Kazakhstan Chamber of Commerce in the USA

KazCham


Kazakhstan to become WTO member in mid-December

Posted on November 29, 2015 by KazCham

Business Intelligence

The Kazakh Deputy Minister of Foreign Affairs, Alexei Volkov, has announced that Kazakhstan will be officially recognized as a member of the World Trade Organization (WTO) on 15 December.

In addition, Volkov said that Astana expects the European Union to recognize Kazakhstan as a country that has a market economy, and therefore hopes to be granted a permanent normal trade relations (PNTR) status from the US through the cancellation of the Jackson–Vanik amendment.

The Jackson–Vanik amendment to the Trade Act of 1974 is a 1974 provision within US federal law intended to affect US trade relations with countries with non-market economies that restrict the freedom of emigration and other human rights.

This amendment primarily affected the USSR and, as a consequence, the post-Soviet countries. The US repealed this amendment for Russia in 2012.

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