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
In January 2009, the EBRD commissioned two Italian consultants to study Turkey's sustainable energy market in preparation for future investments.
more »
Next week a delegation of more than 50 Chinese businessmen, accompanying the Chinese Vice-Premier Hui Liangyu, are arriving to Lithuania.
more »
The German developer “ECE” together with Lithuanian partners opened a new shopping and entertainment centre Ozas Gallery in Vilnius.
more »
As it embarked on an ambitious stimulus spending, Thailand turned to the World Bank for advice on how to fast track the spending coupled with proper management controls to keep programs on the rails.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
On Monday AB DnB NORD Bankas started placement of a 13-month fixed-rate Lithuanian government bonds. It is the first time when Lithuanian sovereign USD denominated securities will be available on Lithuania’s retail market.
more »
The Swedish business daily Dagens Industry published an interview with Andrius Kubilius, the Prime Minister of Lithuania, to Bloomberg News.
more »
The economic crisis still has a firm grip on large parts of the world. But Sweden’s Minister for Trade Ewa Björling can see bright spots.
more »
The European Bank for Reconstruction and Development and KfW Entwicklungsbank (The German development bank) are providing a financing programme worth up to €28.9 million to MegaBank - one of the strongest regional banks in the eastern Ukraine.
more »
A settlement in an international tax dispute that strained U.S. ties with Switzerland.
more »