Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development
Kazakhstan is facing its greatest economic challenge since the global crisis. With oil prices at US$50 per barrel, the country urgently needs to adjust its economic model and find new sources of economic growth. Kazakhstan main export has been crud...
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| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/750981493645588464/Turning-the-tide-in-turbulent-times-leveraging-trade-for-Kazakhstans-development http://hdl.handle.net/10986/26673 |
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okr-10986-266732021-05-25T09:00:08Z Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development World Bank MACROECONOMIC POLICY REGIONAL INTEGRATION WTO WTO ACCESSION TRADE POLICY TRADE FACILITATION LOGISTICS INFRASTRUCTURE Kazakhstan is facing its greatest economic challenge since the global crisis. With oil prices at US$50 per barrel, the country urgently needs to adjust its economic model and find new sources of economic growth. Kazakhstan main export has been crude oil, considered a low-complexity mineral products, which has made the country extremely vulnerable to shocks. For Kazakhstan to reach high income status it will need to move up the value chain and find new sources of growth. However, new opportunities are arising. China's new Silk Road initiative, renewed regional integration efforts through the Eurasian Economic Union, CAREC and WTO accession are opening up new prospects for Kazakhstan to integrate more successfully with the region and the world and to position itself as a key trade and transit corridor between Asia, Europe, and the Middle East. While Kazakhstan outperforms its regional peers in terms of overall business environment, it still ranks poorly in trading across borders. Kazakhstan is embarking on an economic transformation at a time where new global trends are reshaping economic fundamentals. As countries in Asia and Europe enhance their living standards, opportunity costs will matter more than direct transport costs, resulting in increasing opportunities to transport goods from East Asia to Europe. 2017-05-19T18:54:05Z 2017-05-19T18:54:05Z 2017-05-01 Report http://documents.worldbank.org/curated/en/750981493645588464/Turning-the-tide-in-turbulent-times-leveraging-trade-for-Kazakhstans-development http://hdl.handle.net/10986/26673 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Policy Notes Economic & Sector Work Europe and Central Asia Kazakhstan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
MACROECONOMIC POLICY REGIONAL INTEGRATION WTO WTO ACCESSION TRADE POLICY TRADE FACILITATION LOGISTICS INFRASTRUCTURE |
| spellingShingle |
MACROECONOMIC POLICY REGIONAL INTEGRATION WTO WTO ACCESSION TRADE POLICY TRADE FACILITATION LOGISTICS INFRASTRUCTURE World Bank Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| geographic_facet |
Europe and Central Asia Kazakhstan |
| description |
Kazakhstan is facing its greatest
economic challenge since the global crisis. With oil prices
at US$50 per barrel, the country urgently needs to adjust
its economic model and find new sources of economic growth.
Kazakhstan main export has been crude oil, considered a
low-complexity mineral products, which has made the country
extremely vulnerable to shocks. For Kazakhstan to reach high
income status it will need to move up the value chain and
find new sources of growth. However, new opportunities are
arising. China's new Silk Road initiative, renewed
regional integration efforts through the Eurasian Economic
Union, CAREC and WTO accession are opening up new prospects
for Kazakhstan to integrate more successfully with the
region and the world and to position itself as a key trade
and transit corridor between Asia, Europe, and the Middle
East. While Kazakhstan outperforms its regional peers in
terms of overall business environment, it still ranks poorly
in trading across borders. Kazakhstan is embarking on an
economic transformation at a time where new global trends
are reshaping economic fundamentals. As countries in Asia
and Europe enhance their living standards, opportunity costs
will matter more than direct transport costs, resulting in
increasing opportunities to transport goods from East Asia
to Europe. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| title_short |
Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| title_full |
Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| title_fullStr |
Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| title_full_unstemmed |
Turning the Tide in Turbulent Times : Leveraging Trade for Kazakhstan's Development |
| title_sort |
turning the tide in turbulent times : leveraging trade for kazakhstan's development |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/750981493645588464/Turning-the-tide-in-turbulent-times-leveraging-trade-for-Kazakhstans-development http://hdl.handle.net/10986/26673 |
| _version_ |
1764462362092371968 |