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27.07.2017
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Lord Mayor leads City delegation to Kazakhstan

10.07.2017

The Lord Mayor of the City of London, Dr Andrew Parmley, arrived in Kazakhstan on 8 July as the head of a business delegation from the City of London. The aim of the visit is strengthening the commercial ties between the UK and Kazakhstan and promote Britain as one of the best places in which to invest and conduct.

During his three day visit to Astana, joined by banks, lawyers and consultants, the Lord Mayor will tour the Astana Expo, meet Prime Minister Sagintayev, the Astana International Financial Centre Governor, Samruk Kazyna (the Sovereign Wealth Fund), the Chairmen of  Kazakh Invest and Baiterek Holding and the Minister of Finance. He will also host roundtables with UK businesses based in Kazakhstan and give speeches on Islamic Finance.

Speaking ahead of his visit to Kazakhstan, Lord Mayor Andrew Parmley said:

“Kazakhstan is an incredibly important market for UK plc and I am delighted to be bringing along such a strong business delegation with me. The UK is one of the top five investors in Kazakhstan and since independence in 1991 our investment totals more than £20bn.

“However, there are a number of financial services areas where I think there is potential for closer economic collaboration – Islamic Finance, Green Finance and the growth of FinTech being just a few. The City is also looking at ways in which we can support Astana become a major international financial hub, while also looking for infrastructure financing opportunities that relate to the Belt and Road initiative.

“During my meetings I will be reassuring investors that the post-Brexit climate in the UK is still resilient, open for business and offers an enormous amount of potential. London still remains the number one global financial centre and we will continue to provide a wide array of finance raising options for ambitious Kazakh firms, particularly as they diversify their economy away from a reliance on oil and gas. “

International Trade Minister and Minister for London Greg Hands said:

“The UK pavilion at the Astana Expo is showcasing the best of London and the UK’s world-leading creativity and innovation, from education to energy. The government has helped UK companies secure over £6 billion in contracts in Kazakhstan since 2011/12, and I look forward to following the Lord Mayor there soon to build further opportunities.”

The City of London will look to shares its expertise in the race to cut carbon through the Green Finance Initiative. The visit will also seek to promote London as a potential hub for Belt and Road.

Source: http://news.cityoflondon.gov.uk

Photo credit: http://www.citymatters.london