Askar Mamin held meeting of Council on improving investment climate
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At a meeting of the Council on improving the investment climate (CIIC), chaired by Prime Minister Askar Mamin, Kazakhstan’s membership in the World Trade Organization (WTO) was discussed, Kazpravda.kz reports with reference to the press service of the Prime Minister of Kazakhstan.
Reports on the state and prospects of Kazakhstan’s membership in the WTO, as well as proposals for improving the investment climate in the country, were made by the US ambassadors W. Moser, Great Britain - M. Gifford, Canada - N. Brusso, the European Union - Sven-Olov Karlsson, accredited in Kazakhstan , Canada's Permanent Representative to the WTO, S. Boer, US Deputy Assistant to Trade Representative Z. Reyazuddin, Shell Kazakhstan Vice President and Country Chairperson O. Lazar, OMV Petrom Managing Director D. Baru, Globalink President S. Khan, Baker & MacKenzie partner A. Yorsch.
The Head of Government noted that in order to enter the 30 most developed countries of the world by 2050, it is necessary to ensure an annual GDP growth rate of 5%, with the level of investment in fixed assets reaching 30% of GDP in 2024.
The Prime Minister said that in June 2020, the 12th Ministerial Conference of the WTO is planned to be held in Nur-Sultan.
Kazakhstan has been an official member of the WTO since 2015.
To facilitate business processes and improve the investment climate in Kazakhstan, amendments to more than 50 legislative acts have been introduced. In June this year, the Ministry of Trade and Integration of the Republic of Kazakhstan was created, aimed to form and implement the country's internal and external trade policy, including interaction with the WTO.