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Wednesday, September 18th, 2019

Trade turnover between Kazakhstan and Great Britain increases significantly

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Minister of Investments and Development Zhenis Kassymbek met with Minister of State for Trade and Investment of the United Kingdom of Great Britain and Northern Ireland Greg Hands.

I would like to note with great pleasure the high dynamics of the development of bilateral relations over the years. The United Kingdom is one of Kazakhstan’s key strategic partners in Europe, � Zhenis Kassymbek noted.

The meeting considered issues of interaction in developing trilateral cooperation on implementing the concept “Silk Road Economic Belt” in the format China-Kazakhstan-United Kingdom.

Today, over 15 transit routes of container trains between China and Europe pass through the territory of Kazakhstan. Last year, 104.5 thousand containers were transported in the route PRC-Europe- PRC, which is twice the volume of 2015 (49.9 thousand containers).

In 2017 the first container freight train on the route Zhejiang (PRC) – London (Great Britain) was sent. The delivery time from China to the UK was exactly 18 days, which is 30 days less than via cargo ship.

Currently, the commission has 4 working groups, including in the fields of education and science, energy, mining and finance.

United Kingdom is one of Kazakhstan’s top 10 trade partners of in terms of turnover. The United Kingdom is one of the 6 largest investors in Kazakhstan. Over the past 12 years, the inflow of direct investment from the UK to Kazakhstan has exceeded 12 billion USD (from 2005 to the 1st quarter of 2017, FDI inflow amounted to 12,278.2 million USD), representing almost 5% of total foreign investments.

The volume of commodity turnover between Kazakhstan and the United Kingdom for January-April 2017 amounted to 422.6 million USD, which is 26.6% more than for the same period in 2016 (333.7 million USD).

Source: Government of the Republic of Kazakhstan

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