Kazakhstan lowers barriers
Thai exporters and investors should keep an eye on trade with Kazakhstan as its economy opens, with imminent access to the World Trade Organisation boosting trade and investment between the two countries.
Officials from Kazakhstan and Thailand's Commerce Ministry shared this view at a seminar late last week in Bangkok, saying that the WTO access will force Kazakhstan in the areas of tariff reduction and market deregulation. In particular, its import tariffs will be brought down to between zero and 30 per cent. Napadol Thongmee, minister counsellor (commercial) in Tehran - covering Iran and the Middle East - said Kazakhstan was in the process of restructuring its trade rules in order to apply for WTO membership. "This will create a great export opportunity for Thai businessmen," Napadol said. According to the Economist Intelligence Unit, Kazakhstan reported 9.3-per-cent growth in gross domestic product in 2004. Economic development has been ongoing since independence from the Soviet Union in 1991. A report from the Commerce Ministry said Thailand had faced a trade deficit with Kazakhstan for the past three years. In the first quarter this year, the Kingdom faced a US$2.9-million (Bt110 million) trade deficit - export value was $7.3 million, while imports were $10.3 million. Thai export goods are electrical appliances, air-conditioners and automobiles. Import goods are steel, aluminium and minerals. Bakhitbek Shabarbayev, permanent representative to the United Nations Economic and Social Commission in Asia Pacific, said Kazakhstan's strategic aspiration was to become a modern, diversified economy with a high value-added and hi-tech component. It wants, therefore, to increase trade and investment with Thailand. "The country welcomes Thai enterprises wishing to form joint ventures and trade partnerships with Kazakhstan businesses as the country is an ideal new-development country," he said. Shabarbayev added that three to four of Kazakhstan's leading companies were considering investing in medical industries in Thailand. Rewat Thongprada, the honorary consul for Kazakhstan, said the country had a high demand for all goods and investment due to a lack of technology. Thai businessmen should therefore take this chance to invest or trade with the country. Potential Thai exports include agricultural machinery, food, furniture, medical equipment, restaurants and spa services, Rewat said.
Petchanet Pratruangkrai The Nation
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