Britain, Kazakhstan sign 14 documents worth $1 billion

Kazakhstan, Astana, July 1 / Trend D.Mukhtarov / Fourteen agreements and memorandums to the sum of $1 billion were signed during the visit of British Prime Minister David Cameron to Astana on Monday, the Ministry of Industry and New Technologies of Kazakhstan said. In particular, according to the information, the Ministry of Industry and New Technologies signed two memoranda with the SUN Gold Company on cooperation in the construction of mining and processing complex at the Yubileynoye field in the Aktobe region and with Rio Tinto on the establishment of the Centre of Geological Research in Kazakhstan. The memorandum on the establishment of assembling production of drilling rigs in Kazakhstan was signed by British Dando Drilling International, Kaznex Inest and Kazgeologiya JSC. "Among the bilateral documents are also the licence agreement to participate in the design and development of the Weightless wireless data transmission signed between Kazakhtelecom JSC and the Weightless Contracting Company and the agreement to establish a joint venture between KazTurboRemont LLP and the Wood Group, the report says. The British delegation headed by Cameron included representatives from more than 30 companies operating in such industries as mining and metallurgy, oil and gas and mechanical engineering as well as the financial sector, architecture and construction, aerospace industry and education. According to the National Bank, between1993-2012, the gross amount of direct investment from the UK to Kazakhstan amounted to $11.7 billion. In 1993-2012, the gross volume of direct investments from Kazakhstan to the UK amounted to $3.6 billion. According to customs statistics, the trade turnover between Kazakhstan and the United Kingdom in 2012 amounted to $2.3 billion (exports $1.7 billion, imports $0.6 billion). The main items of Kazakhstan's exports are metals and metal products, mineral products, machinery and equipment. In turn, the UK ships to Kazakhstan animal products, machinery, equipment, vehicles and chemical products. Do you have any feedback? Contact our journalist at agency@trend.az