2020 WTO Ministerial conference to take place in Nur-Sultan
Kazakh Prime Minister Askar Mamin held a meeting of the Council on Investment Climate Improvement, where the issues of Kazakhstan’s membership in the World Trade Organization (WTO) were discussed, Strategy2050.kz refers to the official website of the Prime Minister.
The head of Cabinet noted that in order to be among top 30 countries of the world by 2050 the GDP needs to grow at an annual rate of 5% and achieve the level of investment in fixed capital at a rate of 30% of the GDP by 2024.
“Direct foreign investments are an increasingly important source of investment and as such Kazakhstan should take a proactive role in attracting investments”, Mamin said.
The Kazakh PM informed that Nur-Sultan will play host to the 12th Ministerial Conference of the World Trade Organization in June 2020.
“It is a great opportunity for us to demonstrate the Kazakh economic and investment policies’ openness and will confirm the country’s status as an active member of the multilateral trading system”, the Prime Minister said.
Kazakhstan became an official member of the WTO in 2015.
In its cooperation with the WTO, Kazakhstan has upgraded some legal acts in currency regulation, pricing and competition promotion, taxation, customs regulation, import licensing, intellectual property protection, food safety, including though technical regulation, sanitary and veterinary measures.
In order to facilitate the business doing procedures and improve the investment climate Kazakhstan has amended more than 50 legal acts. In June this year the Ministry of Trade and Integration of Kazakhstan has been established destined to form and carry out the domestic and foreign trade policies of the country and promote WTO cooperation.
