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
“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE).
more »
According to the unaudited data for three quarters 2009, AB Bank SNORAS earned LTL 4.1 million profit. Although the inter-banking market of the country fixed the banks’ asset decrease (- 4.6 per cent) since the beginning of the year, the assets of Bank SNORAS grew by LTL 249.3 million and were by 4 per cent higher than at the beginning of 2009.
more »
Taking into account changes on domestic money markets AB DnB NORD Bankas, a member of international financial group shall change individual and corporate time deposit rates from November 5.
more »
FL Technics, the leading aircraft maintenance, repair and overhaul (MRO) provider in Eastern Europe, has signed contracts with Air Italy and Air Slovakia for Boeing 737-300 aircraft base maintenance in Lithuania.
more »
Thales UK’s headquarters site in Weybridge has recently held a Halloween charity coffee morning, raising more than £280 for Marie Curie Cancer Care.
more »
New SaaS-Based Vulnerability-Scanning Solution Is Latest Addition to Company’s Application Security Program.
more »
Since 31 October 2009, only LTL 0.99 fee for accepting payments will be applied to clients while making payments for various services (utility fees, communication services, etc.) in all subdivisions of Bank SNORAS.
more »
AB DnB NORD Bankas, the country‘s leader in investment products market, offers a new possibility for the clients to make repurchase deals (repo deals) in the bank’s newly installed on-line trading platform.
more »
The benefits of the integration of eastern Europe’s financial systems into the world economy outweigh the costs that have been highlighted during the global economic crisis, the EBRD has concluded in a new report.
more »
On 22 October 2009, following the favourable opinion expressed in September by the Committee for Fisheries and Aquaculture, the Commission adopted a Regulation establishing the implementing rules for the 2008 Regulation to prevent, deter and eliminate illegal, unreported and unregulated (IUU) fishing.
more »