Good news for East-West trade as Kazakhstan joins Carnet system
23 March 2017
There is good news for East-West trade with a decision by the Chamber of International Commerce of Kazakhstan, Astana to join the World Chamber Federation (WCF) ATA Carnet system from April 1.
From next month Kazakhstan customs will accept ATA Carnets for the temporary admission of goods for display, or use, at exhibitions, trade fairs, meetings as well as for professional use becoming the 76th guaranteeing body to join the WCF/ATA Caret system.
ATA Carnets, which translates to "book of temporary admission tickets", can be used for temporary exports – where goods are not to be sold - to fast-track customs in more than 80 countries belonging to the Carnet scheme without the need to pay duty and/or local tax on their arrival.
They are widely used by businesses to obtain duty free import and fast clearance of professional equipment, commercial samples and goods for trade fairs as well as by touring theatre companies, film crews and musicians touring overseas.
Kazakhstan has the largest and strongest performing economy in central Asia and was the first former Soviet Republic to repay all of its debt to the International Monetary Fund, seven years ahead of schedule.
Kazakhstan’s economy, supported by rising oil output and prices, grew at an annual average of 8% until 2013, before suffering a slowdown in 2014 and 2015, although the country’s economy still grew by 4.6% in 2014.
Other major exports of Kazakhstan include wheat, textiles, and livestock. Kazakhstan is a leading exporter of uranium.
Georgia, which has a nominal GDP of around US$13.98bn, is expected to join the ATA system soon. The country is moving towards a services economy, including tourism, from one with a large dependence on agriculture.
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