7th Kazakhstan-British Forum: business formats vary

By Zulfiya Iskalieva

The 7th Kazakhstan-British Forum on cooperation in the sphere of material-technical support to oil and gas sector was held in Atyrau last week.

From Kazakhstan side there were 40 companies participating in the Forum. The business delegation of Great Britain, headed by Charles Hendri, the UK Prime Minister's Trade Envoy to Kazakhstan and Central Asia, included representatives of 42 companies. Following the results of the forum two cooperation agreements have been signed between British and Kazakhstan companies.

- The turnover of 23 Kazakhstan-British partnership makes 150 million dollars. Now there are negotiations about establishment of another 62 partnerships, out of them 35 partnerships will be created in small and medium businesses, - said Kairat Bekturgenev, the chairman of National agency for development of local content. – Our predictions for the year 2020 are that turnover of newly established partnerships can make 2,5 billion dollars and will create 20 thousand workplaces.

The majority of Kazakhstan-British partnerships are working in Atyrau Oblast. Their business formats vary: joint ventures, franchising, long-term cooperation agreements.