U.S. Congress Hosts Discussion on Repealing Jackson-Vanik Amendment in Relation to Kazakhstan

Washington, D.C., November 19, 2024 – The Embassy of the Republic of Kazakhstan in the U.S. hosted an event on Capitol Hill to discuss the prospects of repealing the Jackson-Vanik Amendment in relation to Kazakhstan. The discussions involved members of Congress, U.S. State Department officials, diplomatic corps, business and experts community.

Opening the event, Ambassador of Kazakhstan to the U.S., Yerzhan Ashikbaev, emphasized the importance of repealing the amendment for the country. He noted that Kazakhstan has made significant progress in its transformation, becoming a leader in Central Asia in attracting foreign investment and playing a key role in ensuring stability and security in the region.

“Over the past 30 years, Kazakhstan has emerged as the second-largest economy in the post-Soviet space, accounting for two-thirds of Central Asia’s GDP. The repeal of the Jackson-Vanik Amendment and the establishment of Permanent Normal Trade Relations with Kazakhstan is a strategic move that will strengthen the ties between Kazakhstan and the U.S., providing stability and predictability for American investors,” the Ambassador stated.

Congressman Tom Suozzi praised Kazakhstan’s efforts in promoting religious freedom and the rule of law. He highlighted that the U.S. recognizes the geopolitical challenges Kazakhstan faces and the importance of strengthening economic security in the region for mutual prosperity.

Senator Chris Murphy, who wrote the bill S.2748 in the U.S. Senate, emphasized the strategic significance of Central Asia in U.S. foreign policy, noting that repealing the amendment would send a clear signal of Washington’s serious commitment to the region. Despite the previous effectiveness of the sanctions under the amendment, Senator Murphy stated that they have now become irrelevant for Kazakhstan, which fully adheres to international norms.

Senator Steve Daines, co-chair of the Senate Central Asia Caucus, shared his impressions of his visit to Kazakhstan in March of this year. He spoke about the establishment of the Caucus following the visit and assured of continued efforts to establish Permanent Normal Trade Relations between Kazakhstan and the U.S.

Gokhan Bayhan, Senior Vice President of the “Wabtec”, shared the company’s successful experience in Kazakhstan, emphasizing the favorable investment climate and the legal infrastructure provided by the Astana International Financial Centre.

The event also featured contributions from experts who underscored the importance of repealing the amendment for U.S. foreign policy. Eric Rudenshiold, Senior Fellow at the Caspian Political Center and former National Security Council employee stated that this step should have been taken earlier. He emphasized that over the past 33 years of independence, Kazakhstan has made significant progress politically and economically, making the repeal both a justified and timely decision.

The event concluded with a lively discussion, where congressmen and experts expressed their support for Kazakhstan’s initiative. Participants agreed that given Kazakhstan’s successful economic reforms, commitment to market economy principles, and active cooperation with international partners, the need for the Jackson-Vanik Amendment is no longer relevant.