Switzerland to assist Kazakhstan in recovering illegally withdrawn assets

The two countries have signed a memorandum on acceleration and simplification of information exchange / Photo: gov.kz, photo editor: Arthur Aleskerov

Kazakhstan and Switzerland have agreed to collaborate in the sphere of criminal investigation and assets reclaiming, as reported by the General Prosecutor’s Office. The two countries have signed a memorandum aimed at accelerating and simplifying procedures designed for evidence and data exchange.

The document was signed on Nov. 5, during a meeting between Kazakhstan’s Prosecutor General Berik Assylov, Swiss Attorney General Stefan Blättler and Vice Director of the Federal Office of Justice of Switzerland Laurence Fontana Jungo in Bern.

«The two sides have discussed a wide range of issues related to international and legal cooperation on criminal cases and raising the efficacy of mechanisms designed for recovering illegally withdrawn assets,» the agency said in a statement.

Thus, Assylov informed his counterparts about Kazakhstan’s reforms aimed at recovering illegally withdrawn assets, establishing a special fund and reclaiming more than $3.5 billion since 2022. The official also emphasized that Kazakhstani authorities pay significant attention to the protection of foreign investments, including those from Switzerland.

In turn, Swiss officials have expressed their readiness to assist Kazakhstan’s efforts to reclaim assets and supported the country’s intention to join the European Convention on Mutual Assistance in Criminal Matters.

After negotiations, the two sides have signed an intergovernmental memorandum of understanding and mutual legal assistance in criminal matters. The document is aimed at accelerating and simplifying the exchange of evidence and information related to criminal matters, including the recovery of illegally withdrawn assets.

Switzerland is one of the biggest foreign investors in Kazakhstan’s economy with $32.5 billion of investments in total. For instance, Swiss INOKS Capital is negotiating with Qazaqstan Investment Corporation about establishing an agricultural fund for further development of investments in the region.