Tuesday, 02 January 2024 12:17 GMT

Kazakhstan's Kurultai Approves Bill On WTO Services Regulation Rules


(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 16. Kazakhstan's Kurultai has approved in the first reading a bill paving the way for the country to join the World Trade Organization's (WTO) rules on domestic regulation of services, according to the Kazakh parliament.

The bill provides for amendments to Kazakhstan's list of specific commitments on services, which is an annex to the Protocol on the country's accession to the Marrakesh Agreement Establishing the WTO.

Kazakhstan joined the WTO in 2015, ratifying the accession protocol, which includes 18 annexes containing the country's commitments on market access for goods and services.

The WTO rules on domestic regulation of services are aimed at improving the transparency and predictability of the business environment in the services sector. They cover licensing requirements and procedures, qualification requirements and procedures, as well as standards related to services.

"The adoption of the rules will contribute to ensuring fair and transparent regulation of trade in services, simplifying administrative procedures, increasing the transparency of regulatory requirements and creating favorable conditions for foreign and domestic service providers," the Kurultai said.

Kazakhstan's accession to the rules is also expected to make its services market more attractive to foreign investors by aligning domestic licensing and regulatory practices with international requirements.

The rules were developed with the participation of 60 WTO members, with Kazakhstan taking part in the negotiations. The Declaration on the Conclusion of Negotiations on Services Domestic Regulation was adopted in Geneva on December 2, 2021.

As of September 2026, 72 WTO members have joined the rules, according to the Kazakh authorities.

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Trend News Agency

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