Simon Crean, Minister for Trade in the Australian Federal Government, welcomed completion overnight of bilateral market access negotiations with Kazakhstan as a part of its World Trade Organization (WTO) join application.
“Bilateral agreement signed in Geneva today will improve trading conditions for Australian exporters and enhance access to Kazakhstan’s market once Kazakhstan becomes a member of WTO,” he said.
The deal covers key Australian export interests on both goods and services.
“Australia and Kazakhstan enjoy a developing bilateral relationship,” Crean said.
The deal will lock in current low tariffs and contribute to improved market access for goods such as meat and dairy products, sugar, wool, fruit and nuts, wheat, barley and telecommunications equipment. On services, there are gains for mining services and greater certainty for Australian contractors supplying services in the market.
Merchandise trade between Australia and Kazakhstan doubled in the period of 2007-2008 to US$36 million.
A number of Australian companies are pursuing investment opportunities in Kazakhstan mining, oil and gas and services sectors. There is also growing Australian interest in Kazakhstan infrastructure development, agriculture and education sectors.
Kazakhstan still has to complete bilateral negotiations with some other WTO members, including the United States, and continues to negotiate overall terms of its membership in WTO, Webnewswire reported.
