Great Britain suppots Kazakhstan’s accession into WTO, America hinders it 04 декабря 2013, 16:04
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Great Britain suppots Kazakhstan’s accession into WTO, America hinders it
Great Britain is interested in Kazakhstan’s early accession into the World Trade Organization (WTO), Tengrinews reports citing office the Minister for Economic Integration of Kazakhstan.
"Minister for Economic Integration of Kazakhstan Zhanar Aitzhanova had a meeting with Lord Stephen Green, Great Britain's Minister of State for Trade and Investment, on the first day of the 9th WTO Ministerial Conference. He pointed out that Great Britain -- one of Kazakhstan's leading investors -- is interested in Kazakhstan joining the WTO as soon as possible," the message says.
According to him, Kazakhstan's WTO membership will provide stability of the investment environment for the British companies that are operating in Kazakhstan and provide for further increase of trade.
The 9th Ministerial Conference, participated by Zhanar Aitzhanova, is taking place in Bali, Indonesia on December 3-6, 2013.
According to the press-release, the amount of the bilateral trade made $2.3 million and British investments into Kazakhstan have totaled at $11.7 billion as of the end of 2012.
By the end of 2012, the share of WTO member countries in Kazakhstan’s external trade reached 96.51%; with the European Union's share standing at 41.05% ($54.6 billion), Russia’s at 17.59% ($23.4 billion) and China’s at 16.28% ($21.7 billion).
Aitzhanova said that initially Kazakhstan was planning to enter the WTO in 2014. Kazakhstan voiced its intention to enter the WTO back in 1996. The same year the nation obtained an observer status within the organization.
In late October 2013 Kazakhstan's President Nursultan Nazarbayev offered Russia to jointly negotiate Kazakhstan accession into the WTO.
"We are facing a wall right now. We were moving together with Russia, upholding its defense level but now we are stuck. (...) The only way is to create a joint Kazakh-Russian delegation and negotiate with the European Union and America that are hindering use from the accession into the WTO," the President of Kazakhstan said.