WTO accession will bring slow benefits for Kazakhstan

Subject

Kazakhstan's WTO membership.

Significance

Following almost two decades of negotiations, WTO members adopted Kazakhstan's terms of entry at the General Council meeting on July 27. Economic Integration Minister Zhanar Aitzhanova hailed it as an historic achievement for his country. Kazakhstan will become the tenth post-Soviet state to join the WTO, following Russian accession in 2012. Kazakhstan is also a member with Russia and Belarus of the Eurasian Economic Union (EEU), which recently enlarged to include Armenia and Kyrgyzstan.

Impacts

• WTO membership is an important step towards Kazakhstan's future economic liberalisation and global integration.
• Economic slowdown in both Russia and China will curtail the benefits of WTO membership in the near term.
• Liberalisation of the service sector will add to consumer choice.