CA-NEWS (KZ) - Kazakhstan and Switzerland have signed an agreement to avoid double taxation, reported Kazakh Finance Ministry.

The document was signed by the Kazakh Finance Minister Bolat Zhamishev and his Swiss counterpart Hans-Rudolf Merz in Astana on Friday.

"The agreement provides for stable tax relations, elimination of double taxation, exchange of information to improve the investment climate and establish closer economic ties between the 2 countries," said the Ministry.

"For Switzerland, Kazakhstan is the second biggest foreign trade partner after Russia. For Kazakhstan, Switzerland represents the country, which accounts for almost 60% of the republic's trade in Europe," Zhamishev noted.

According to him, there are currently 37 Kazakh-Swiss companies operating in Kazakhstan.