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The study offers a comprehensive and integrated assessment of the key trade and investment policies that need to be addressed as part of the Government of Kazakhstan's overall economic reform program. The report also examines the need for technical assistance and training activities in support of those reforms. The approach followed in the study considers Kazakhstan's trade and investment policies as consisting of the design and sequencing of three interrelated components: institutional capabilities, trade policies and investment regulations, and macroeconomic policies. The objective of trade and investment policy and customs and administrative regulations reforms are shown to depend on the internal consistency of the separate measures in the economic reform program. Internal consistency in turn depends on whether the design of trade and investment policies is consistent with conditions prevailing in the country, whether trade and investment reforms are adequately linked with domestic reforms, and whether new incentive systems are a sustainable part of the reforms. USAID Regional Mission for Central Asia (75 pages). April 1995.