Erlan Idrissov: British businesses take strong interest in AIFC opening
Mr. Idrissov highlighted that the relations between the two countries have been consistently strengthened over the past 26 years, reaching the level of strategic partnership in 2013. Both countries focus on the development of economic ties, as well as trade and investment cooperation.
The bilateral trade keeps expanding. Amounting to $1.28 billion at year-end 2017, it grew by 1.5% in contrast to the previous year. Over 800 legal entities, subsidiaries, and representative offices with British participation have been registered in Kazakhstan. The largest of them have been included in high-profile Kazakhstani business organizations such as the Foreign Investors' Council under the President of Kazakhstan.
In addition to being one of Kazakhstan's top ten largest trading partners, the United Kingdom is among the six largest foreign investors in Kazakhstan's economy. Over the past 13 years, the inflow of the UK's direct investment into Kazakhstan has exceeded $12 billion, or about 5% of the total foreign investment attracted to the country.
The entrepreneurs of the United Kingdom are taking a strong interest in the forthcoming official opening of the Astana International Financial Center. The Center officially uses English as a working language and its legal system is based on the principles of English law. The judicial and arbitration bodies of the AIFC are headed by well-known internationally recognized British lawyers.
Further development of bilateral cooperation in digital economy and high technologies, as well as projects related to finance, agriculture, transport and logistics, is very promising.
Kazakhstan intends to continue building up comprehensive cooperation with the United Kingdom as a strategic partner.