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Kazakhstan, UK sign agreements worth $3.8B

Kazakhstan, UK sign agreements worth $3.8B

Date: 12 November 2015 16:57

Baku, Azerbaijan, Nov. 12

By Elena Kosolapova – Trend:

As many as 24 documents on agreements worth a total of $3.8 billion were signed during the visit of Kazakh President Nursultan Nazarbayev to the United Kingdom, the Ministry of Investment and Development of Kazakhstan said.

The parties have agreed on cooperation in the oil and gas industry, geology and subsoil use, energy, environmental protection, education, space activities, innovation, and the financial sector. They also reached an agreement on investment cooperation and cooperation in the improvement of civil services and civil aviation.

As part of the agreements, Kazakhstan plans to intensify cooperation in the oil and gas industry with PSA, Independent Power Corporation, William Hare Limited, and WORLEY PARSONS Ltd. In the field of geology and subsoil use, it will cooperate with Rio Tinto and the International Committee of CRIRSCO and, in the pharmaceutical industry, with Hikma Pharmaceuticals PLC.

In addition, documents were signed on joint cooperation for the creation and development of an international financial center, Astana, as well as a memorandum of understanding to establish requirements related to the investment staff. The memoranda are aimed at attracting major investors from around the world.

The United Kingdom is among the top 10 investors in Kazakhstan. From 2005 to the first quarter of 2015, the United Kingdom has invested US$11.5 billion, while the volume of Kazakh investments in the United Kingdom for the same period amounted to $5.5 billion.

More than 500 enterprises using British capital successfully operate in Kazakhstan.

They include representatives of large companies such as British Gas, Shell, AMEC, Invensys, BAE Systems, Rio Tinto Mining, Metaco LLP, SUN Group, and United Chemicals Management LLP.

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Tags:  Kazakhstan UK sign agreements worth 38B


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