Kazakhstan-Singapore investment agreement takes effect 1 March

It grants Singapore businesses greater access to 15 service sectors in Kazakhstan

The Kazakhstan-Singapore Services and Investment (S&I) agreement took effect on 1 March 2025, expanding trade and investment opportunities between the two countries.

Signed in May 2023 by Singapore’s Second Minister for Trade and Industry Tan See Leng and Kazakhstan’s then-Minister of Trade and Integration Serik Zhumangarin, the agreement grants Singapore businesses greater access to 15 service sectors in Kazakhstan and eases investment regulations.

Kazakhstan, the largest economy in Central Asia, is strategically positioned as a key trading gateway in the region. The agreement is expected to help Singapore firms diversify their operations and strengthen connections with third markets via the revitalised Trans-Caspian International Trade Route, also known as the Middle Corridor.

Additionally, Kazakhstan’s reserves of critical minerals, energy commodities, and agricultural products further bolster its role in supporting Singapore’s supply chain resilience. The country’s GDP is forecast to grow by 4.7% in 2025, with long-term annual growth projections of 3.0% to 3.5%.

"Singapore and Kazakhstan share longstanding and excellent bilateral ties, and the Kazakhstan-Singapore S&I Agreement plays an important role in strengthening our economic partnership," said Minister-in-Charge of Trade Relations Grace Fu. "Its entry into force will enable seamless market access for businesses in both countries, with more opportunities to expand their footprint."

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