BAKU, Azerbaijan, October 5. The bilateral trading relationship of the UK and Kazakhstan is going from strength to strength and has huge potential for businesses in both our countries, Kenan Poleo, UK's Consul General and Trade Commissioner for Eastern Europe and Central Asia, told Trend.
"Total trade in goods and services between our countries was 2.1 billion British pounds in the four quarters to the end of first quarter of 2023, an increase of 5.8 percent the year before. However, the important thing for me is not the current trade volume, but the direction," he said.
According to Poleo, both Kazakhstan and the UK have committed to boosting collaboration, and improving economic links.
"I am confident that we will see more and more businesses signing deals and working together over the coming years for the benefit of both our countries," he added.
The UK is one of Kazakhstan’s key trade and economic partners, having invested more than $16 billion in the country's economy.
Bilateral trade turnover in 2022 amounted to $1.8 billion, an increase of 58.7 percent compared to 2021.
At the moment, about 550 companies, joint ventures and representative offices with the participation of British capital are registered in Kazakhstan, covering almost all sectors of the domestic economy.