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American companies respect Kazakhstan's ambition to increase its stakes in oil fields

02 февраля 2012, 16:32
Yerzhan Kazykhanov met with American businessmen
Yerzhan Kazykhanov met with American businessmen
Yerzhan Kazykhanov reading the greeting
Yerzhan Kazykhanov reading the greeting
U.S.-Kazakhstan Business Association
U.S.-Kazakhstan Business Association
American companies treat the increase of Kazakhstan’s stake in oil fields with understanding, Tengrinews.kz reports citing the president of U.S.-Kazakhstan Business Association William Veale as saying after the meeting of a Kazakhstan delegation with representatives of the U.S. business community.

“The pie has to be enlarged before it is shared. There should be enough for everyone. The government has to win and the investors have to receive commercial profit. It is understandable that the government feels more confident and wants to increase its stakes as the country progresses in its development. We understand this. American companies are very interested in the Kazakhstan market. And we think that Kazakhstan will see many more investments,” Veale commented on the increase of Kazakhstan’s stake in oil projects, Karachaganak in particular.

The meeting of Kazakhstan Foreign Minister Yerzhan Kazykhanov and American businessmen covered investment cooperation and new opportunities for foreign investors, as well as Kazakhstan’s relations with China and Russia.

“Trade relations between our countries are developing successfully. The commodity turnover is currently at $2.5 billion. But considering the potential of our countries, I think that there is still space for improvement. With Kazakhstan entering the WTO and with enactment of the Common Economic Space under the Customs Union between Russia, Belarus and Kazakhstan, the commodity turnover should grow further and the trade between our countries should be developing quicker. We think that the Customs Union with over 170 million people will be a big market for American investors and businessmen,” William Veale explained.

Kazakhstan delegation led by Kazakhstan Foreign Minister Yerzhan Kazykhanov is now on an official visit to the Unites States.

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