The agreement is aimed at facilitating customs control of goods and vehicles between the member states to promote the development of international trade
The Senate deputies debated today the Law “On the ratification of the Agreement between the governments of member states of the Organization of Turkic States (OTS) on the development of a facilitated customs corridor”, Kazinform News Agency reports.
For the past eight months, the foreign trade between Kazakhstan and OTS member states reached 10.4 billion US dollars.
The agreement is aimed at facilitating customs control of goods and vehicles between the member states to promote the development of international trade.
Ratification of the agreement is expected to bolster trade and economic relations and strengthen mutual economic integration between the countries of the Organization of Turkic States.
In June the Head of State signed the Law "On theratification of the Agreement on international combined cargo transportation between the OTS member countries".
As earlier reported, in 2023, the volume of freight transportation between Kazakhstan and OTS member countries made 40 million tons, which is 15% more against 2022 (31 million tons).
The ratification of the Agreement will contribute to further increase in the volume of freight transit through Kazakhstan which will positively impact the development of the country’s transport and transit potential, Marat Karabayev, Minister of Transport of Kazakhstan, said presenting the document.
In general, the adoption of the law does not entail any negative, socio-economic, legal and (or) other consequences as well as financial costs from the national budget.
Photo credit: Kazinform.
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