Economy News in Brief

An IMF mission led by Hossein Samiei, Division Chief at IMF visited Almaty and Astana on May 22-June 3 to conduct the 2013 Article IV consultation. The mission met with government and central bank officials, as well as representatives of the private sector and civil society organizations. The authorities’ vision of Kazakhstan developing into a major economic emerging market is commendable, but will require concerted efforts to strengthen the policy architecture, the mission said following the trip. The currently stable macroeconomic environment provides a unique opportunity to speed up this process. The mission thanked its counterparts for the helpful and productive discussions.

During the official visit of the President of Latvia to Kazakhstan on 2-4 June, Economy Minister Daniels Pavluts signed a tourism cooperation agreement between the Ministry of Economy of the Republic of Latvia and the Ministry of Industry and New Technologies of the Republic of Kazakhstan on June 3. The goal of the agreement is to continue the development of cooperation between the two countries in the field of tourism, creating effective coordination of information and events in the interests of the two countries. Also, Pavluts took part in the Latvian-Kazakhstan business forum, emphasizing the interest of Latvian businessmen in strengthening cooperation with the countries of Central Asia. Economic relations with Kazakhstan have great potential to develop cooperation in transit, logistics, tourism, information and communication technologies, agriculture and environmental protection, education and science, pharmacy, healthcare and other industries.

Nine agreements on cooperation were signed between the member states of the Customs Union at the Business Forum of the Common Economic Space (CES) in Minsk on May 31. According to Chairman of the Confederation of Industrialists and Entrepreneurs Anatoly Kharlap, five agreements on cooperation in innovation and scientific activity were signed at the forum. Two more agreements will help develop cooperation in tourism. Following the industrial cooperation workshop, MAZ Open JSC and Kazresursprom signed an agreement on the supply of Belarusian MAZ trucks to Kazakhstan. Another agreement in the transport sector was signed between Interavtotrans and WestInterTrans on technical assistance for Kazakhstan’s forwarders on the territory of Belarus.

The establishment of the National Chamber of Entrepreneurs of Kazakhstan will become one of the factors increasing the efficiency of the economy, Deputy Minister of Regional Development of Kazakhstan Serik Zhumangarin said presenting the draft law “On the National Chamber of Entrepreneurs of Kazakhstan” in the Mazhilis of the Parliament of Kazakhstan. “The National Chamber of Entrepreneurs is established by the Government of Kazakhstan and the Republican Union of the Association of Private Enterprise Entities in the form of a non-commercial organization. The National Chamber of Entrepreneurs is formed on the principle of mandatory membership for its entrepreneurship entities registered in Kazakhstan, excluding those that are subject to mandatory membership in the other non-commercial organizations and state bodies,” Zhumangarin said. He also emphasized that when developing the draft law, an analysis of international practices was conducted, showing that consolidating the entrepreneurs in the chambers is one of the most important factors for increasing economic efficiency. Similar associations of businessmen are successfully functioning in Germany, France, Austria, Italy, Turkey, the Netherlands and other countries. “In order to ensure the formation and operation of the National Chamber of Entrepreneurs, a period of one year is given and the transition period is expected to take five years, during which the government jointly with the National Union will be founding members,” he noted, adding that during the transition period, the government reserved the right to veto decisions of the Chamber. Chamber organizers are also proposing the formation of executive and representative bodies in the structure of the National Chamber of Entrepreneurs. Chamber affiliate organizations are expected to be opened in outlying regions, as well as in the regional centers in big cities.