Kazakhstan, OECD agree on Services Trade Restrictiveness Index project

20 November, 2018, 13:04 363
Kazakhstan, OECD agree on Services Trade Restrictiveness Index project

The Services Trade Restrictiveness Index for Kazakhstan will be one more significant stage in cooperation with the OECD. 

 

November 19, 2018, in Paris, an agreement between the government of the Republic of Kazakhstan and the Organization for Economic Cooperation and Development on the Services Trade Restrictiveness Index project (STRI) was signed as part of the OECD Eurasia Week, BNews.kz reports referring to the Ministry of National Economy of Kazakhstan. 

The document was signed by Minister of National Economy of Kazakhstan Timur Suleimenov and the OECD Trade and Agriculture Director. 

The Services Trade Restrictiveness Index for Kazakhstan will be one more significant stage in cooperation with the OECD. 

The agreement signed enables OECD experts to study our legislation in the sphere of services and licensing, to reveal the existing barriers and to grant the index to Kazakhstan reflecting an objective assessment of openness and closure of the market.   

In its turn, the index is a significant indicator of investment attractiveness while holding international talks in the sphere of services enjoying trust among an even greater number of states.   

It is noteworthy that the Services Trade Restrictiveness Index is one of the conditions for Kazakhstan to join the OECD Trade Committee, which is key in the OECD. 

STRI is a unique diagnostic tool of its kind based on factual data. It enables to study barriers to trade services. As of today, this index is calculated in 44 states providing more than 80% of world trade in services. It is also calculated for non-members of the OECD, including Russia, China, Brazil, India, the South African Republic and so on.