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Kazakhstan and Estonia sign agreement to facilitate investments

20 april 2011, 18:52
Juhan Parts. Photo courtesy of mkm.ee
Juhan Parts. Photo courtesy of mkm.ee
Minister of Economic Affairs and Communications of Estonia, Juhan Parts, and Kazakhstan’s Foreign Minister Erzhan Kazykhanov signed an agreement today on mutual encouragement and protection of investments, RIA NOVOSTI reports, citing Estonian Ministry of Economic Affairs and Communications.

According to Mr. Parts, the agreement puts in place favorable conditions for investors, ensuring their rights and freedoms in Kazakhstan and Estonia.

The agreement is to be shortly ratified by the Estonian Parliament.

In 2010, the turnover between Kazakhstan and Estonia stood at $ 74.5 million, nearly 1.5 times up against 2009 ($ 54.3 million). There are 26 JVs involving Estonian capital operating in Kazakhstan.

Minister Kazykhanov is part of the Kazakh delegation headed by President Nazarbayev. The delegation arrived in Estonia on Wednesday.

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