BMI View: Kazakhstan remains the most attractive pharmaceutical market in Central Asia, in terms of the overall regulatory environment and ease of doing business compared to neighbouring countries. The domestic market is constrained by the relatively small size of the population and daunting infrastructure challenges. Pending World Trade Organisation (WTO) accession, expected as soon as this year, as well as Kazakhstan’s membership in the Customs Union (CU) with Russia and Belarus should drive continued improvements in regulation and harmonisation, assuming the contradictions of membership in the two groups (such as common external tariffs) can be ironed out. Meanwhile, foreign investors …
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