Kazakhstan’s views on future of WTO discussed in London

LONDON, 26 May 2020 – Ambassador of Kazakhstan to the United Kingdom Erlan Idrissov spoke at an online discussion of the future of the World Trade Organisation (WTO), as well as the impact of the COVID-19 pandemic on the global economy. The online conference was hosted by International Business and Diplomatic Exchange (IBDE) and was attended by high-ranking representatives of the diplomatic corps accredited in London, as well as leading British business executives.

The Kazakh diplomat highlighted that the pandemic caused major disruptions in the global economy and in particular in its fundamental component – global trade. The key institution of this system – WTO – is experiencing a crisis exacerbated by the lack of trust among major powers, trade disputes and the rise of protectionism in the international arena. According to Ambassador Idrissov, in the context of a global recession, the WTO’s role becomes even more important, and it is crucial that international actors, especially major players, support it.

Ambassador Idrissov also stressed that Kazakhstan, which recently joined this international organisation, is a strong proponent of WTO’s further development and improvement. According to him, WTO members should collectively work on reforms that will make the organisation responsive, relevant to the actual needs of its member states, and contributing to the recovery of the global economy after the pandemic.

Kazakhstan’s capital city of Nur-Sultan was to host the 12th WTO Ministerial Conference this June, but due to the COVID-19 outbreak, the event was postponed. In this regard, Kazakhstan has announced its readiness to host the Ministerial Conference in June 2021.

As an active WTO member, Kazakhstan hopes that the upcoming conference brings meaningful results that will contribute to the strengthening of the global trading system, as well as allow reaching consensus on a number of important issues on the organisation’s agenda.

IBDE is a London-based not-for-profit, non-political, membership organisation promoting international trade and investment flows, financial and professional services, energy, infrastructure and ICT sectors as well as championing commercial and trade diplomacy. The organisation contributes to bridging the gap between businesses and governments.