NUR-SULTAN – Kazakh Minister of Trade and Integration Bakhyt Sultanov spoke about the key tasks of the ministry for the near future during the Aug. 20 meeting with the population.
Bakhyt Sultanov
The ministry will continue to work on the draft strategic directions for the development of Eurasian economic integration until 2025. It provides the opportunities for economic cooperation in new areas – healthcare, education, science, tourism, sports and environmental protection.
“We need to strengthen trade and economic integration. And we will support our national interests in this field. It is important to lower barriers… Now the time has come for practical work in the economic union. All the country’s interests are included in the draft Development Strategy of the Eurasian Union. They ensure unhindered access of domestic goods to the markets of the member states,” said Sultanov.
The ministry will implement comprehensive plans to ensure economic growth in 2020. “We will restore business activity in a short period and provide support to exporters,” Sultanov noted.
The legislative improvement measures and tools to support business and develop trade infrastructure are included in the draft State Program for the Development of Trade 2021-2025.
The ministry also plans to create a multi-format commodity distribution system. “Twenty-four wholesale distribution centers will operate in all regions by the end of 2022. It allows for the creation of a national system of delivery of goods with the lowest costs and expenses of domestic producers. The system will ensure price stability and eliminate seasonal and rush deficit surges,” explained Sultanov.
A unified information system for receiving complaints and an interdepartmental council will protect consumers’ rights and control the decisions taken by government agencies.
The authorities are also interested in promoting the development of digital platforms. “We are working to introduce additional exemptions from individual income tax (IIT) and corporate income tax (CIT),” added Sultanov.
The ministry and the National Bank are also working out ways to develop e-commerce through payment systems.
To date, 13 digital trade platforms operate in Kazakhstan. According to the forecasts of the Ministry of Trade and Integration, the volume of online shopping will reach 900 billion tenge (US$2 billion) by the end of this year and 2 trillion tenge (US$4 billion) by 2022 or 13 percent of all retail trade. The share of e-commerce will reach 15 percent of the market by 2025.
