The World Bank’s 2024 B-Ready Report reveals the steps ASEAN economies should take to build a more conducive, business-ready environment.

The Kazakhstan economy relies heavily on its oil and gas industry, with most of its exports transported over pipelines that run through Russia to Europe. While dependent on Europe’s oil market, Kazakhstan also has close historical and security ties with neighbouring Russia, putting them in a difficult position when the war in Ukraine broke out.

Free trade agreements have long been hailed by governments and the media as viable solutions that drive major benefits. As world geo-politics and economies shift, we take a look at the benefits — and limitations — of FTAs in the world today.

Trade and investment flows could further worsen as the three major economic engines – US, EU and China – put up fences while pursuing national security-driven industrial policies. It could get worse.