AKIPRESS.COM - President of Kazakhstan Nursultan Nazarbayev addressed the nation on June 22 as the talks on the country's accession to the World Trade Organization (WTO) came to a long-awaited end.

Kazakhstan finalized the negotiations of its World Trade Organization membership terms with WTO members at the Working Party meeting on Kazakhstan’s accession on June 10. 

Members of the Working Party welcomed the conclusion of "one of the most challenging negotiations" in the 20-year history of the Organization.

Kazakhstan will become a 162nd member of the organization, said the president. 

"Membership will open new horizons for our economy and give Kazakhstan a more stable access to foreign markets," he said noting the country's investment attractiveness will grow, too.

It took Kazakhstan 19 years to finally come to favorable terms for the country, said Nazarbayev.

The draft Accession Package spelling out Kazakhstan’s terms of WTO membership was submitted to WTO members for formal approval on June 22. The Package contains the draft report of the Working Party outlining the country's reformed trade regime and its commitments as a WTO member; the draft Schedule of Concessions and Commitments on Goods; and the draft Schedule of Specific Commitments on Trade in Services.