Nazarbayev delivers speech on WTO membership

    President Nursultan Nazarbayev addressed the nation yesterday, June 22 as the talks on the country's accession into the World Trade Organization (WTO) came to a long-awaited end.
    Kazakhstan finalized the negotiations on its terms of its membership in the World Trade Organization with WTO members at the Working Party meeting on Kazakhstan’s accession on June 10.
    Members of the Working Party welcomed the conclusion of "one of the most challenging negotiations,” in the 20-year history of the organization.
    Kazakhstan will become the 162^nd member of the organization, said the president.
    "Membership will open new horizons for our economy and will give Kazakhstan more stable access to foreign markets," he said, while noting the country's investment attractiveness will grow as well.
    It took Kazakhstan 19 years to finally achieve favorable terms, said Nazarbayev.
    The draft Accession Package spells out Kazakhstan's terms for WTO membership, and was submitted to the WTO members for formal approval on June 22.
    The package contains the draft report from the Working Party outlining the country's reformed trade regime and its commitments as a WTO member; the draft Schedule of Concessions and Commitments on Goods; and the draft Schedule of Specific Commitments on Trade in Services, according to Kazinform.