Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin met with Baroness Nicholson of Winterbourne, the British Prime Minister's Trade Envoy to Azerbaijan, Iraq, Kazakhstan, and Turkmenistan, QazMonitor reports.
The parties discussed bilateral trade between Kazakhstan and the United Kingdom, especially given the current geopolitical situation. Serik Zhumangarin said that the United Kingdom is one of the top 10 investors in Kazakhstan. Since 2005, Kazakhstan has attracted about $16.4 billion in direct investment.
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% to $1.5 billion (from $855.1 to $1462.9 million, mainly due to increased supplies of oil, copper and copper cathodes, unprocessed aluminum, ferroalloys, ethyl alcohol, oil products, etc.). Imports grew by 24.4%, exceeding $380 million.
"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 Great Britain in all directions," said Serik Zhumangarin.
For her part, Baroness Nicholson also noted the high level of trade partnerships between the two countries, stressing a willingness to further strengthen mutually beneficial cooperation.