Logo
  Wednesday, December 2, 2020
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Kazakhstan's accession to the World Trade Organization (WTO) will make its market reforms irreversible
Kazakhstan's accession to the World Trade Organization (WTO) will make its market reforms irreversible, the Central Asian republic's president said Friday. Addressing the 14th session of the Foreign Investor Council in the capital Astana, Nursultan Nazarbayev said: "Kazakhstan's joining the WTO will certainly help cement the favorable investment environment in the country and make sure its market reforms are irreversible." According to Nazarbayev, WTO membership will provide most-favored nation treatment for Kazakhstan's goods and services on WTO markets, and will mean it will only have to pay the domestic rates maintained within the country of destination. Once Kazakhstan's legislation is brought into line with the key WTO agreements, it will raise the competitiveness of its goods and services, the president said. Accession to the WTO would also eliminate trade barriers for products from Kazakhstan, which has seen its GDP grow by 83% on the back of energy exports in the past seven years, on their way to member states' markets. Nazarbayev said WTO nations accounted for 50% of Kazakhstan's overall trade. "After Russia and Ukraine join the organization, the figure will rise to 90%, which is why it is essential for our country to trade with large trade partners within a common legal space," the president said. Nazarbayev also said after Kazakhstan's foreign trade was harmonized with WTO requirements, it would become more transparent and reduce corruption. Kazakhstan is one of the most vibrant economies among the former Soviet republics
Print Kazakhstan's accession to the World Trade Organization (WTO) will make its market reforms irreversible Bookmark Kazakhstan's accession to the World Trade Organization (WTO) will make its market reforms irreversible

Related News   
OctNovember 2005Dec
MoTuWeThFrSaSu
31123456
78910111213
14151617181920
21222324252627
2829301234
567891011