United Kingdom - The Times Of Central Asia

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Kyrgyzstan and UK building stronger trade and investment ties

BISHKEK (TCA) — On March 1, the second UK Trade Mission is finishing its visit to Kyrgyzstan, having conducted a series of business meetings in the country. On February 28, there were B2G meetings in the Government Office, the Ministry of Culture, Information and Tourism, the Ministry of Education and Science, the State Committee for Industry, Energy and Subsoil Use, and other state agencies. On February 27, B2B meetings took place. Kyrgyzstan becomes a good partner "The reforms that are carried out in Kyrgyzstan allow us to open our country to investors from the new side. We are becoming a good partner," Kyrgyzstan’s Economy Minister Artem Novikov said at the presentation of the UK Trade Mission on February 27. "Our business people can see which contracts could be concluded to improve trade relations with the UK," the minister said and told the guests about the country's investment potential. Kyrgyzstan has great potential for economic growth. For the past six years, the country has managed to double its GDP in nominal terms, Novikov said. In 2017, the total trade increased by 12.5%, with exports growing faster than imports. Trade with the UK has increased fivefold in 2017 compared to 2016, with a significant share of gold and precious metals. The minister expressed the hope that trade between the two countries will also develop in other sectors. The arrival of the UK Trade Mission is of great importance for Kyrgyzstan. In the future, such meetings should be held more than once a year but quarterly or once in six months, and they should be more extended to cover all areas, the minister said. Kyrgyzstan is implementing the Taza Koom (Clean Society) digital transformation program which will reduce corruption and provide business opportunities for development in electronic commerce and other industries. "We have introduced stabilization regimes for investors and adopted a law that opens up opportunities for tax benefits for industrial enterprises. There is a law on public-private partnership and fiscal mechanisms for electronic procedures are being introduced. According to international ratings, our country ranks first in protecting investors among the CIS countries," Novikov added. The minister drew attention to the tourist potential of Kyrgyzstan. "Forbes magazine included Kyrgyzstan in the top ten list of recommended Best Budget Travel Destinations,” he said. Previously, Business Insider included the country in the top 12 emerging travel destinations. Kyrgyzstan was also among the top ten countries tipped for a tourism boom by WTTC. The minister urged British companies to invest in the Kyrgyz processing industry, energy sector, tourism, and light industry. Opportunities for cooperation According to UK Ambassador to Kyrgyzstan Robin Ord-Smith, the trade between the two countries amounted to $5.1 million for 10 months of 2017, and direct investments for 9 months were $27.6 million. The UK wants to achieve an increase in trade between the two countries. There are many opportunities for cooperation between our states in education, the Taza Koom program, providing legal and business services, the Ambassador said. Last year a UK...

United Kingdom Trade Economy Kyrgyzstan

2nd UK Trade Mission to strengthen partnership between Kyrgyzstan and British businesses

BISHKEK (TCA) — From 26 February to 1 March 2018, United Kingdom undertakes second Trade Mission to Bishkek, Kyrgyzstan. A delegation of seven UK companies, led by the London based organization “British Expertise International”, will meet with the Ministry of Economy, representatives of businesses, and international organizations in Bishkek. The event is aimed at establishing stronger relations around education reforms, policy and infrastructure development, provision of media and IT solutions, the British Embassy in Bishkek said. Continue reading

United Kingdom Trade Economy Oil & Gas Turkmenistan Investments

Turkmenistan and Great Britain hold Trade and Industrial Council meeting

ASHGABAT (TCA) — The 6th session of the Turkmen–British Trade and Industrial Council was held in London. A delegation of Turkmenistan took part in the event, organized by the Governments of the two countries and aimed at expansion of bilateral cooperation and establishing business contacts with British companies willing to enter the Turkmen market, the State News Agency of Turkmenistan reported on January 23. The forum was opened by Co-chairman of the Council, Ambassador Ronald Nash, who spoke about the dynamics of Turkmen-British cooperation, and highlighted the role of the Turkmen leader in the comprehensive intensification of Turkmen-British dialog. British business circles were represented by top managers of such companies as Shell, BP, Rolls-Royce, De La Rue, Aggreko, as well as London Stock Exchange. The representatives of Turkmenistan introduced the priorities of the country’s economic policy, its modernization and diversification plans. It was mentioned that cooperation between Turkmenistan and Great Britain is steadily developing. Fuel and energy sector, trade, economic and banking spheres, transport and communications, agriculture and education were highlighted among the leading spheres of cooperation. The sides highlighted the presence of big potential for considerable increase in trade between the two states. In this context, important role is given to the Turkmen–British Trade and Industrial Council, which serves as an efficient platform for discussion of ideas and development of efficient partnership mechanisms. Today, 24 companies with the participation of British capital and 174 investment projects with the participation of British companies to the total amount of 1.5 billion US dollars are registered in Turkmenistan.

United Kingdom Economy Kazakhstan Investments

Kazakhstan discusses joint projects with leading British companies

ASTANA (TCA) — A delegation of Kazakhstan concluded a number of agreements with large British companies during the 4th meeting of the Kazakh-British Intergovernmental Commission for trade, economic, scientific, technical and cultural cooperation held in London last week, the official website of the Prime Minister of Kazakhstan reported. Continue reading

United Kingdom Economy Kazakhstan Investments Finance

Kazakh-British Business Council meets in London

ASTANA (TCA) — The 4th meeting of the Kazakh-British Intergovernmental Commission for trade, economic, scientific, technical and cultural cooperation and the 2nd meeting of the Kazakh-British Business Council took place in London on December 11, the official website of the Prime Minister of Kazakhstan reported. The delegation of Kazakhstan was headed by the Minister for Investments and Development, Zhenis Kassymbek. Minister Kassymbek in his welcoming speech expressed his gratitude to the UK Government and Kazakhstan’s sovereign wealth fund Samruk-Kazyna for organizing and hosting the Kazakh-British Business Council, which helps bring together the business circles of the two countries. He noted that in 2017, Kazakh-British cooperation shows positive dynamics: for the first 9 months of the year, the export from Kazakhstan to Great Britain grew by 8.2% and amounted to $720 million. Great Britain is one of the six largest investors in Kazakhstan. Over the past 12 years, the inflow of direct investment into Kazakhstan has exceeded $12 billion. There are over 500 joint ventures with the participation of British capital in Kazakhstan. The main goal of the Kazakh-British Business Council meeting was to share the positive developments taking place in Kazakhstan's national companies with the international community, as well as to familiarise British companies with the investment opportunities in Kazakhstan, Samruk-Kazyna said. "Through this event and a number of upcoming bilateral meetings that we intend to organise, we aim to strengthen economic relations between the UK and Kazakhstan and attract more British investment in our country," said Baljeet Kaur Grewal, Managing Director for Strategy and Portfolio Management of Samruk-Kazyna. Emma Nicholson, Baroness Nicholson of Winterbourne, Trade Representative of the Prime Minister of the United Kingdom in Kazakhstan, added: “British financial services and legal advisers are working hard to boost the development of the Astana International Financial Centre, and will continue to do so. London remains the financial centre of Europe, and is willing to work with Kazakhstan to implement its ambitious privatisation programme, which has proved successful so far.” Erlan Idrissov, Ambassador of Kazakhstan to Great Britain, noted: “The very fact that this economic event is taking place reflects the strength of the bilateral relationship between our two countries. I am very proud that at the end of the year in which we celebrated the 25th anniversary of relations between the UK and Kazakhstan, we are enjoying this busy day full of economic dialogue.”

Finance Investments Kazakhstan Astana United Kingdom

Investment opportunities of Kazakhstan and AIFC presented in London

ASTANA (TCA) — Investment opportunities of Kazakhstan and Astana International Financial Center (AIFC) were presented on November 9 to government and private business officials of Great Britain during the Kazakh-British Investment Forum in London City, the official website of the Prime Minister of Kazakhstan reported. The event was organized by London City Corporation, AIFC and National Company Kazakh Invest, and supported by Kazakhstan’s Embassy in the UK. During the Forum, welcome speeches were delivered by Ambassador of Kazakhstan to the UK Yerlan Idrissov, Ambassador of Great Britain to Kazakhstan Caroline Brown, AIFC Governor Kairat Kelimbetov, and Deputy Chairman of the Board of Kazakh Invest Birzhan Kaneshev, as well as London City Lord Mayor Andrew Parmly and Trade Envoy of the UK Prime Minister to Kazakhstan, Baroness Emma Nicholson. Yerlan Idrissov noted in his speech that for 25-year history of cooperation, the status of relationships between Kazakhstan and Great Britain reached the level of strategic partnership. "Based on strong and trusting relations, our countries actively cooperate in the implementation of such priority projects as creation and development of AIFC, the program of privatization of Kazakhstan’s national companies, interaction within the framework of the Chinese initiative One Belt, One Road," the Kazakh ambassador to Great Britain said. Ambassador of Great Britain to Kazakhstan Caroline Brown said that “International confidence is a key to success of Astana International Financial Center. The more investors from Great Britain and other countries and a variety of economic sectors consider the investment opportunities in Kazakhstan, the more will be the role of AIFC in providing financial and juridical services that investors will need.” Kairat Kelimbetov, the Governor of AIFC, mentioned during his speech that the platform being built provides for numerous privileges for investors and those advantages should be supportive in creating comfortable conditions of investment inflow to Kazakhstan. “AIFC is well placed to become a Eurasian gate providing trade and financial flows between East and West countries,” Kelimbetov said. Deputy Chairman of Kazakh Invest Birzhan Kaneshev said that “The total direct investments volume from the UK to Kazakh economy exceeds $12 billion. According to the National Investment Strategy of Kazakhstan, Great Britain is one of the high-priority countries in the context of investment attraction, which makes collaboration between our countries even stronger.”