business and economy
Kazakhstan to simplify labyrinthine customs rules
Kazakhstan plans to simplify export and import regulations which the World Bank has labeled as the world’s most complicated, the government said on Tuesday.
Central Asia’s biggest economy and oil producer ranked 178th out of 178 countries surveyed by the World Bank in its 2008 “Doing Business” report in terms of time and money required to arrange standard import and export deals.
Bowing to pressure to liberalise the sector, Kazakh Prime Minister Karim Masimov appealed for urgent reform at a government meeting on Tuesday.
“Prepare and present by next Tuesday a set of proposals to amend legislation in order to simplify customs procedures,” Masimov told Finance Minister Bolat Zhamishev.
According to the World Bank, exporting a standardised cargo of goods requires 12 documents, takes 89 days and costs $2,730 to arrange. An import procedure involves 14 documents, costs $2,780 and takes 76 days.
By Raushan Nurshayeva (Reuters)
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