​Kazakhstan and United Kingdom Intend to Strengthen Trade and Economic Cooperation in High-Tech Areas

ASTANA, October 8, 2018 – During a meeting of Foreign Minister Kairat Abdrakhmanov with the UK's Minister of State for Trade Policy George Hollingbery, both sides confirmed their intensions to strengthen bilateral trade and investment cooperation in all areas of mutual interest.

George Hollingbery, who has recently been appointed as Co-Chairman of the Kazakh-British Intergovernmental Commission on Trade and Economic Cooperation, expressed admiration for the pace of development of Kazakhstan and the capital Astana, which celebrated its 20th anniversary this year. The British Minister, who is in Astana to take part in the 5th meeting of the Commission, expressed his readiness to provide further assistance in the development of trade and investment cooperation.

In turn, the Foreign Minister of the Republic of Kazakhstan thanked the British Minister for his appreciation and noted that regular contacts at a senior level plays an important role in the development of cooperation. Foreign Minister Abdrakhmanov stressed that Kazakhstan was aiming to achieve better economic development and increase the standard of living for all Kazakh citizens, as outlined in the State of the Nation Address delivered by President Nursultan Nazarbayev voiced last week.

During talks, both sides stated the strategic importance of Kazakh-British relations, especially relating to the comprehensive expansion of trade and investment ties.

The vast potential for deepening cooperation across digitalization, infrastructure projects, mining and agriculture was noted.

A special interest was expressed in the joint development of the economic potential of Kazakhstan within the framework of the Nurly Zhol Program and its convergence with the Belt and Road Initiative.

The parties agreed to further develop multifaceted cooperation within the framework of the existing and new mechanisms of bilateral political and economic cooperation.

Note to Editors

The UK is one of Kazakhstan's top 10 trading partners as measured by turnover, as well being among the six largest investors, accounting for almost 5% of foreign investments. In 2017, bilateral trade between Kazakhstan and the United Kingdom increased by 1.5% and amounted to $ 1.28 billion. More than 800 British-linked businesses operate in Kazakhstan.

Created at : 8.10.2018, 16:20, Updated at : 8.10.2018, 16:20