OREANDA-NEWS. On August 07, 2008 The sides discussed acute issues of interaction of Kazakhstan and the USA in various sectors, reported the Official website http://en.government.kz.

Today at the Government’s House in Astana Kazakhstan’s Prime Minister Karim Massimov met a US Senate delegation headed by Sen. Harry Reid.

The senators represent a number of US Senate Committees - on foreign relations, budget, small business, finance, banking, housing, health, education and pensions, environment, energy and natural resources.

The sides discussed acute issues of interaction of Kazakhstan and the USA in various sectors.

They also exchanged their opinions on the global economy’s current state, forthcoming Kazakhstan’s OSCE presidency and reforms implemented in the country.

“We have seen the positive work done by Kazakhstan. First and foremost I mean the country’s decision to renounce its nuclear arsenal for the good of the entire human race”, Sen. Harry Reid said.

Besides, the government has been pursuing a sound policy to ensure Kazakhstan’s economy development, the Senator emphasized.

When discussing amendments into the national Tax Code, Kazakhstan’s Prime Minister Karim Massimov said that “the tax burden on companies operating in non-extraction sectors will be decreased. Corporate income tax will be cut down from the current 30% to 15-20%”.

When talking of raising tax rates for companies engaged in extraction sectors, K. Massimov reiterated that Kazakhstan remains committed to its earlier signed contracts.

The Prime Minister also expressed his appreciation of the assistance rendered by the US side to remove administrative barriers to trade.

In his turn, Sen. Harry Reid lauded economic development and reforms being implemented in Kazakhstan: “Kazakhstan was able to use its resources to achieve significant economic progress.

Substantial positive political changes are starting to show. To sum up, I can assert that Kazakhstan will be a power of stability in Central Asia”.

When discussing food security issues, K. Massimov stated that Kazakhstan had been successfully attending to food security issues inside the country. “As a leading state in the region, we are aware of our responsibility and ready to support neighboring countries”.

The sides have agreed to further expand and strengthen bilateral cooperation in trade-and-economic realm and support intra-region interaction.