The fifth round of talks regarding the draft 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 was held in Beijing, Kazinform refers to the press service of the Ministry for Investment and Development of Kazakhstan, Kazinform reported.
It is noted that the sides "reached a conceptual agreement on the approaches of individual norms taking into account national interests" and "the discussion of a specific text of the draft agreement has begun."
The achieved progress symbolizes the beginning of the joint work in terms of the development of a qualitative international legal framework between the countries and will lay a foundation for further deepening of mutually beneficial investment cooperation of businesses.
The Agreement on the Encouragement and Mutual Protection of Investments between the Government of the Republic of Kazakhstan and the Government of the People's Republic of China was signed on August 10, 1992.
It should be noted that from 2005 to 2017, the gross inflow of direct investments from China into Kazakhstan's economy amounted to more than $15 billion. The gross outflow of direct investment from Kazakhstan to Chinese economy was recorded at $500.4 million.