Dyusembayeva D., Faizullayeva A.
KAZAKHSTAN’S MEMBERSHIP IN WTO AND ITS IMPACT ON NATION’S ECONOMY *
Аннотация:
This research paper aims to investigate the accession of Kazakhstan to World Trade Organization. It seeks to clarify its future impact on country’s economic growth in long-term period. Along with already applied result of 4 year membership, the comparison with past indicators will be made
Ключевые слова:
investment, export, import, the WTO, market, tariffs
Kazakhstan went through a very hard path in order to join the World Trade Organization. The first time application to accession was sent at 26 January 1996. Only after 19 years in June of 2015 year the WTO adopted Kazakhstan’s membership policy. On July of 1997 all members of World Trade Organization adopted country’s accession documents. Finally, on November 2015, Kazakhstan officially became a member of the WTO (Kourmanova, 2015). Our country expects big changes in long-term. Definitely, the WTO membership provides country with much more opportunities in variety of spheres. The question is how effective they are, and therefore, what kind of consequences they bring. Nowadays, the WTO contains 145 member-countries. It became the worldwide organization and it sets up all the rules and policies regarding trade markets. Therefore, position of the organization and its impact on economy should be crystal clear, which makes this research so actual. Some authors and analytics provided their own predictions regarding the impact of WTO to Kazakhstan’s economy at the moment of just getting the membership. The research makes an analysis of those statements and compares with actual results. Kenzhegali Sagadiyev, Doctor of Economics, Member of the National Academy of Sciences of Kazakhstan, in “Kazakhstan Business Economy” shares his opinion regarding Kazakhstan being in the WTO. He stated that WTO membership will assist to Kazakhstan’s transition to the market economy. In total, domestic goods will gain access to foreign markets with no discrimination what, and additional investment will flow into sectors. He also stated that one of the major issues is risky situation of Kazakhstan domestic market. Therefore, further changes depend above all on country’s domestic market development. (Sagadiyev, 2015) Zhanel Kushukova, Kazakhstan’s vice Minister of Trade and Integration was recently interviewed about the results of WTO membership in last 4 years since the country joined the organization. The vice minister announced the major indicators of World trade Organization’s effectiveness for Kazakhstan. To the question regarding changes in trade since Kazakhstan’s WTO accession, she answered that statistically Kazakhstan improved the regulation and administration indicators, also including the balance between the interests of the entrepreneurs and the government since joining the organization. (Seilkhanov, 2019) The accession to WTO provides Kazakhstan with a number of advantages. The major one is the liberalization of market barriers. The tariffs on export are significantly decreased, so it became cheaper to export goods to Kazakhstan. The liberalization of barriers lead to increase in export to 5515,40 USD million from 3500 USD millions, which were shown before entering the WTO (Agency of statistics of Republic of Kazakhstan). It caused an expansion of market competitiveness in Kazakhstan. Probably the only ones who gain the WTO accession the most are the consumers, as the market probably increased its competitiveness with foreign goods. Therefore, sectors with weak competitiveness indicators were eliminated. In result, Kazakhstan’s import rate is stock at one point on average, there are no rapid improvements. But in long-term period, it is expected to be re-oriented or to adopt. Frequently, the country will get rid of the vital spheres of post-Soviet country characteristics in markets more quickly.
Номер журнала Вестник науки №12 (21) том 2
Ссылка для цитирования:
Dyusembayeva D., Faizullayeva A. KAZAKHSTAN’S MEMBERSHIP IN WTO AND ITS IMPACT ON NATION’S ECONOMY // Вестник науки №12 (21) том 2. С. 102 - 106. 2019 г. ISSN 2712-8849 // Электронный ресурс: https://www.вестник-науки.рф/article/2404 (дата обращения: 24.04.2024 г.)
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