Kazakhstan continues to negotiate with member-states concerning the entrance the World Trade organization
Published:
15 June 2004 y., Tuesday
Kazakhstan continues to negotiate with member-states concerning the entrance the World Trade organization. On June 11, 2004 the Kazakhstani financiers gathered to express their opinion on problem of access of foreign financial services to the bank and insurance market of the country.
One of the conditions of WTO entrance is that the Kazakhstani market must be open for the foreign banks and insurance companies. Today the founding of branches of foreign banks in Kazakhstan is prohibited. There are some arguments for lifting ban. Coming of new banks will consolidate the competition and new bank technologies. And Kazakhstan’s image will be improved as the country with liberal economy. The market of securities will become more active and quality of bank services will become better and different bank services will appear. On the other hand, the Kazakhstani bankers are afraid of lost of most part of the market after the large world banks come. And capital will be sent abroad. According to Zhanat Aitzhanova, Vice Minister of Industry and Trade, most WTO member-states face the problem of control of foreign companies.
- Our negotiations concerning WTO entrance is one-sided process. We receive demands and we must answer them, which are priority ones, and then, making concessions in definite sphere, we should ask preservation of some restrictions in those spheres, which were defined by us, said Zhanat Aitzhanova, Vice Minister of Industry and Trade.
Insurance firms are more categorical in their appraisal. They consider that appearance of foreign insurance companies in Kazakhstan will eliminate this business, which is beginning to develop. Insurance firms suggested to postpone the opening of market and work out the restriction methods.
Šaltinis:
khabar.kz
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission today concluded on the existence of excessive deficits in Cyprus, Denmark and Finland and recommended deadlines for their correction to the Council.
more »
Over 2000 former construction workers in Spain and nearly 600 ex-employees of Irish glass company Waterford Crystal and its suppliers will receive a total of €11 million in aid from the EU Globalisation Adjustment Fund to help with training, business start-ups and job guidance under plans agreed by MEPs and the Council of Ministers.
more »
MEPs on Tuesday decided six top priorities and a number of additional key issues for the upcoming negotiations on the 2011 budget.
more »
The EU-China Science and Technology Week starts today at the heart of World Expo Shanghai.
more »
European Climate Action Commissioner Connie Hedegaard and European Investment Bank President Philippe Maystadt agreed on Monday to explore a joint climate finance initiative for developing countries as part of the European Union commitment made at the UN climate conference in Copenhagen last December.
more »
Sustainability, competitiveness and security of energy supply: the three pillars to the foundation of a new EU energy community.
more »
EU Trade Commissioner Karel De Gucht and Palestinian Minister of National Economy Hasan Abu-Libdeh today discussed measures to enhance EU-Palestinian bilateral trade relations and to facilitate trade of Palestinian products to EU markets.
more »
Some of the most innovative and exciting transport research projects funded by the EU are being showcased at the Transport Research Arena (TRA) in Brussels this week.
more »
Nowadays we rely heavily on satellite positioning and navigation, but the only available technology is American.
more »
The European Commission will reveal how it aims to revamp its transport networks policy in response to the challenges of the 21st century at a conference dedicated to the Trans-European Transport Network (TEN-T) in Zaragoza on 8 and 9 June.
more »