Kazakhstan to enter WTO on Monday

Kazakh President Nazarbayev flies to Geneva for official accession ceremony

Kazakhstan to enter WTO on Monday

World Bulletin / News Desk

An official ceremony of Kazakhstan's enterance to World Trade Organization will be held Monday in Geneva.

The start of accession negotiations are dated back 20 years ago, and were completed on June 10, 2015. In his address to the people, Nazarbayev called it a historic event. "This is a historic event for us. All the leading global economies have recognized Kazakhstan to be a country with favourable investment climate that pursues its trade policy in compliance with norms of international law," the Kazakh president said.

According to Nazarbayev, talks took so long because sensitive topics for Central Asian republic's economy had to be dealt with cautiously. "Support for agriculture was one of the thorniest issues for discussion because they demanded that we reduce agricultural subsidies but we defended our stance," president said.

"We managed to combine the requirements of the WTO and the Eurasian Economic Union (EEU) proceeding from our national interests," he stressed.

After signing the accession treaty, Kazakhstan parliament will have to ratify it within next six months.

The World Trade Organization (WTO), comprising 161 states and territories, is an international body, which supervises global trade. Its main purpose is to further liberalize trade and guarantee fair conditions of competition.  

 

Güncelleme Tarihi: 27 Temmuz 2015, 11:03
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