SIMON W. TAI, KIMEP, REPUBLIC OF KAZAKHSTAN
JUNG-WAN LEE, KAZAKH-BRITISH TECHNICAL UNIVERSITY, REPUBLIC OF KAZAKHSTAN
GULZADA S. BAIMUKHAMEDOVA, KAZAKHSTAN ACADEMY OF TRANSPORT AND COMMUNICATIONS, REPUBLIC OF KAZAKHSTAN
Abstract: This study discusses the roles or contribution of trade liberalization and regional economic cooperation for the sustainable economic growth of Central Asia. The authors then propose economic, institutional, and trade policy related recommendations for national leaders and policy makers in the Central Asia region. An economic research paradigm was used to obtain a macro view of Kazakhstan. In general, factors that enhance regional trade development and regional economic integration include improving doing business environment, increasing trade policy coordination, accelerating trade policy liberalization and increasing economic cooperation. To enhance and sustain economic stability and reduce reliance on state-owned natural resource industries, Central Asia should implement alternative development strategies that promote trade liberalization and regional economic integration. Selected policies and practical implications are identified that facilitate free trade and regional economic integration through enhancing free trade agreements and regional economic cooperation, coordinating WTO accession, and creating an institutional monitoring organization.
Keywords: Central Asia, Kazakhstan, Regional economic Cooperation, Trade liberalization, Cross border trade, Economic growth, WTO