Kazakhstan is to join the Swiss constituency in the International Monetary Fund (IMF) and World Bank.
The agreement was reached on Friday when Swiss Finance Minister Hans-Rudolf Merz and his Kazakh counterpart, Bolat Zhamishev, initialled a Memorandum of Understanding.
Merz and Zhamishev also signed a revised double taxation agreement (DTA) during their meeting on Friday in the Kazakh capital Astana.
The Memorandum of Understanding governs the cooperation between the two countries in the Swiss constituency in the IMF and World Bank.
Switzerland has wanted Kazakhstan to join the Swiss constituency, which already includes Azerbaijan, Kyrgyzstan, Poland, Serbia, Tajikistan, Turkmenistan and Uzbekistan.
In a statement, the Swiss finance ministry said Kazakhstan’s membership would “strengthen the constituency’s position in the governance reform under way in the Bretton Woods Institutions [IMF and World Bank]”.
swissinfo.ch and agencies
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