Baku, Azerbaijan, Oct. 6
Trend:
The requirements about the norms of the local content in goods, work and services purchased by subsoil users will be removed from the norms of the legislation by 2021 as a result of Kazakhstan's accession to the WTO, Magzum Mirzagaliyev, the Vice-Minister of Energy of the Kazakh Republic, News-Kazakhstan news agency reported.
While addressing the forum of suppliers to the oil and gas sector in Almaty Oct. 6, he said that WTO accession will be a serious challenge for our domestic producers and domestic suppliers of work and services.
"According to the agreements reached during the WTO accession, Kazakhstan has undertaken an obligation limiting the country's role on the subsoil use market," he said. "Thus, the requirements about the local content in goods and the current conditional discount at a rate of 20 percent for the Kazakh suppliers will be removed from the norms of the legislation."
Mirzagaliyev said that Kazakhstan has reached an agreement with the member-states about the transitional period until January 1, 2021 during the negotiations on WTO accession.
In late July, Kazakhstan signed a protocol on WTO accession. Officially, Kazakhstan will become the 162nd member in late 2015 following the settlement of all procedural formalities.
Edited by CN