(VOVworld) – Kazakhstan has become the 162^nd member of the World Trade Organisation (WTO), following nearly 2 decades of negotiations.

Kazakh President Nursultan Nazarbayev (L) and WTO Director-General Roberto Azevedo during the signing ceremony of the accession of Kazakhstan to the WTO at the WTO headquarters in Geneva, July 27, 2015 (Photo: AFP)

At a meeting Monday at its headquarters in Geneva, the WTO General Council officially approved Kazakhstan’s membership. Kazakh President Nursultan Nazarbayev was on hand to witness the formal acceptance by the WTO council and signed a protocol on the event with WTO Director-General Robert Azevedo. Nazarbayev said Kazakhstan is ready to promote co-operation with other WTO member countries. Zhanar Aitzhanova, Kazakh Minister of Economic Integration, pledged comprehensive liberalisation of Kazakhstan’s economy, especially in telecommunications, decreased import taxes, and support for foreign investment.