The Majilis of the Parliament of Kazakhstan approved the draft Law
"On ratification of the Agreement on mutual Recognition of bank Guarantees in the implementation of state (municipal) procurement."
The agreement was developed to implement Strategic directions for the development of Eurasian economic integration until 2025.
For participation in public procurement of one Member State, bank guarantees issued by resident banks of another Member State will be recognized.
The agreement also defines the requirements for banks to issue bank guarantees, approaches to forming a list of banks, as well as maintaining a register of bank guarantees.
The ratification of the document will ensure unhindered access of potential suppliers of the Union countries to mutual participation in public procurement, as well as strengthen economic cooperation on a long-term and stable basis.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/887124