The role of WTO and the Customs Union in the country’s competitiveness increase

Economic Annals-ХХI: Volume 154, Issue 9-10, Pages: 28-31

Citation information:
Kapysheva, S., Tursumbaeva, M., Kamenova, M., & Kopzhasarova, U. (2015). The role of WTO and the Customs Union in the country’s competitiveness increase. Economic Annals-XXI, 9-10, 28-31. https://ea21journal.world/index.php/ea-v154-06/

Saltanat Kapysheva
PhD (Economics),
Kazakh University of Economics, Finance and International Trade
7 Zhubanova Str., Astana, 010005, Kazakhstan
saltik_ksk@mail.ru

Madina Tursumbaeva
PhD (Economics),
Kazakh University of Economics, Finance and International Trade
7 Zhubanova Str., Astana, 010005, Kazakhstan
tursumbaeva_m@mail.ru

Mazken Kamenova
D.Sc. (Economics),
Professor,
Kazakh University of Economics, Finance and International Trade
7 Zhubanova Str., Astana, 010005, Kazakhstan
mazken_kamenova@mail.ru

Umit Kopzhasarova
PhD (Pedagogical Sciences),
E. A. Buketov Karaganda State University
28 Universitetskaia Str., Karaganda, 100028, Kazakhstan
umit_55_hope@mail.ru

The role of WTO and the Customs Union in the country’s competitiveness increase

Abstract. The article analyzes the current state of business communities, assesses their competitiveness, as well as positive and negative aspects of its accession to the WTO. It shows the dynamics of Kazakhstan’s foreign trade turnover. In the course of the research, the authors have concluded that Russia and Belarus will benefit most from the economic activities of the Customs Union, as they are able to satisfy domestic demand need and come up with a surplus for export. By joining the WTO, Kazakhstan expects the trade preferences in international operations and the attraction of foreign investment. In our opinion, Kazakhstan needs, first of all, to develop its industrial production and agriculture, to increase the share of domestic consumption of national products. In the long term, it is expected that WTO membership will result in small business starting to compete with foreign companies.

Keywords: Customs Union; WTO; Kazakhstan; Businessmen; World Trade Organization; Business Community

JEL Classification: F15; F20; F23; F43; L14; M13

References

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Received 22.09.2015