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After decades of isolationism and resistance to openness, Uzbekistan revised its economic policy under new president Shavkat Mirziyoyev since 2017. The new government implemented comprehensive reforms, in particular unified the exchange rate and liberalized the foreign exchange market, began price and trade liberalization, and made significant cuts to tax rates […]

Participation of children in activities such as helping their parents at home, assisting them at work, and earning pocket money during school holidays is considered to have a positive contribution to the acquisition of children’s skills and experience and to help them to be productive in society in adulthood. However, […]

United Nations Convention on Contracts for the International Sale of Goods shortly known as (CISG) developed by the United Nations Commission on International Trade Law (UNCITRAL) and signed in Vienna in 1980 which came into force after the ratification of 11 countries in 1988 (UNCITRAL.org, 2019). Currently, 93 countries are […]

Agriculture remains one of the strategically important sectors of the world economy. It provides food security and many raw materials for other related industries and manufacturing. In middle and low-income countries employment in agriculture remains high, while in advanced economies it is insignificant. However, differences in productivity between these two […]

By the beginning of 2020, the population of Kazakhstan reached 18,632,169, which is 236,602 increase since January 1 of 2019. The natural increase totaled 269,575 whereas the net migration was negative 32,973 people. Hence, the net out-migration in the population in 2019 increased by 13.2% compared to 2018 [Statistics Committee, […]

Society has drastically changed with the advent and evolution of technology. Colossal opportunities are provided by technology that plays a significant role in people’s everyday lives. Modern-day technology simplified the access to medicine, education, industry and transportation. At the present time people use technology in their life activities just as […]

Members of the Eurasian Economic Union (EAEU) has recently experienced economic slowdown and recession due to external shocks such as pandemic and drop in oil prices. Price wars on the global oil market mainly between Russia and Saudi Arabia and pandemic induced demand shock led to the first negative oil […]

Due to its geographical location, Kazakhstan is a country rich of natural resources such as copper, iron, aluminum, lead, natural gas and oil. Thus, the resource sector plays a significant role in the economy of Kazakhstan. Extraction and production of natural resources contributed to the economic growth of the country […]

Innovation development is a priority policy in all member countries of the Eurasian Economic Union (EAEU). The EAEU members often host different international conferences, business forums and other events devoted to the popularization of innovations and new technologies. Countries implement programs and special policies, supported by experts of international development […]

Globalization significantly affected international trade through the global supply chains. Multinational corporations from advanced economies started to produce goods in different developing countries through offshoring of manufacturing and were interested in global market liberalization. Many studies show that this pattern of trade leads to lower consumer prices, higher investment from […]