The City of London has played a significant role in the AIFC’s formation and development since its establishment was announced in 2015
The City of London considers Kazakhstan as an important strategic partner in the implementation of green economy agreements reached during the UN Climate Change Summit (COP26) in November 2021 in Glasgow. Lord Mayor of the City of London Vincent Keaveny confirmed this during his meeting with the Ambassador of Kazakhstan to the UK Erlan Idrissov.
During the talks at Lord Mayor’s historic residence in Mansion House, located in the financial centre of the British capital, Ambassador Idrissov briefed the head of the City of London Corporation about Kazakhstan’s new economic course and the implementation of a large-scale reforms programme aimed at building a New Kazakhstan.
The sides discussed the dynamic development of bilateral trade and economic ties, the significant role of the City in the development of financial services markets, innovation, and technology in Kazakhstan. The meeting also noted the long-term fruitful cooperation between Kazakhstani organisations and the City’s leading financial institutions, including TheCityUK and the London Stock Exchange.
In addition, the sides stressed the importance of continuing the joint work on strengthening the Astana International Financial Centre (AIFC), which operates on the principles and norms of English common law and has turned into an important platform for attracting foreign investment. The City of London has played a significant role in the AIFC’s formation and development since its establishment was announced in 2015.
The Ambassador spoke about the measures taken by the Government of Kazakhstan to improve the country’s investment attractiveness with a focus on strengthening human capital and introducing environmental, social and corporate governance standards into the economy and investment policy. Ambassador Idrissov noted that despite the January tragedy, Kazakhstan remains attractive to investors and is striving for consistent positive changes to create a favourable business climate in accordance with the best standards and international practice.
The Kazakh diplomat confirmed the country’s readiness to deepen cooperation with the City in various sectors in order to further expand the Kazakh-British economic partnership.
The Kazakh Ambassador also invited the Lord Mayor of the City to take part in the Astana Finance Days annual international conference, which is scheduled for 28-30 June. Visits to Kazakhstan have become a good tradition for the heads of the City of London. The following Lord Mayors previously visited Kazakhstan: Sir Michael Savory (2005), Sir David Brewer (2006), Sir John Stuttard (2007), Ian Luder (2009), Sir David Wootton (2012), Dame Fiona Woolf (2014) and Sir Andrew Parmley (2017).
Kazakhstan was also represented twice at one of the oldest traditional festivals – the Lord Mayor’s Show – in 2006 and in 2019, surprising London guests and residents with a vibrant folk programme.
