AIFC Authority and QazTrade agree to cooperate in field of e-commerce

NUR-SULTAN. KAZINFORM On August 26, a meeting of representatives of the Astana International Financial Centre (hereinafter – the AIFC), represented by the Governor Kairat Kelimbetov, and the Ministry of Trade and Integration of the Republic of Kazakhstan, represented by Minister Bakhyt Sultanov, took place at the AIFC.

During the meeting, the activities of AIFC and QazTrade were presented, and an agreement was reached on cooperation between Astana International Financial Centre Authority (hereinafter – AIFCA) and QazTrade in the field of e-commerce and non-cash economy in Kazakhstan. The document was signed by Yernur Rysmagambetov, Chairman of the AIFCA Management Board, and Azamat Askaruly, General Director of QazTrade, the AIFC’s official website reads.

One of the important areas will be cooperation on the development of cross-border trade. The Parties intend to cooperate in the field of trade and economic development in the territories of the International Centre for Cross-Border Cooperation «Khorgos», the International Centre for Trade and Economic Cooperation «Central Asia» and other trade zones.

In addition, AIFCA will provide consulting and technical assistance to QazTrade with the implementation of the digital development project of the export portal (export.gov.kz), as well as other digital QazTrade projects. QazTrade will provide all the necessary consulting and analytical support in terms of bringing products and residents of the AIFC Tech Hub Acceleration Program to international electronic platforms.

Yernur Rysmagambetov noted: «At the moment, work is underway to develop regulatory regulation of the e-commerce market based on English law, considering the best world practices. We hope that this will allow attracting international players to the market of Kazakhstan and Central Asia».

Azamat Askaruly said: «We agreed to jointly work on recommendations for improving infrastructure and trade procedures at the cross-border trade and logistics hubs «Khorgos», ICTEC «Central Asia» and others. This is very important, considering the course of Kazakhstan on the creation of border industrial complexes. Many investors, including foreign ones, will be attracted by the opportunity to work in such hubs precisely on the terms of the AIFC».