Kazakhstan, under the leadership of President Kassym-Jomart Tokayev, has embarked on a transformative journey of political and economic modernization. Since his election in 2019, President Tokayev has implemented a series of comprehensive reforms aimed at reshaping the country’s political landscape and driving economic diversification and growth.
Political Reforms
Kazakhstan’s political reforms have been multifaceted, addressing various aspects of governance and representation. Four comprehensive packages of political reforms were introduced between 2019 and 2021, focusing on liberalizing the political environment, enhancing local governance, and safeguarding human rights.
The remarkable aspect was the 2022 national referendum, a historic event signifying Kazakhstan’s first referendum since 1995. The referendum saw a majority of voters approving amendments to the Constitution, decentralizing decision-making and transforming Kazakhstan’s political system from a super-presidential model to a presidential republic with a strong parliament.
Key reforms included limiting the president’s powers, simplifying political party registration procedures, and re-establishing the Constitutional Court to safeguard citizens’ rights and freedoms. These reforms aimed to promote greater accountability, transparency, and inclusivity in Kazakhstan’s political system.
Economic Reforms
President Tokayev’s economic vision prioritizes fairness, inclusiveness, and pragmatism. Kazakhstan is actively pursuing economic diversification and industrial development to reduce reliance on natural resources and foster sustainable growth.
Efforts to support small and medium-sized enterprises (SMEs) have been a cornerstone of Kazakhstan’s economic reforms. Policy reforms aimed at reducing bureaucratic barriers, simplifying tax codes, and improving the overall business environment have been implemented to encourage entrepreneurship and innovation.
Additionally, Kazakhstan is actively seeking foreign investment to drive economic growth and create new employment opportunities. The country aims to attract $150 billion in foreign direct investment by 2029, signaling its commitment to fostering a favorable investment climate.
Furthermore, Kazakhstan is positioning itself as a key transit hub, capitalizing on its strategic location between Asia and Europe. Initiatives to enhance transportation infrastructure and streamline trade routes aim to bolster Kazakhstan’s role in facilitating international trade and commerce.
Future Cooperation
As continues on its path to modernization, the reforms initiated under President Tokayev’s leadership have laid a solid foundation for future development. The country’s commitment to political openness, economic diversification, and social progress positions it as a dynamic player on the global stage.
Overall, the reforms and modernization efforts undertaken by Kazakhstan have attracted attention and appreciation internationally, including in South Korea, with which Kazakhstan enjoys strong diplomatic and economic ties. As Kazakhstan continues to implement these reforms, it looks forward to further collaboration with South Korea, given their mutual interests and strengths for continued progress and prosperity in both nations.
Already, South Korea has emerged as the 4th biggest trade partner (1. China; 2. Italya; 3. Russia) and 5th largest foreign investor as a result of 2023 (1. Netherlands; 2. Russia; 3. Switzerland; 4. China). With the intensified exchange of visits at various levels throughout 2024, the Embassy of Kazakhstan looks forward to even higher level of cooperation in the years to come.
