Kazakhstan will attract more investors after joining WTO

Kazakhstan will be able to attract more investors after entering the World Trade Organizations (WTO), Kazakhstan Vice-PM Kairat Kelimbetov said at Kazakhstan-British business forum. “We expect to attract many investors when Kazakhstan joints the WTO thanks to a more attractive investment climate,” Kelimbetov said. He reminded that the country will enter this organization at the end of 2012 or in the beginning of 2013. The forum’s participants were also interested in the advantages and risks in cooperation of Kazakhstan with Russia and Belarus in the framework of the Customs Union. Vice-PM reminded that the decision to establish the Customs Union was made in the year of the beginning of the economic crisis. “In the very beginning of the crisis we decided to create good conditions for doing business in our country and remove all administrative barriers,” he said. “The model that we used during creation of the CU is the model of the EU, a tested and ideal model when bigger countries can co-exist with smaller countries. We can see now that the common currency is not the only solution for development of the economy. We are speaking of the common currency and budget policy. We are coordinating the currency policy,” he said. The 3rd Kazakhstan business forum was held in London. It was organized by British Chamber of Commerce under support of Kazakhstan Government and Kazakhstan embassy in Great Britain. The forum covered development of the business relations between Kazakhstan and Great Britain, strengthening of the investment climate in Kazakhstan, further prospects of Kazakhstan’s economic integration into the European space, as well as the key directions in development of the industrial-innovative program, agricultural and cargo transit potential of the country.