President Nazarbayev on Kazakhstan’s WTO membership
June 23. Tengrinews
June 22, 2015 President Nursultan Nazarbayev of Kazakhstan commented on completion of the talks for Kazakhstan to enter the WTO, a Tengrinews.kz journalist reports, citing akorda.kz, President’s official website.
“WTO membership opens new opportunities for Kazakhstan. Kazakhstan-based enterprises will enjoy an easier access to foreign markets, while consumers will enjoy a wider selection of goods and services. WTO member states are responsible for 90% of Kazakhstan&rsquos overall foreign trade figure. So the completion of the talks is an important milestone for us. With the membership, Kazakhstan is set to be more attractive for both foreign and domestic investors. There is an ample opportunity to launch new industries and create more jobs”, the statement reads.
The negotiations had been going on for 19 years. Kazakhstan submitted its bid January 29, 1996.
Head of State emphasized that all the time the nation had been defending conditions favoring the national interests. “Among the most debated issues was that of subsidies to the national agriculture (…) there was a demand to reduce the subsidies. However, Kazakhstan defended its stance on the issue. Besides, there were some issues related to the share of Kazakhstan’s goods and services in certain projects, regulation of the financial services and telecommunications services sectors. We have managed to coordinate requirements of the WTO and the Eurasian Economic Union, while safeguarding the national interests”, he said.
President Nazarbayev emphasized that Kazakhstan wouldn’t suspend support to domestic enterprises upon accession into the WTO. “Upon accession, we will not suspend rendering support to domestic producers. From now on the measures of support should be in line with the applicable international rules. Kazakhstan-based businesses have yet to learn to compete with those of other countries both within the Eurasian Economic Union and within the WTO. There’s much work to be done. I’ve told many times that alongside the advantages of the WTO membership, we’ll face a stiffer competition. All the domestic producers will have to grow to meet the global standards”, he said.
Earlier some members of the working group stated that the negotiations process had been one of the greatest challenges for the recent 20 years of the WTO.