(VOVworld) - The Kazakh Lower House has approved a cooperation agreement aimed at bolstering trade and investment with Vietnam.

Oil and gas - a promising investment co-operation between Vietnam and Kazakhstan (Photo: Talkvietnam)

At the Monday Plenum of the Lower House, Kazakh Minister of Economy and Budget Planning Erbolat Dossaev said the agreement is comprehensive and addresses the areas of exports, nationalization, and compensation in addition to procedures for setting up an international tribunal for the settlement of disputes. During the first eleven months of 2013, two-way trade between Vietnam and Kazakhstan reached more than 200 million USD. Mr. Dossaev called oil and gas cooperation between Kazakhstan’s Joint Stock Company NC KazMunaiGas and the Vietnam Oil and Gas Group (PetroVietnam) a promising investment area.