Economy
Economic growth in Kazakhstan is expected to remain steady at around 7 per cent until 2008.
In May 2004, China and Kazakhstan signed an agreement to build an oil pipeline to China by 2005. This pipeline is one of several being developed by Kazakhstan, which will increase the country's oil export capacity, contributing to high levels of economic growth. While oil revenue will continue to be the mainstay of the economy over the medium term, Kazakhstan's economic stability in the longer term will depend on progress with structural reform, diversification of the economic base, and higher levels of foreign investment. In recognition of this the Government is looking to diversify the economy, especially into areas like non-ferrous metals production, which complement its energy endowment. The dependence of the economy on oil will also affect growth levels over the longer term as Kazakhstan's oil revenue will remain vulnerable to fluctuations in global commodity prices.
Kazakhstan has observer status in the World Trade Organisation, having applied to join in 1996.
