The Kazakh government supports the World Trade Organization’s initiative on investment promotion
The most effective way towards the quick economic growth is the development of joint projects, Kazakh experts believe. The Kazakh government supports the World Trade Organization’s initiative on investment promotion. Since its establishment, the WTO has been engaged in regulation of trade and political relations between member states, particularly, 164 participants. Experts say that there won’t be full-fledged trade relations between countries without potential investors willing to invest in production and to increase the volume of exports and imports. Trade wars, economic turbulence in some states, and other factors may have negative impact on the world trade. In order to prevent this, the WTO member states are planning to develop uniform rules for attracting and triggering the investment. The Permanent Representative of Kazakhstan to the WTO says that there is a possibility that an agreement on investment promotion will be adopted as part of the Twelfth Ministerial Conference of the WTO, which will be held in Astana in 2020.
ZHANAR AITZHANOVA, PERMANENT REPRESENTATIVE OF KAZAKHSTAN TO WTO:
- The WTO member countries are conducting discussions on the investment facilitation and on creating a single competitive field for Kazakh and foreign investors. There are no different preferences that lead to the complicated business climate. Instead, there are uniform rules of the game. These uniform rules are adopted by the WTO agreement. Therefore, all countries that have signed this agreement will be required to comply with the rules.