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UK-Kazakhstan Investment Forum held in London

9 November 2017 11:09 3114
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UK-Kazakhstan Investment Forum held in London

  ASTANA. KAZINFORM Kazakhstan Ambassador to the UK, Yerlan Idrissov, Governor of the AIFC, Kairat Kelimbetov and the deputy chairman of the Board of the National Company Kazakh Invest Birzhan Kaneshev took part in the UK-Kazakhstan Investment Forum organized by the City of London Corporation in partnership with the Department for International Trade, the Astana International Financial Centre, Kazakh Invest and the Embassy of the Republic of Kazakhstan in the United Kingdom, the Kazakh diplomatic mission's press service reports.

Kazakh delegates told the participants of the conference about the course of Kazakhstan's economic modernization, the country's investment strategy, as well as the new prospects for investment cooperation between the two nations.

Representatives of the British business circles and international financial institutions also had a chance to learn about Kazakhstan's privatization of state-owned companies program and the activities of Kazakh Invest and the Astana International Financial Center.

Speaking at the forum, Ambassador Idrissov noted that over the 25 years of cooperation Kazakhstan-UK relations have grown into a strategic partnership and that as one of the largest investors into its economy, the UK has become an important trading and economic partner for Kazakhstan.

It should be noted that currently, Kazakhstan and the UK actively cooperate in terms of creation and development of AIFC, a privatization program, interaction within the framework of the Chinese Belt and Road initiative, etc.

In his turn, AIFC Governor Kairat Kelimbetov spoke about the privileges the Astana International Financial Center offers to investors, adding that the AIFC has everything to become the new gateway to Eurasia.

Addressing the forum, Birzhan Kaneshov told the participants about the new approaches the Kazakh Invest National Company is using in its work with potential investors. He also added that the UK's foreign direct investment into Kazakh economy has exceeded $20 billion and that Kazakhstan views the United Kingdom as a priority partner in terms of attracting investments.

The Lord Mayor of the City of London, Dr. Andrew Parmley, noted the great opportunities the two countries have with regard to expanding cooperation both within the framework of the Belt and Road initiative and the development of the AIFC. In particular, according to him, London is ready to provide comprehensive support to Astana in it becoming the largest financial center in the region. In addition, he said, the UK can take an active part in Kazakhstan's privatization program.

During the individual sessions, the participants of the conference discussed the future activities of the Astana International Financial Center and its institutions, such as the AIFC Court, the International Arbitration Center, the Astana Stock Exchange, etc.

The forum resulted in Kazakh Invest signing a memorandum of cooperation with the British Chamber Of Commerce in Kazakhstan, as well as a memorandum of understanding with the European Bank for Reconstruction and Development. In addition, the AIFC signed a trilateral agreement with the City of London and the London Stock Exchange on training and development of personnel for the Astana Stock Exchange.

During the visit to London, Kazakh delegation also held meetings with the representatives of the UK companies operating in Kazakhstan and potential investors, including Aggreko, Metalysis, Sentinel, William Hare, ConnectIreland, International Development Ireland, and other companies.

UK-Kazakhstan Investment Forum held in London 
UK-Kazakhstan Investment Forum held in London 

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