ASTANA – The United Kingdom (U.K) stands out as one of Kazakhstan’s principal trade partners and ranks as the seventh-largest investor in the country’s economy, according to Kazakh President Kassym-Jomart Tokayev, who highlighted these points during a meeting with Nusrat Ghani, the British Minister of Industry and Economic Security on Nov. 21, reported the Akorda press service.
Over 550 British enterprises, including major companies like Shell and Ernst & Young, operate in Kazakhstan, contributing to the bilateral economic relationship.
Tokayev noted a significant increase in trade turnover between the two countries, reporting a 60% growth to $1.8 billion last year.
“We are interested in expanding our trade and investment ties with London. I am pleased to note that the British side is also interested in developing comprehensive cooperation with Kazakhstan,” he said.
Ghani, expressing gratitude for the warm welcome, highlighted the special importance the British side attaches to developing bilateral relations.
Ghani also took part in the tenth meeting of the Kazakhstan-U.K. Intergovernmental Commission on Trade, Economic, Scientific, Technical, and Cultural Cooperation (IGC) with Nazira Nurbayeva, the Kazakh Deputy Foreign Minister, according to the ministrу’s press service.
During the meeting, the parties reviewed the results of the IGC’s activities for 2023 and discussed current conditions and future prospects for expanding trade and economic cooperation. The discussions covered various aspects, including trade, investments, the mining industry, agriculture, water supply, green energy, and education.
Ghani praised Kazakhstan’s efforts to create a conducive business environment in the region and expressed the British side’s interest in deepening partnerships, particularly in extracting and processing critical minerals, infrastructure development, establishing new educational institutions with British participation, and enhancing regional food security.
The meeting resulted in an agreement on a roadmap for strategic partnership in critical minerals for 2023-2024.
The Kazakh Ministry of Higher Education and Science and the Department for Business and Trade of the U.K. signed a memorandum on cooperation in higher education.
The parties decided to convene the next 11th meeting of the IGC in London in 2024.