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Imported goods will be cheaper when Kazakhstan enters WTO

06 april 2012, 10:19
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Vesti.kz stock photo
Vesti.kz stock photo
Kazakhstan's entry into the World Trade Organization will result in imported goods prices cut, Tengrinews.kz reports, citing Andrey Slepnev, Eurasian Economic Commission Minister of Trade. Slepnev met with Zhanar Aitzhanova, Economic Integration Minister of Kazakhstan, and Umirzak Shukeyev, Samruk-Kazyna chairman, in Astana.

Slepnev discussed the process of Kazakhstan entry into the World Trade Organization. Russia has already finalized the negotiations and is planning to become a member of the organization in September this year. The Minister of Trade of Eurasian Economic Commission hopes that Kazakhstan will be able to finalize all the negotiations and will enter the WTO this year as well. According to him, the WTO membership provides a number of positive changes for its member-countries.

“This is a cut in prices thanks to lowering of protective tariff barriers. The total level of customs rates will reduce by 1.5-1.7% when Russia enters the WTO and it will lead to imported goods prices cut. Entry into the WTO will have similar consequences,” Slepnev said.

Earlier Zhanar Aitzhanova, Economic Integration Minister, said that Kazakhstan would supposedly become a WTO member in the middle of 2013.

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