Majilis OKs Kazakhstan-Serbia investment protection agreement

ASTANA. KAZINFORM - The bill "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Serbia on promotion and mutual protection of investments" was ratified by Majilis, the lower chamber of the Kazakh Parliament, at a plenary session on Wednesday.

"The agreement was inked on October 7, 2010 in Astana during then President Boris Tadić's visit to Kazakhstan. It is aimed at creating legal environment for the promotion and protection of investments, improving investment climate and strengthening mutually beneficial trade and economic cooperation between the two countries," Kazakhstan's Vice Minister for Investment and Development Rakhim Oshakbayev said, addressing the plenary session. Vice Minister Oshakbayev noted that Serbia is a perspective partner of Kazakhstan. "Moreover, Serbia supported Kazakhstan's bid to sit on the UN Security Council in 2017-2018," he added.