Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin met with the Trade Envoy of the British Prime Minister in Azerbaijan, Iraq, Kazakhstan and Turkmenistan, Baroness Nicholson of Winterbourne.
At the meeting, the parties stressed the high level of trade and economic relations between the two countries. Serik Zhumangarin noted that the UK is one of the most important strategic partners of Kazakhstan. 30 years of fruitful and effective diplomatic relations are clear evidence of this.
“Over the long years of cooperation, our cooperation has only been strengthened, close and trusting relations have been established. We have created effective bilateral partnership mechanisms, including the Strategic Dialogue at the level of heads of foreign affairs agencies, the Intergovernmental Commission on Trade and Economic Cooperation, the All-Party Parliamentary Group on Kazakhstan in the UK Parliament, and the Business Council,” Zhumangarin emphasized.
The parties discussed the priorities of bilateral trade between Kazakhstan and the UK, especially in the current geopolitical situation. Serik Zhumangarin noted that the United Kingdom is in the TOP-10 investors in Kazakhstan. Since 2005, about $16.4 billion of direct investment from the UK has been attracted to Kazakhstan.
“We are ready to offer British companies favorable conditions and appropriate infrastructure when making decisions on investing in Kazakhstan. The government of Kazakhstan is determined to deepen and strengthen mutually beneficial cooperation with the UK in all areas,” said Serik Zhumangarin.
For her part, Baroness Nicholson also noted the high level of trade partnership between the two countries, emphasizing the readiness to further strengthen mutually beneficial cooperation.
The trade turnover between Kazakhstan and the UK in 2022 increased by 58.7% and reached $1.8 billion (in 2021 - $1.2 billion). Exports grew by 71.1% and amounted to $1.5 billion (from $855.1 to $1462.9 million mainly due to the growth in supplies of oil, copper and cathodes from copper, raw aluminum, ferroalloys, ethyl alcohol, oil products, etc. ). There is an increase in imports by 24.4%, which exceeded $380 million.
By the Kazakhstanskaya Pravda
