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Economy, Foreign Trade

customs union, common market, free-trade zone, Foreign investment, European Union

In recent years, Kazakhstan has become more integrated into the world economy. Foreign investment has increased, especially in the oil and natural-gas sectors. In 1994 Uzbekistan and Kazakhstan established a free-trade zone between the two countries, and Kyrgyzstan soon joined the agreement. In the same year, Kazakhhstan signed a partnership accord that established economic contacts with the European Union (EU). In 1996, seeking closer economic integration with Belarus, Kyrgyzstan, and Russia, the country approved an agreement on a common market and customs union. In 2000 exports earned $9.1 billion and imports cost $5.1 billion.



Article key phrases:

customs union, common market, free-trade zone, Foreign investment, European Union, Russia, Belarus, Kyrgyzstan, exports, world economy, Kazakhstan, Uzbekistan, partnership, oil, countries, agreement, country, recent years

 
 

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