Baku, Azerbaijan, Dec. 1
By Elena Kosolapova - Trend: The Eurasian Economic Union may get benefits from Kazakhstan's membership in the World Trade Organization (WTO) despite the existing contradictions in the principles of work of these organizations, Head of the Eastern Europe, Caucasus and Central Asia programme at FRIDE (Foundation for the Foreign relations and external dialogue) (Spain) believes.
"I think Kazakhstan's WTO membership and participation in the Eurasian Economic Union do not necessarily have to conflict; after all Russia is also a WTO member so this might also have a positive benefits for the EEU," Jos Boonstra told Trend.
The expert noted that Kazakhstan will also benefit from accession to the WTO as it will help to strengthen regulations and maybe even reforms in the economic governance of the country.
"It is also good news for countries with which Kazakhstan trades and for the Central Asian region that would benefit from more WTO members," Boonstra said.
Moreover the expert noted that Kazakhstan's largest trade partner and biggest investor is the EU. He believes that Kazakhstan's joining the WTO could likely help to spur these ties while an initiated EU-Kazakhstan Enhanced Partnership and Cooperation Agreement will now probably come closer to ratification.
On Nov. 30 Kazakh President Nursultan Nazarbayev said that Kazakhstan de jure become a full member of the WTO.
Kazakhstan applied to join the WTO in 1996 and completed the talks on the terms of accession to the organization in June 2015.
The WTO, created in 1995, is aimed at international trade liberalization and regulation of trade and political relations among the member states.
The Eurasian Economic Union is an international integration union created on the basis of the Customs Union and the Common Economic Space. It united Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia.
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