China leans towards the idea of establishing a free trade zone with the Eurasian Economic Union (EEU). The first round of negotiations on this issue was scheduled to be held in mid-October of 2016 in Moscow. However, later it was postponed due to unreadiness of the two sides.
Kazakhstan is resource rich country, and its economy highly depends on the oil export. Oil prices that have been low since the middle of 2014 had a significant effect on the country’s balance of payments and exchange rate.
Today, highly skilled workers play an essential role in the economic development of especially developing countries. This skilled labor force is the engine of breakthrough innovations that boost the economic growth with new production methods.
Afghanistan has experienced a protracted conflict for almost thirty-five years that hindered its development. Furthermore, over the past five years the country has seen the rise of the armed non-state actors who keep challenging the territorial control of the Government.
The improvement of transportation systems, development of communications, urbanization and growing mobility of population and their social wealth are important factors positively affecting the tourism sector in the world.
The Kashagan oil field in the Caspian Sea is a largely known oil field outside the Middle East and the fifth largest oil field in the world regarding the reserves. Discovered in 2000, it is the largest new oil deposit found in the last 30 years.
In recent years, the economy of Kazakhstan was affected by two major external factors, such as changes in the trade regime associated with the accession to the Eurasian Economic Union (EAEU) and decrease in oil prices. These factors have influenced many aspects of the economy of Kazakhstan.