The UK has left the European Union

NUR-SULTAN, February 1, 2020 - On January 31, the United Kingdomleft the European Union. Since February 1, 2020, the UK has entered a transition period that is due to last until December 31, 2020. During the transition period, the United Kingdom will continue to fulfill all the commitments and agreements adopted within the EU. 

The UK is one of the main trade partners of Kazakhstan and sixth in terms of investment in our economy. Turnover for the first nine months of 2019 amounted to $749.9 million. Over the past 14 years, direct investment from the UK has exceeded $13 billion.

It should be noted that in 2015, Kazakhstan signed the Enhanced Partnership and Cooperation Agreement (EPCA) with the European Union, which enters into force on March 1, 2020 and establishes a necessary basis for enhancing cooperation in trade, economy and investment. Given the transition period, the EPCA will remain in force for the UK until the end of 2020.

Currently, Kazakhstan is holding negotiations with the UK on a bilateral strategic partnership and cooperation agreement, to be concluded this year. The agreement will cover a wide range of Kazakh-British engagement.