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Kazakhstan-UK Intergovernmental Commission confirms focus on strengthening multifaceted cooperation

by October 25, 2019 Market

Kazakhstan delegation led by Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Roman Vassilenko continued its visit to London with high-level events targeting enhanced multifaceted cooperation between the two states.

The Sixth meeting of the Kazakh-British Intergovernmental Commission

on Trade, Economic, Scientific, Technical and Cultural Cooperation (IGC) chaired by Mr. Vassilenko and the UK Minister of State for International Trade Conor Burns MP took place as part of the visit.

The meeting participants, including over 50 British business executives, discussed the IGC’s progress and developments over the past year and outlined the core areas for future multifaceted cooperation. Prospects for cooperation in oil and gas, finance, education, technologies and mining sectors were also discussed.

The UK is Kazakhstan’s strategic and one of the core trade and economic partners. Our bilateral trade turnover shows positive dynamics from year to year. Kazakhstan’s commitment to opening up to the British and other Western markets can be seen in our government’s continued effort to make investment and trade easier for foreign businesses. As a result, according to the World Bank’s Doing Business 2020 report which was published today, Kazakhstan now ranks 25th out of 190 countries, climbing 3 spots compared to last year, Mr. Vassilenko said.

The Kazakh diplomat called on the need for the two countries to further develop the dialogue based on commodities-for-technologies-and-investment exchange that is then to be followed by setting up joint ventures providing value-added services.

Minister Burns noted the growing UK-Kazakhstan cooperation in the areas of mutual interest � education, oil and gas, mining industry, finance, chemical industry, engineering, metallurgy and civil aviation.

Kazakhstan is precisely the kind of rapidly transforming and diversifying economy that our companies in the UK are aiming. This government stands ready to offer you the support you need to invest in this flourishing market to partner with Kazakh firms and grasp the ripe opportunities that lie ahead, he added.

The IGC session enabled its five working groups to proceed with more detailed debate on cooperation in oil and gas, mining industry, healthcare, education and financial services.

Corporate management development at the Astana International Financial Centre, new Model Civil Aviation Regulations introduction, public-private partnerships projects in healthcare, technical and vocational schools establishment and other topics have been tabled for the working groups discussion.

Given the importance the two countries attach, a specific reference was made to water management in rural areas, animal farming and waste management.

The Sixth IGC meeting was crowned with Protocol signing

that secured the shared intention to join forces to push forward strategic partnership in all areas of cooperation.

The meeting also saw the signing of a number of bilateral documents:

– Memorandum on financing investment projects in Kazakhstan with the participation of British businesses between Baiterek Holding and UK Export Finance;

– Joint Venture Agreement between Artex Construction LLP and Independent Power Corporation PLC (IPC) to create a Clean Energy power development company focusing on a 250 MW gas fired CCGT project in Aktau;

– Memorandum of Understanding between Artex Construction LLP and IPC to create a Digital Joint Venture to develop a greenfield data centre in Aktau where clean, uninterruptible gas fired and renewable energy is required to meet the needs of Western Kazakhstan;

– Agreement between Astra Mining and Kazgeology on the exploration of three deposits in Kazakhstan;

– Agreement between Aurora Mining and RPA Inc on the provision of consulting services in subsoil use.

Source: Ministry of Foreign Affairs of the Republic of Kazakhstan