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Kazakhstan Signs Law ‘On Ratification of Free Trade Zone Treaty’
Source: trend.az
Source Date: Monday, October 29, 2012
Focus: Institution and HR Management
Country: Kazakhstan
Created: Nov 01, 2012

Kazakh President Nursultan Nazarbayev signed a law "On ratification of free trade zone treaty", Akorda press service reported.

It should be recalled that the Provisions of the Treaty determine the duty-free sales of almost all goods, except for their individual species. Thus, duties will be applied on imports of white sugar and vodka from Ukraine. Furthermore, the treaty will strengthen the right of Kazakhstan to apply export duties on separate kinds of the goods, including oil products, ferrous and non-ferrous metals, rapeseeds and sunflower seeds, natural gas and other gases.

It should be recalled that Prime Ministers of the CIS countries signed treaty establishing a free trade zone on Oct. 18, 2011 in St. Petersburg.

It is noted that the document aims at improvement of the legal base of interstate relations in the light of the principles of the WTO.

The treaty determines order of applying special protective, antidumping, compensatory measures in mutual trade, as well as granting subsidies.

On all disputable issues of applying the treaty, participant states should hold consultations to resolve a disagreement. Otherwise, the case can be transferred to the CIS Economic Court.
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