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Kazakhstan faced tough competition in the Customs Union: Minister

12 june 2012, 19:14
0
Kazakhstan Minister of Industry and New Technologies Asset Issekeshev. Photo by Danial Okassov©
Kazakhstan Minister of Industry and New Technologies Asset Issekeshev. Photo by Danial Okassov©
Kazakhstan Minister of Industry and New Technologies declared that the country faced tough competition in the Customs Union, Tengrinews.kz reports.

“The changes are currently happening faster than we thought. Entering into the Customs Union triggered a tough competition with Russian and Belarus companies. The competition will be even tougher when we enter the WTO (World Trade Organization).

"Unfortunately, the global economy has not yet been settled after the crisis and is unlikely to be settled in the nearest years. For sure, there will be no big inflow of money.

"This year we hope to launch Kashagan (oil field at the Caspian Sea). You know that we will have plans for big oil production and non-oil sector will face the difficulties,” Asset Issekeshev said at the government meeting in the Majilis (lower chamber of the parliament). He also stated that these factors made the government take a decision to upgrade the accelerated industrialization program.

“We are currently analyzing and preparing an proposal on a partial adjustment of the State Program of Accelerated Industrial-Innovative Development, as half of the 5-year period has passed. We need to adjust and enhance the support with the external factors in mind. The most important is that the corrections will be small, as all the actions have been defined and the work is in process in all regions and oblasts, the investors are arriving every day. But now we have to think of the second 5-year period and plan it well. That’s why we are working on it,” the Minister said.

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