President Tokayev Approves Simplified Customs Corridor for Turkic Countries
Kazakh President Kassym-Jomart Tokayev signed a law ratifying the agreement to create a simplified customs corridor between member states of the Organization of Turkic States (OTS) on Sept.23. The move aims to boost trade and enhance economic integration among Turkic countries.
Kazakhstan’s foreign trade with OTS countries hit $10.4 billion in the first eight months of this year. Bekenov stated that the agreement aims to expedite customs processes for goods and vehicles, making international trade more efficient. Key goals include accelerating customs operations, cutting down on paperwork, and reducing control measures via a risk management system.
This legislation builds on an agreement signed by President Tokayev on June 27, which ratified the framework for international combined freight transport among OTS member states, focusing on enhancing transit, trade, and transport capabilities through simplified procedures.
“The ratification of the agreement will contribute to the development of trade and economic relations and strengthen mutual economic integration between the OTS member states,” said Nurlan Bekenov, a Senate Deputy, during a parliamentary discussion of the law on Sept.13.(Source:astanatimes)
