16 Million into Turkmenistan’s Economy

The deputies of the Kazakh Senate have ratified the Agreement between the governments of Kazakhstan and Turkmenistan on the mutual promotion and protection of investments.

According to senator Amadgeldy Nugmanov, the law is aimed at creating transparent, stable and predictable conditions for investors, expanding long-term economic cooperation, The Caspian Post reports citing Kazakh media.

The law is the fundamental legal instrument that provides comprehensive support and protection of investment processes across all economic sectors, from state to private investments, including the whole range of entrepreneurship and business activities between the two countries. This is precisely what makes this document unique and especially important: for the first time, clear guarantees and obligations to protect the interests of the entire investment community of both countries are enshrined into the law at the interstate level, the deputy said.

Besides, the agreement plays an important role in creating mechanisms for settling investment disputes, providing access to international jurisdiction.

Senator Sergey Yershov added in 2024, the trade turnover between the two nations reached 555.7 million US dollars. Kazakhstani investors infused 16.1 million US dollars in Turkmenistan’s economy, while Turkmenistan invested 0.4 million US dollars. There are mutually beneficial projects in railway, road and water transport; besides, Turkmenistan is interested in the repair and modernization of armored vehicles, spare and component parts supplies.