As of November 28, 2024, the U.S. Congress is actively considering granting Kazakhstan Permanent Normal Trade Relations (PNTR) status, a significant step that could enhance bilateral trade and investment opportunities. However, progress is currently hindered by the Jackson-Vanik Amendment, a Cold War-era legislation that restricts trade with countries that limit emigration [7bc8c2c2]. Some lawmakers are optimistic that this amendment could be repealed by January 2025, paving the way for improved trade relations [7bc8c2c2].
Kazakhstan's Ambassador to the U.S., Yerzhan Ashikbayev, has emphasized the country's emergence as Central Asia's leading economy, contributing two-thirds of the region's GDP. He argues that granting PNTR status would reflect the U.S.'s recognition of Kazakhstan's economic growth and stability [7bc8c2c2]. Congressman Thomas Suozzi has voiced support for repealing the Jackson-Vanik Amendment, citing Kazakhstan's establishment of an arbitration court as a positive development in the country's legal framework [7bc8c2c2].
The trade turnover between the U.S. and Kazakhstan currently stands at approximately $5 billion, indicating a robust economic relationship that could be further strengthened with the removal of trade barriers [7bc8c2c2]. Senator Christopher Murphy has also highlighted the strategic importance of Central Asia, suggesting that enhancing trade relations with Kazakhstan could bolster U.S. interests in the region [7bc8c2c2].
Wabtec's Gökhan Bayhan noted the company's 15-year presence in Kazakhstan, underscoring the potential for foreign investment and economic collaboration [7bc8c2c2]. Experts have pointed out that the Jackson-Vanik Amendment undermines U.S. strategic interests in Central Asia, as Kazakhstan plays a crucial role in global uranium production, accounting for 43% of the world's supply [7bc8c2c2].
In light of these developments, Thomas Dance has urged Congress to prioritize the granting of PNTR status to Kazakhstan, arguing that it would not only benefit both nations economically but also enhance U.S. influence in a strategically vital region [7bc8c2c2]. As discussions continue, the outcome of this legislative consideration could significantly reshape U.S.-Kazakhstan relations and impact the broader geopolitical landscape in Central Asia.