Serik Zhumangarin met with the Trade Envoy of the Prime Minister of Great Britain

Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin met with the British Prime Minister's Trade Envoy to Azerbaijan, Iraq, Kazakhstan and Turkmenistan, Baroness Nicholson Winterbourne.

At the meeting, the sides 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. A vivid proof of this is 30 years of fruitful and effective diplomatic relations.

«Over the many years of interaction, our cooperation has only strengthened, close and trusting relations have been established. We have created effective mechanisms of bilateral partnership, including a Strategic dialogue at the level of foreign ministers, an Intergovernmental Commission on Trade and Economic Cooperation, an All-Party Parliamentary Group on Kazakhstan in the UK Parliament, as well as a Business Council», — S. Zhumangarin stressed.

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 among the TOP 10 investors in Kazakhstan. Since 2005, about $16.4 billion of direct investments from the UK have been attracted to Kazakhstan.

«We are ready to offer British companies favorable conditions and appropriate infrastructure when making decisions about investing in Kazakhstan. The Government of Kazakhstan is determined to deepen and strengthen mutually beneficial cooperation with the UK in all areas», — Serik Zhumangarin said.

For her part, Baroness Nicholson also noted the high level of trade partnership between the two countries, stressing 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 increased by 71.1% and amounted to $1.5 billion (from $855.1 to $1462.9 million mainly due to increased supplies of oil, copper and cathodes from copper, raw aluminum, ferroalloys, ethyl alcohol, petroleum products, etc.).There is an increase in imports by 24.4%, which exceeded $380 million.