Kazakhstan is set to establish a
registry of unscrupulous participants in exchange trading. Socially significant
goods, including coal, wheat, and petroleum products, will be singled out from
the general list of such auctions. Trading in these commodities will only take
place on exchanges included in a special list that will be determined by the
government on a competitive basis. The corresponding bill, featuring these and
other updates, was presented at the Government’s meeting by Kazakh Minister of
Trade and Integration Arman Shakkaliyev. He emphasized that all measures are
aimed at addressing key issues, such as ensuring transparent pricing for
producers and tightening regulatory requirements for the exchanges themselves.
Additionally, the draft law proposes a review of requirements for maintaining
commercial confidentiality on the exchange. All information about participants
and transactions is suggested to be made publicly available, allowing for the
tracking of commodity flows. The relevant ministry also proposes excluding
exchanges from the category of micro and small business entities.
“All the tasks set by the Head of
State were reflected in the draft law. As a result, exchange trading is expected
to play a pivotal role in driving the growth of trade, the economy, and
domestic production. The key outcome will be the establishment of transparent
market pricing and enhanced control over the financial flows of exchange
trading participants,” Shakkaliyev said.
“I am instructing public
authorities to coordinate the draft resolution of the government on the bill
regarding exchange trading within two days. The Kazakh Ministry of Digital
Development, Innovation and Aerospace Industry is tasked with enhancing the
information security of commodity exchange software, taking into account
existing global standards. The Ministry of Trade and Integration, together with
the Ministry of Justice and the Agency for the Protection and Development of
Competition, should develop a set of amendments to the Administrative Offenses
Code to tighten the responsibility of commodity exchanges and their
participants,” said Kazakh Prime Minister Alikhan Smailov.
