Budget revenues from
pharmaceutical products have nearly doubled, while revenues from footwear have
tripled thanks to Kazakhstan’s digital product labeling system. It has improved
market transparency, strengthened consumer protection, and reduced the shadow
economy’s share of GDP. This was announced at a meeting of the Investment Climate Improvement
Council, chaired by Prime Minister Olzhas Bektenov with participation from the
international business community and diplomatic corps. Participants discussed
trade digitalization, noting that Kazakhstan has established the framework for
product labeling by approving both the list of goods and a phased introduction
timeline under the national development plan through 2029. Furthermore, a Trade Policy
Concept extending to 2030 is being developed. Taken together, these measures
contribute to increasing the country’s investment attractiveness.
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