Kazakhstan ratifies agreement for free trade in services among CIS countries

ALMATY, Feb. 26 (Xinhua) -- The Mazhilis, or the lower house of Kazakhstan's parliament, ratified an agreement on free trade in services, establishment, operations, and investment during a plenary session, the Interfax news agency reported on Wednesday.

The agreement aims to establish a free trade zone for services among the Commonwealth of Independent States (CIS) member states, said Kazakh Trade and Integration Minister Arman Shakkaliyev.

"The agreement will secure commitments to provide the most favorable market conditions for service providers from CIS countries. It also creates a more favorable investment climate within the CIS," Shakkaliyev said.

According to the minister, Kazakhstan's trade in services with CIS countries amounted to 3.2 billion U.S. dollars for the first nine months of 2024, while total foreign direct investment inflows from CIS countries into Kazakhstan reached 2.8 billion U.S. dollars over the same period. ■