Kazakhstan Tightens Product Safety to Protect Its Stock Market
Kazakhstan has introduced a new law to improve product safety and stock market standards. The legislation, adopted on 30 December 2020, shifts the focus of inspections from businesses to the products they sell. Officials say the change aims to block unsafe and substandard goods from entering the stock market today.
The law follows concerns over widespread violations in technical regulation, accreditation, and measurement standards. In 2020, 83 inspections uncovered breaches in 60% of cases. As a result, authorities revoked or suspended 5,087 certificates of conformity, 4,231 declarations of conformity, and 1,562 calibration certificates. Violators also faced administrative fines totalling 18,567,642 tenge.
The law represents a major shift in Kazakhstan’s approach to stock market oversight. By targeting products directly, authorities hope to reduce risks linked to unsafe goods. The changes come after years of high violation rates in technical and safety standards.
