OREANDA-NEWS. June 16, 2014. Agreement between the Governments of Kazakhstan and the Republic of Estonia on encouragement and mutual protection of investments aimed at creating legal environment for promotion and mutual protection of investments, improving the investment climate and further development of mutually beneficial economic and trade cooperation between the two countries, Minister of Economy and Budget Planning Yerbolat Dossayev said at a plenary session of the Majilis.

The agreement includes rules concerning expropriation, nationalization, investor compensation and dispute settlement that regulate in detail the procedure for formation of an international arbitrage organized for the purpose of resolving disputes between the parties, Minister said.

Estonian investments to Kazakhstan amounted to USD 48.3 million from 2005 to 2013.

Volume of Kazakh-Estonian trade turnover in 2013 amounted to USD 34.4 million, USD 34.2 million in 2012.

Kazakhstan's exports to Estonia in 2013 amounted to USD 4.7 million.

The main products exported by Kazakhstan to Estonia are:

- Raw oil and oil products obtained from bituminous minerals - 62.6% (USD 2.9 million);

- Iron-and-steel waste and scrap - 13.4% (USD 633.8 million);

- Filleted fish and other fish meat - 6.3% (USD 299.7 million).

Imports from Estonia to Kazakhstan in 2013 amounted to USD 29.7 million.

The main products imported from Estonia to Kazakhstan are:

- Panels, consoles, desks, distributing boards and bases for electrical equipment - 30.5% (USD 9.0 million);

- Glazier's putties, resin cements, caulking compounds and other mastics - 6.9% (USD 2.0 million);

- Other articles of iron-and-steel - 6.1% (USD 1.8 million);

- Electrical apparatus for switching or protecting electrical circuits - 6.1% (USD 1.8 million);

- Medicines - 4.9% (USD 1.4 million).