Kazakh parliament ratifies accord on broadening partnership with EU

09:36, 17.03.2016 1 min read

The Kazakh Senate has passed a law ratifying an agreement on broadening Kazakhstan's partnership and cooperation with the European Union and its member states, an Interfax correspondent has reported.

The agreement, which was signed in Astana on December 21, 2015, outlines the baseline principles of cooperation between Kazakhstan and the EU.

"The agreement contains nine sections, a total of 287 articles, seven supplements to the trade section and a protocol on mutual administrative assistance in customs matters. The most important part of the new treaty is the trade section, which offers additional guarantees of stability to our European partners and will help raise Kazakhstan's investment appeal," Kazakh Foreign Minister Yerlan Idrisov told parliamentarians.

The EU remains one of Kazakhstan's major trade partners and investors, with European countries accounting for 50% of Kazakhstan's trade and more than 50% of external investments, he noted.