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Kazakhstan, Belarus ink memo of coop in trade regulation

3 March 2020 17:58
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Kazakhstan, Belarus ink memo of coop in trade regulation

NUR-SULTAN. KAZINFORM Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev met with First Deputy Minister of Antimonopoly Regulation and Trade of the Republic of Belarus Ivan Vezhnovets as part of the Trade and Economic Mission of the Republic of Kazakhstan in Belarus, according to primeminister.kz.

The parties discussed the experience of countries in regulating prices for socially significant food products and measures to combat unfair competition in the consumer market.

In particular, Kairat Torebayev shared information on Kazakhstan's instruments of regulation and promotion on the shelves of domestic goods.

«It is quite difficult to stabilize prices in a market economy. And since it is impossible to tune the market using prohibitive methods, we are working to stabilize prices for socially significant food products. Last year, a ‘revolving scheme’ was launched — issuing a loan to retail chains to replenish working capital, followed by an obligation to sell socially significant food products at lower than market prices. We also have radical measures: if the threshold values of retail prices for the products are exceeded, the maximum allowable retail prices for them can be set up to 90 days during the year,» Torebayev said.

He also said that in the framework of the fight against intermediaries, Kazakhstan is working to create a modern distribution system: a network of wholesale distribution and agro-logistics centers.

The Belarusian side was interested in the experience of Kazakhstan in maintaining prices with the help of stabilization funds. They also asked the Kazakh side to share information on their experience with trading networks with retro bonuses.

The parties discussed the experience of states in protecting consumer rights in the context of the digital transformation of the economy, as well as the exchange trade in food products.

In general, the parties came to the conclusion that it is necessary to deepen cooperation and information exchange between the ministries in terms of regulating trade activities, protecting consumer interests and ensuring healthy competition.

In conclusion, the Ministry of Trade and Integration of the Republic of Kazakhstan and the Ministry of Antimonopoly Regulation and Trade of the Republic of Belarus concluded a Memorandum of Cooperation in the field of regulation of trade and public catering, protection of the domestic consumer market.



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