January 25, 2017

The Effects of Fluctuations in the World Oil Market on Bank Lending in the Economy of Kazakhstan

Over the last two decades, the banking sector has expanded significantly in the economy of Kazakhstan. The highest development in the banking sector took place in the period between 2000 and 2008 (until 2008 world economic crisis). At that period, growing oil prices and cheap funding in external financial markets […]
January 18, 2017

Analysis of the Preservation of Historical and Cultural Heritage in Uzbekistan

Since independence in 1991, Uzbekistan has declared the protection and preservation of the historical and cultural heritage as a fundamental principle of its public policy. In order to secure its rich ancient history, Uzbekistan pursues a policy of protecting its cultural and historical heritage, which is reflected in the Constitution […]
January 11, 2017

The Khorgos Free Economic Zone and its Economic Potential

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 […]
January 4, 2017

Trans-Caspian Pipelines Routes: Problems and Prospects

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 […]
December 28, 2016

The Developments in the Economy of Belarus in 2016

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. After […]
December 21, 2016

4 December 2016 Presidential Election and New Foreign Policy of Uzbekistan

On 4 December 2016, the Uzbek citizens went to the polls to elect the second President of the country. Shavkat Mirziyoyev, who has been the Prime Minister since 2003 and who has been the acting President after Islam Karimov’s death on 2 September 2016, won the election. According to the […]
December 14, 2016

Launch of Oil and Gas Production at the Kashagan Field

The economy of Kazakhstan is highly dependent on energy. Being the largest oilfield of the country, the Kashagan field bears strategic importance for the petroleum sector of Kazakhstan. The last three years are described by reduction of oil production from 81.8 million tons in 2013 to 80.8 million tons in […]
December 7, 2016

The New Model of the Chinese International Diplomacy: the Shanghai Cooperation Organization Case

In more than thirty years of reform and implementation of open economy policies, great changes have taken place in China. With the country’s high engagement with the world, it became obvious that China did not isolate itself from the global developments. The rapid growth of China’s economy and the country’s […]
November 30, 2016

Perspectives of Free Trade Regime between EEU and China

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. Nevertheless, the […]
November 23, 2016

The Public Sector Balance in the Economy of Kazakhstan: Adjusting Low Oil Prices

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. In the pre low oil prices period, the share of the oil […]