Legal matters of the modern silk road between the people’s Republic of China and the Republic of Kazakhstan

Abstract

The Silk Road was one of the biggest trade routes between East and West, but due to some historical reasons, particularly reorientation of trade and political  relationships with the other seaside countries that had large demand of goods, the  Silk Road became unprofitable. However, in 2013 the President of the People’s  Republic of China Mr. Xi Jinping introduced the new strategy, which will integrate the world economy from East to West. The study identifies possible legal issues and barriers of the “One Belt, One Road” strategy as well as the ways of its promotion by analyzing past and current relationships between the People’s Republic of China and the Republic of Kazakhstan. The first part of this article tries to identify the  customary rules of the ancient Silk Road, especially the regulatory framework of  trading relationships existing between China and Kazakhstan. The second part  introduces the modern Silk Road program, which concept tries to restore the most prosperous trading activity. Finally, the third part discusses the future perspective of the concept by answering questions on how to develop and modernize this  strategy in order to get mutual benefits to both parties. The paper concludes with the need for the promotion and prosperity of this concept, particularly in the legal regulation of current relationships with due regard to features of the legislation of both countries in order to avoid legal collisions.

Key words: “One Belt, One Road”, investment regulation, promotion of investments in Kazakhstan, Chinese investment.