The Kashagan oilfield is located in the nature reserve area of the northern part of the Caspian Sea. The waters here are shallow with depth of two to ten meters. Moreover, the area has an extreme weather conditions with hot summers and cold winters. Due to the shallowness of waters and harsh climate, the surface of water is covered with an ice sheet for half a year.
During the last 10-15 years, period the economic policy of the government of Kazakhstan concerning the domestic economy has been shaped in accordance with the objectives of supporting non-oil sector of the economy. The economy of Kazakhstan depends very much on revenues that come from oil and gas exports that currently account 75-80% of its total exports.
Since officially launched in April 14, 2012, the Khorgos Free Economic Zone (FEZ), which is officialily called the International Centre of Boundary Cooperation between Kazakhstan and China, has made a significant contribution to further increasing the economic and commercial relations between all Eurasian countries, including bilateral economic and commercial relations between China and Kazakhstan.
Central Asia and Caucasus has always been economically powerful regions throughout the world history.However, in the beginning of 21st century, Central Asia and Caucasus with its high oil and natural gas reserves regained importance and these countries have attracted attention with their high economic potentials. It seems that the energy dependence of the world countries to this region will continue quite a while.
In the face of deepening contradictions in energy relations between Russia and the European Union (EU), the Caspian region came into the focus of the international community's attention. The hydrocarbon-rich countries of the region, in particular, Azerbaijan, Kazakhstan and Turkmenistan, are considered by the EU as vital energy partners, which could secure the European energy supplies in the future.
Belarus has a strategic location between Russia and the European Union (EU) and a well-developed transport system with a sufficient investment climate and highly skilled workforce. However, being highly dependent on Russia in energy, economy and finance and high state control on economic activities prevent to stabilize the economy.
Due to the high importance of small and medium enterprises (SMEs), today most of emerging and developing countries willing are to increase the share of these enterprises. SMEs promote economic growth through increasing competitiveness among enterprises, increasing Research and Development Expenditures (R&D) and decreasing unemployment. Kazakhstan is also one of the emerging countries and tries to boost SMEs.
Businesses are regarded as one of the main parts of an economy that provide not only goods and services but also jobs for the population. Therefore, all countries try to simplify the process of starting new business and the process of running business. The easier the process is, the higher the number of businesses will be. However, sometimes it can be more difficult for a foreign firm to open a business in a country. According to Brunetti (1997) Stel et al.
In October the National Agency on Exports and Investments “KAZNEX INVEST” together with the Chamber of Commerce of the Republic of Tajikistan organized a business forum in Dushanbe with participation of 75 companies of Tajikistan and Kazakhstan. During the forum contracts for 46 million dollars were signed between the companies.