At an expanded meeting of the Senate Committee on International Relations, Defense, and Security, deputies reviewed the Law "On Ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the People's Republic of China on the Encouragement and Mutual Protection of Investments." Representatives from the Ministries of Foreign Affairs, Justice, Trade, and Integration, as well as the Investment Committee of the Republic of Kazakhstan, participated in the expanded meeting.
As noted during the discussion, the document aims to further modernize the international legal framework for investment cooperation between the two countries and create favorable conditions for the implementation of joint strategic projects.
"Improving the legal framework between Kazakhstan and China is crucial for the further development of investment cooperation. The Agreement under consideration aims to create transparent and predictable conditions for the protection of mutual investments," noted Committee Chairman Andrey Lukin.
The agreement enshrines modern international standards for investor protection, including national treatment and most-favored-nation treatment mechanisms that ensure a level playing field for investment participants. The document also provides guarantees for investment protection, transparent dispute resolution mechanisms, and legal instruments aimed at strengthening investment stability.
"Ratification of this Agreement is crucial for building the potential of the real economy and successfully implementing large-scale infrastructure initiatives. The creation of a clear and understandable legal framework will be a powerful driver of high-quality investment in high-tech industries, will facilitate the creation of new jobs, and will strengthen the country's export potential," noted Senator Sergei Ershov.
Following the discussion, the Committee recommended submitting the Law to the Senate for consideration.
(Senate Press department, 74-72-27)
