kazakhstan hails completion of historic wto accession talks
Last Updated : GMT 05:36:23
Arab Today, arab today
Arab Today, arab today

Kazakhstan hails completion of 'historic' WTO accession talks

Arab Today, arab today

Arab Today, arab today Kazakhstan hails completion of 'historic' WTO accession talks

President Nursultan Nazarbayev
Astana - AFP

Kazakhstan's president on Monday hailed the "new horizons" opening up to his country after the former Soviet state completed nearly two decades of talks on joining the World Trade Organisation.

The energy-rich nation of 17 million people began accession talks in 1996 but the negotiations were complicated by its membership of the Russian-led Eurasian Economic Union which also includes Armenia and Belarus.

President Nursultan Nazarbayev hailed the completion of talks, saying his government would continue supporting agriculture even after the country formally becomes the WTO's 162nd member in December.

"This is a historic event for us," the 74-year-old said in a video address to the nation.

"Membership of the WTO will provide our enterprises with access to foreign markets, and consumers with a wide selection of goods and services," said Nazarbayev, adding that 90 percent of Kazakhstan's trade was with WTO members.

Talks on Kazakhstan's entry concluded at a Working Party meeting on June 10 in Geneva, with members of the Working Party celebrating the end of "one of the most challenging negotiations" in the international organisation's history.

Speaking Monday after the country's accession package won members' formal approval, European Union Ambassador to the WTO Angelos Pangratis congratulated the Kazakh negotiating team for behaving "diligently and proactively" during the process.

Kazakhstan is now expected to ratify the accession agreement by October 31, the WTO said.

- Rocky road ahead? -
Some experts believe accession could be a bumpy ride for an economy that has struggled on the back of depressed prices for its key crude oil export and economic trouble in sanctions-struck neighbour Russia.

"Kazkhstanis are apprehensive about accession as a whole. Results for our neighbours Russia and Kyrgyzstan have been mixed," economist Tulegen Askarov told AFP.

Askarov, who is president of the Biz Media business journalism centre based in the country's largest city Almaty, said Nazarbayev was right to be cautious over the country's agricultural sector, which is "already extremely vulnerable" to foreign imports.

"People understand our economy is not ready to withstand strong international competition. Even membership of the Eurasian Economic Union, a relatively small bloc, has shown that."

He added however that membership could be a boon for the country's growing services sector responsible for over half of GDP.

Rakhim Oshakbaev, deputy chairman of the National Chamber of Entrepreneurs of Kazakhstan, noted that the country's business community is "still waiting" to learn the conditions under which the country is entering the organisation.

"But membership of the WTO is a signal that tells current and future investors that Kazakhstan is prepared to engage in open, civilized international trade in correspondence with accepted rules and principles," said Oshakbaev.

Kazakhstan's key trade partners Russia and China have been members of the WTO since 2012 and 2001 respectively.

Politicians in the vast country, which is expected to be represented at a WTO ministerial conference in Geneva in December, have ambitions to see the country among the world's 30 most developed economies by 2050.

Last month Nazarbayev, who won a five-year term with almost 98 percent of a presidential vote in April, unveiled an ambitious plan dubbed the "100 Concrete Steps" to boost economic growth and make government more accountable, among other objectives.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kazakhstan hails completion of historic wto accession talks kazakhstan hails completion of historic wto accession talks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kazakhstan hails completion of historic wto accession talks kazakhstan hails completion of historic wto accession talks

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday