Kazakhstan looks for prompt abolition of Jackson–Vanik amendment against it, Deputy PM

Photo: Kazakh government

Kazakh Deputy Prime Minister Serik Zhumangarin and U.S. Trade Representative Katherine Tai discussed the current issues of trade and economic relations between the two countries, Kazinform News Agency cites primeminister.kz.

During the talks, the possibility of abolition of the amendment taken to the Trade Act of 1974 (The Jackson–Vanik amendment) limiting trade with countries not conforming with the requirements of freedom of emigration was considered.

As Zhumangarin said, the issue of abolition of the provision of the law against Kazakhstan was repeatedly raised. So, in May 2023 the Kazakhstan Permanent Normal Trade Relations Act of 2023, aimed at taking necessary measures to present the country a PNTR status, was submitted to the US House of Representatives.

The bill was backed by 33 members of the House of Representatives. The document is under consideration of the Trade Sub-Committee of the Committee on Ways and Means of the House of Representatives. We look for a prompt positive conclusion on the work on abolition of the Jackson–Vanik amendment against Kazakhstan, said Zhumangarin.

The meeting highlighted the special role of the Generalized System of Preferences (GSP) in enhancing trade and economic ties between Kazakhstan and the US. The importance of further application of the system of preferences to Kazakhstani enterprises, delivering raw materials to the American market, was noted.

It was noted that Kazakhstan is ready to create favorable conditions for investors within the Middle Corridor projects in accordance with the priorities of the Partnership for Global Infrastructure and Investment (PGII).

Our objective is to promote infrastructure projects with the prospect of further increasing transit volumes. As the Middle Corridor includes capabilities of mass transportation, it is necessary to ensure smooth movement of goods, making it more effective and economically viable. We welcome the active participation of such development institutions such as DFC, EximBank and USAID to fund such projects, said Zhumangarin.

The sides also considered the prospects for expanding partnership in ensuring food security at the regional level, promoting agricultural potential of Kazakhstan with the use of the best technologies and practices of the US.

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