Kazakhstan signed the Agreement on Free Trade in Services and Investments with Singapore

On May 22, within the framework of the official visit of the President of the Republic of Singapore to Astana, the Agreement on Free Trade in Services and Investments was signed. This is the first document of this kind for Kazakhstan.

The agreement provides for the establishment of mutual preferential access for 92 types of service sub-sectors, more favorable and predictable conditions for investment, and also provides a high level of investor protection in accordance with international practice.

Today, bilateral trade between Kazakhstan and Singapore is actively developing, and the trade turnover in 2022 amounted to 1.9 billion US dollars. The turnover of services for the last year amounted to 10.4 million US dollars, and the gross inflow of foreign direct investment into Kazakhstan from Singapore for 2017-2021 increased by 9.3% from 61.4 to 67.2 million US dollars .

The signing of the Agreement will further expand trade and economic cooperation between the two countries, increase the export of domestic services to the market of the partner, create more predictable and favorable conditions in the service sector and expand the competitiveness of domestic suppliers and increase investment.