The Beginning of the Friendship Kazakhstan was one of the republics composing the dissolved USSR. It became independent after the dissolution of the Soviet in 1991. On its east lies China and its west is the Caspian Sea. Its north is bordered by Russia while on its south are the Kyrgyzstan, Uzbekistan and Turkmenistan. Forty-two percent (42%) of its population are the Kazakh minority, 38% are ethnic Russians while the remaining goes to other minorities such as the Ukrainians and Ethnic Germans. Kazakhstan is regarded as one of the world's richest depositary for mineral resources. Industrial raw materials were also hefty in the area. The development of these two areas contributed to the increase of a highly diversified mineral industry. Its large coast basins were useful in providing fuel for its equally important electric-power industry. The country is a major producer of iron ore and noneferrous metals such as copper, lead, chromite and zinc. Bauxite for the aluminum industry and other metals were also considered significant in the Kazakh's economy. Petroleum is now being produced in the nation. In fact, it has one of the largest oil fields in the world located in Tenghiz on the Caspian Sea. Agriculture and sheepherding remain major features of the economy. It was on December 25, 1991 when US recognized the republic of Kazakhstan. The former was said to be the first one to give due recognition to the latter and in January of the following year, a US Embassy was established in Almaty. Since Kazakhstan's independence, it had fostered a wide-range of bilateral relations with the US. The major aspect covered in the bilateral relations involve security as well as non-proliferation. Kazakhstan was one of the nations who turned down nuclear weapons in 1993. The US helped much in the renunciation through the removal of weapon-grade materials, nuclear warheads and the infrastructure which covers all these materials. Another major role played by the US in the economic transformation of Kazakhstan was through providing technical assistance. A fund amounting to nearly $1.21 billion from 1992 to 2005 were shed out by the US government to help administer the reform. Significant programs covered were the promotion of market reform, settlement of security issues and the establishment of a foundation for a more open, democratic and prosperous society. Major Exports and Imports Between the Two Nations The primary commodities exported by Kazakhstan to other nations involved in world economy include oil and oil products, ferrous metals, machinery, chemicals, wheat, grain, wool and coal. A significant amount of these exports went to its major trading partners like Russia, Germany, China, Italy, France, Romania and US. Its major imports from other countries are foodstuffs, machinery and equipment and metal products. Bulk of these products comes from suppliers from Russia, China and Germany. The US Census Bureau have recorded the trade relations between the US and Kazakhstan. The latest recorded data were as of November 2008. The exports of US to Kazakhstan were totaled at $880 million for the said 11-month period commencing on January 2008 while the imports from the latter to the former went to as much as $1.49 billion. Comparing it with the 2007 data, the following statistics were tracked:
In order to foster the ties between these two nations and to widen the range of their bilateral relations, both the governments have decided to enter into mutually-cooperating treaties. These pacts provided a privilege to a more open market. Among the significant trade agreements recorded for these two nations were:
Since Kazakhstan was a former member of the USSR which was considered as one of the toughest enemies of US in global economy standing, there were several disputes which arise from the trade relations of the two. Aside from this known fact, there were other reasons which led to economic concerns. The following conflicts had somehow shaken the relationship of these allies:
There were other investment and service barriers which were known to hinder the trade between the US and Kazakhstan. As long as the latter will be willing to change its standards and have policies which are in accordance with international laws, the barriers will be eliminated. After all, these two countries are already governed by a bilateral investment treaty. It is actually a matter of getting Kazakhstan to focus on the vital provisions of its country's regulations. If this will be achieved, there is no reason for both nations' world economy standing not to prosper. Getting into market research, scrutinizing business opportunities, trade missions and business opportunity exchanges will help start a continuing favorable flow in these two economies. Legal and financial concerns shall also be resolved in compliance to world standards. New technologies may also be introduced by the US to Kazakhstan. US-Kazakhstan Trade References
|
Note: Trade statistics, industry links, economic projections and global business resources on this page have been compiled from hundreds of trade related websites, government guides and resources on the Internet. We provide this valuable information for industrial suppliers, manufacturers, exporters and importers seeking to enter or expland business opportunities in Kazakhstan.
Market Research
Primary Trading Partners
Major Goods Exported
Major Goods Imported
Industrial Outlook
Major industries include oil, coal, iron ore, manganese, chromite, lead, zinc, copper, titanium, bauxite, gold,
silver, phosphates, sulfur, iron and steel; tractors and other agricultural machinery, electric motors, and construction material.s
News, Business and Culture
Government Links
Import Export & Industrial Resources