ASTANA — 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.
Flags of the Turkic states. Photo credit: wikimedia
“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.
Kazakhstan’s foreign trade with OTS countries reached $10.4 billion in the first eight months of the current year. According to Bekenov, the agreement is designed to expedite customs procedures for goods and vehicles, streamlining international trade. Key objectives include speeding up customs operations, reducing paperwork, and minimizing control measures through a risk management system.
This law follows another agreement signed by President Tokayev on June 27, ratifying the framework for international combined freight transport between the governments of the OTS member states. The agreement focused on developing transit, trade and transport potential with simplified international transportation procedures.
