Member-countries of the Customs Union (CU) and the European Free Trade
Association (EFTA) plan to establish a free trade zone (FTZ). The
talks on establishing the zone will start on November 23 in Geneva,
the Ministry of Economy and Economic Development says, KazTAG reports.
EFTA members are Iceland, Norway, Switzerland and Liechtenstein. The
first round of talks will be held on January 11, 2011.
The free trade agreement with the EFTA is held within the framework of
unifying the foreign trade regimes of Belarus, Kazakhstan and Russia.
Russia was the initiator of the FTZ between the CU and EFTA.
In 2010 the countries developed and agreed on joint negotiations and
approaches to the agreement. The CU commission approved the
negotiation results. The EFTA has demonstrated a positive attitude
towards expanding the FTZ format and approved mandates for
negotiations between Kazakhstan and Belarus. Kazakh Minister of
Economic Development and Trade Zhanar Aytzhanov is representing his
country.
The EFTA is the second trade partner, after New Zealand, with which
Kazakhstan, Russia and Belarus have held talks as a single regional
block.
The ministry said that 10-12% of the total annual trade turnover of
Kazakhstan comes from trade with Switzerland, Liechtenstein, Norway
and Iceland. It is due to Kazakh oil supplies to Switzerland. Norway
and Switzerland are the main EFTA importers to Kazakhstan. They import
equipment and technologies for oil, telecommunications, food and
pharmaceutics industry.
EFTA members are major investors to Kazakh economy. In 1993-2009 they
invested a total of $3.76 billion.
