Why Kazakhstan’s New Political Order Matters for US Trade
The Netherlands to Miss Natural Gas Filling Target for Winter Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… Kazakhstan’s parliamentary election on August 23 marked an important step in the country’s political development, completing the formation of an updated system of government under the new constitution that took effect in July.
The election also has significant implications for efforts to expand global trade.
The new unicameral legislature, the Kurultai, will be dominated by members of a pro-presidential party, Adilet, which received just over 71 percent of the vote.
Four other parties will also be represented.
But those figures only tell a small part of the story.
The real significance is that the Kurultai is expected to make a break with past practices, improving accountability and transparency.
The reform process launched by President Kassym-Jomart Tokayev is designed to redistribute political power among state institutions, streamline the system of representation and make the business of legislating more efficient and effective.
The transformation of Kazakhstan’s institutional architecture coincides with the emergence of a new stage in the country’s foreign policy engagement with key partners, including the United States.
For Washington policymakers, the reforms can usher in the formation of a more structured and predictable political and legal environment, which is important for long?term economic and strategic cooperation.
In this respect, the constitutional changes open up a new window of opportunity for the Trump administration, one that can enable the intensification of an already deepening dialogue across a variety of topics.
Political stability, institutional predictability and Kazakhstan's ability to pursue a long-term economic policy are directly linked to the interests of American business and Washington's strategic interests.
In recent months, there has been an increase in top-level US-Kazakh contacts, including political consultations and discussions on economic and investment initiatives.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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