Negotiations on Kazakhstan’s WTO accession continue


Negotiations on Kazakhstan's WTO accession continueThe 11th sitting of the working group on Kazakhstan’s WTO accession was held in Geneva, the Secretariat of the Ministry of Economic Integration of Kazakhstan informs.

Minister of Economic Integration Zhanar Aitzhanova headed the delegation of Kazakhstan.

“The total trade turnover of Kazakhstan in 2011 made USD 125 bln with the positive trade balance of USD 50 bln. The direct foreign investments attracted into the economy of Kazakhstan in 2011 made USD 147 bln,” Minister Z. Aitzhanova said presenting a report on socio-economic development of the country over the recent years.

The Minister also familiarized the members of the working group with newly adopted Laws and signed agreements which were called on to improve the legal framework and stimulate economic processes in the country.

“Representatives of the USA, China, Brazil, Saudi Arabia, Turkey, Mexico, Pakistan, Japan, Switzerland, India, Argentina and many others including the EU expressed their support regarding the issues of Kazakhstan’s WTO accession,” the statement by the Ministry reads.

It was announced at the session that Kazakhstan would submit a new draft Report with consideration of all expressed recommendations during the discussion process by June 1, 2012.

The next sitting of the working group in an enlarged format is planned to be held at the end of July in Geneva. Currently, multilateral negotiations focused on the issues of foreign trade policy of Kazakhstan and regarding the volume of support to agricultural sector are held.