On January 24, 2025, the Head of State signed the Law of the Republic of Kazakhstan “On Ratification of the Agreement on Mutual Recognition of Bank Guarantees in the Implementation of State (Municipal) Procurement”.
The Agreement establishes the mutual recognition of bank guarantees, which will increase the opportunities for suppliers of member states to participate in public procurement in other EAEU countries.
Kazakhstani entrepreneurs can participate in public procurement in the EAEU countries with bank guarantees issued by Kazakhstani financial institutions on equal terms in the EAEU member states.
This will reduce the need for national enterprises to issue new bank guarantees in other EAEU countries.
It should be noted that the public procurement market of the EAEU member states amounts to 100 billion USD. The adopted agreement removes restrictions for national enterprises.
The procedure for ratifying the Agreement has been completed in all EAEU member states.

Source : https://www.gov.kz/memleket/entities/mti/press/news/details/926944