Kazakhstan’s foreign trade doubles since joining WTO
Kazakhstan has doubled its foreign trade turnover over 11 years of membership in the World Trade Organization (WTO), Qazinform News Agency quotes Minister of Trade and Integration Arman Shakkaliyev as saying during a briefing at the Qurultay.
“Over the 11 years of our WTO membership, we have doubled our trade turnover. It is important to note that today, 98% of our trade is with WTO member countries. The organization remains a key element of the global trade architecture,” the minister said.
According to Shakkaliyev, joining the WTO has provided Kazakhstan with clear and non-discriminatory rules for accessing key export markets.
“For us, WTO membership means, first and foremost, clear and non-discriminatory rules for entering markets that are important for our exports. These include China, the European Union, and the United States, all of which are WTO members,” Shakkaliyev said.
Earlier, the WTO warned that geopolitical fragmentation of global trade could reduce global GDP by 5.1%.
