Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov held trade talks in Washington

At meetings with U.S. Trade Representative Catherine Tai and representatives of the U.S. Department of Commerce, the parties discussed current issues of trade and economic relations between the two countries. In particular, it was noted that the two countries managed to overcome the negative impact of covid bans, and the volume of trade has almost reached the level of 2019.

For reference:

The trade turnover between Kazakhstan and the United States in January-September 2021 amounted to 1.63 billion US dollars. For the same period of 2019, the trade turnover amounted to 1.64 billion US dollars.

The parties also touched upon problematic issues that negatively affect the indicators of mutual trade.

Thus, Minister Sultanov noted that the establishment of Permanent Normal Trade Relations (PNTR) between Kazakhstan and the United States is hindered due to the presence of the Jackson-Broom amendment. The cancellation of this amendment will contribute to bringing trade and economic relations between the two countries to a new level.

During Sultanov's meeting with the US Trade Representative, Catherine Tai noted the role of the Kazakh side in building bilateral and multilateral cooperation within the Central Asian region. She stressed the commitment of the Washington administration to "deepening US trade relations with Central Asia."

Issues on the agenda of the upcoming 12th WTO Ministerial Conference at the end of November, which will be held under the Chairmanship of Kazakhstan, were also raised.

Bakhyt Sultanov expressed hope for reaching consensus on a number of topical issues during the MK-12. In particular, on the multilateral decision on the WTO response to the COVID-19 pandemic, which is crucial for ensuring equal access to vaccines and essential medical products. Considering the importance of reaching a decision at MK-12 on this issue, Minister Sultanov noted the efforts of the United States in promoting the trade facilitation initiative, which contributes to the adoption by member countries of effective trade measures in response to the COVID-19 pandemic.

It was stressed that Kazakhstan, being the largest landlocked country, is interested in developing transit potential and free movement of goods across its borders. To this end, our country fulfills its obligations to the WTO and stands for the full use of the potential of the WTO Agreement on Simplification of Procedures for the promotion of goods critical during the pandemic.

During the meeting at the US Department of Commerce, the possibility of cooperation between American and Kazakh businesses in the field of extraction and processing of rare earth metals in Kazakhstan was discussed. The parties also came to the conclusion about the need to exchange Trade missions next year and create an informal working group to expand the range of traded goods and services.

Minister Sultanov also met with congressmen, representatives of the United States Chamber of Commerce, members of the Kazakh-American Business Council, the leadership of the American Finance Corporation for International Development and US think tanks.

The Kazakh delegation arrived in Washington as part of participation in the meeting of the High-level Group on Economic Cooperation and discussion of trade and economic issues by US trade agencies, as well as government agencies and organizations of the United States.