On November 30 Kazakhstan de jure will become a full WTO member


Moscow. November 30. Kazakhstan becomes full member of the world trade organization, said the head of state Nursultan Nazarbayev.

“Today, 30 November, Kazakhstan de jure becomes a full member of the WTO,” he said on Monday in Astana, addressing to the people of Kazakhstan. According to him,officially this will be announced at the meeting of the WTO General Assembly.

Nazarbayev expressed confidence that Kazakhstan will overcome the period of oil prices at $20-30 per barrel. He also noted that the international institutions, particularly the world Bank and the Asian development Bank forecast acceleration of growth of economy next year.

In his message the President of Kazakhstan also said that the country will not return to the practice of maintaining the tenge exchange rate at the expense of the National Fund. “Our most important task is to quickly stabilize the financial system, to bring it into line with the new global reality. First, we need to ensure the effective functioning of the financial sector in the conditions of floating exchange rate of tenge. The fundamental point is that the return to the practice of maintaining the national currency at the expense of the national Fund will not be”, – said Nazarbayev.

As reported, Kazakhstan from August 20th moved to a new monetary policy based on inflation targeting regime and freely floating exchange rate of the national currency.