Baku, Azerbaijan, Nov. 27
By Elena Kosolapova - Trend:
Manufacturers of Kazakhstan will maintain their privileges during the transition period after the country joins the World Trade Organization (WTO), the Ministry of Investment and Development of Kazakhstan said.
In particular, domestic producers can take advantage of a temporary reduction factor to the rates when transporting their goods within Kazakhstan.
Customs duties on cars after the country's accession to the WTO for five years will gradually fall from 23 percent to 12.5 percent.
In addition, transitional period until July 1, 2018 regarding the investment agreements concluded within the "industrial assembly" has been agreed upon.
Enterprises in the special economic zones and free warehouses, registered before January 1, 2012 will retain benefits in the form of exemption from customs duties until January 1, 2017.
The requirements for the local content in obligations of subsoil users in contracts concluded before January 1, 2015, regarding the purchase of goods before the end of the transitional period (six years), or until the expiration of the initial term of the contract will be also saved.
The local content requirement of 50 percent will be retained in the contracts for works and services.
Deputy Minister of Foreign Affairs of Kazakhstan Alexey Volkov said earlier that Kazakhstan will officially join the WTO December 15, 2015.
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