EU-Kazakhstan Trade And Business Cooperation Development Discussed In Almaty
ALMATY – Today the second workshop on “Implementation of the EPCA: Challenges and Opportunities to Kazakhstan and EU business” in the framework of European Union funded project “Implementation and awareness raising of the trade and business chapters of the Enhanced Partnership and Cooperation Agreement (EPCA) and of Kazakhstan’s membership in the WTO” was held in Almaty.
The project aims to identify the legal gaps in the specific areas covered by the Agreement’s trade and business chapters. In particular these include trade in services, establishment and operation of companies, government procurement, capital movement, intellectual property rights, customs, sanitary and phytosanitary measures and standards and to elaborate the actions needed for effective implementation of the EPCA provisions.
The event was opened by EU Ambassador to Kazakhstan Traian Hristea and attended by Kazakhstani state officials, European and Kazakhstani business and diplomatic corps. The workshop participants were informed on the key findings of the initial legal gap analysis, the results of practical implementation and the changes, which Kazakhstan might consider to undertake in order to better implement the Trade and Business provisions of the EPCA. During the interactive discussions there were identified the main obstacles and challenges faced by the European and Kazakhstani private businesses when trading across the board and doing business in Kazakhstan, and also the problems that need to be addressed, as well as the ways to overcome them in order to benefit from the advantages provided by the EPCA.
The study, which will continue its activities until February 2018, is carried out within the EU-funded project ”Implementation and awareness raising of the trade and business chapters of the EU-Kazakhstan EPCA and of Kazakhstan`s membership in the WTO” under the EU Partnership Instrument. The first workshop was held in March 2017 in Astana.
The Enhanced Partnership and Cooperation Agreement (EPCA) between the EU and Kazakhstan was signed on 21 December 2015 in Astana and entered into provisional application on May 1 2016. The Agreement upgrades trade cooperation with a commitment to ensure the application of fundamental WTO rules and principles in bilateral trade relations between Kazakhstan and the EU. This will ensure a better regulatory environment for the economic operators in areas such as trade in services, the establishment and operation of companies, capital movements, procurement and intellectual property rights. Over the past decades, the EU has become Kazakhstan’s first trading partner with almost 40% of the total Kazakhstan foreign trade turnover in 2016 and first foreign investor, representing over half of total FDI in Kazakhstan. Bilateral trade amounts to above EUR 31 bln.
For further details please contact Mrs Svetlana Alzhanova, Project Team Leader at tel: 87013669078, e-mail: email@example.com or Ms Elnara Bainazarova, Press and Information Officer of the EU Delegation to Kazakhstan: + 7 (7172) 974567, e-mail: firstname.lastname@example.org .