Atyrau to host Kazak-British business forum

Atyrau will host a Kazakh-British Business Forum which will discuss cooperation between companies of the two countries in the oil and gas sector of Kazakhstan, bnews.kz reports, citing the press service of the Chamber of Commerce and Industry (CCI) of Kazakhstan.

"The event is planned to include bilateral meetings and talks on potential cooperation between the companies of Kazakhstan and the UK in the oil and gas logistics sector," reads the CCI statement.

It is also expected to hold bilateral meetings and presentations. This event will allow Kazakh companies to discuss with British colleagues the supply and installation of various equipment and metal products, as well as the issue of necessary service in the oil and gas sector.

Speakers at the forum included: Deputy Head of Mission, British Embassy to Kazakhstan, Greg Quinn, Shell Kazakhstan board chairman Campbell Keir and Chairman of the National Agency for the development of local content Kairat Bekturgenev.

According to the Kazakhstan customs authorities, in 2012 the trade turnover between Kazakhstan and the UK amounted to $2.3 billion which is 9.5 per cent higher than in 2011 ($2.1 billion). In January-April 2013, the figure was $610 million, 15.7 per cent more than the same period of 2012 ($527 million).

In recent years, the UK has been the third largest investor in Kazakhstan's economy after the Netherlands and the U.S. mainly in the oil and gas and mining sectors. According to the National Bank of Kazakhstan, from 1993 to 2012 the total amount of direct investment from the UK in Kazakhstan's economy amounted to $11.7 billion.