Trade Agreement Between India And Kazakhstan

8. Kazakhstan is an active member of regional organizations such as the Shanghai Cooperation Organization (SCO), the Eurasian Economic Community (EURASEC), the Commonwealth of Independent States (CIS), the Collective Security Treaty (CSTO) organization, etc. Kazakhstan actively launched the Eurasian Customs Union, which came into force in January 2010 with the participation of Kazakhstan, Russia and Belarus. The Eurasian economic area is expected to become a reality in 2015. The economic union`s performance to date has been encouraging and has contributed to a significant strengthening of trade and economic ties between the three partner countries in less than three years. 28. It is important to note that India`s share of Kazakhstan`s largest imports from other Asian countries in all product categories, with the exception of steel or steel products, is less than 10%. It would be useful to consider India`s comparative advantage in these product categories and compare it with that of its Asian competitors to understand the future potential of Indian exports to Kazakhstan. However, over the past five years, the composition of bilateral trade (exports and imports) has remained more or less unchanged.

An important study of India`s future trade prospects in light of the financial crisis has identified Kazakhstan as one of India`s trading partners with high uncharted trade potential. The gap between real and potential bilateral trade was estimated at 86.19% of the volume of potential trade. Relations between India and Kazakhstan are the external relations between India and Kazakhstan. Diplomatic relations have gained importance in the 21st century, having remained passive in the 1990s. The two nations are working to achieve a comprehensive trade and strategic partnership in the Central Asian region.13 Relations between India and Kazakhstan are of course ancient and historic. They can indeed be characterized as civilization in scope, content and scope. Relations between the countries date back more than 2,500 years, when members of the Saka tribes visited India and built powerful empires in the northwest of the country. There was a regular and regular trade in goods and, more importantly, the free exchange of ideas, thoughts and philosophy through the Great Silk Road in the 5th-12th century AD. During this period, Buddhism was also introduced from India to Kazakhstan and Sufism was traversed in India by the teachings of Khwaja Ahmed Yassawi.