13.09.24
the Senate of Kazakhstan's Parliament approved the law ratifying the "Agreement between the Member States of the Organization of Turkic States on the Creation of a Simplified Customs Corridor," as reported by Kapital.kz.
Deputies of the Senate approved the ratification of the agreement on the creation of a simplified customs corridor between the member states of the Organization of Turkic States (OTS), reports a correspondent of the business information center Kapital.kz.
“Trade operators will receive priority service at checkpoints, which will reduce waiting time. Customs clearance procedures will be optimized using separate lanes. Customs inspection will be conducted only in cases where the risk of violation of customs laws is identified, which will reduce downtime and costs,” deputy Bekbol Orynbasarov told at the plenary session of the Senate.
According to him, the new corridor will increase the volume of trade within Kazakhstan. “The advantage for the economy is that the simplification of customs procedures contributes to an increase in the volume of trade, as the time and cost of delivery of goods are reduced. Optimization of customs procedures contributes to lowering the cost of imports, which can lead to lower prices for goods and services within the country,” the deputy said.
After signing the agreement, Kazakhstan will develop and approve technical specifications within six months, followed by the launch of a pilot project. As a result, simplified formalities for trade operators will be applied wherever possible.
