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Friday, 28 August 2009

Friday Guest Blog: Doing business in... Kazakhstan

Artur Krivov, Managing Director of the Kazakh-British Chamber of Commerce, explains the business opportunities available in Kazakhstan.

Kazakhstan offers great opportunities for British companies. It is one of the largest and fastest growing economies in Central Asia. It has the ninth largest oil reserves in the world, the second largest uranium, chromium, lead and zinc reserves and ranks in the top ten for coal, iron and gold.

However, Kazakhstan also offers a wealth of opportunities for SMEs in many other areas, from education and telecommunications to transport and tourism.

Since the establishment of diplomatic relations in 1992, the Republic of Kazakhstan and the UK have developed ever-stronger economic ties with the growth of two-way trade and investment flows.

The Kazakh-British Chamber of Commerce (KBCC) is bringing together the entrepreneurial spirit and energy of the UK’s and Kazakhstan’s leading businesses as it strives to drive Kazakh-British business forward.

The Chamber was officially launched in June in the presence of the Ambassador of Kazakhstan to the UK, His Excellency Mr Kairat Abusseitov, entrepreneurs and business people from Kazakhstan and the UK and industry associations from both countries. The launch took place at the Marriott Grosvenor Square Hotel during The Fourth Annual International Kazakhstan Growth Forum.

The aim in forming this new Chamber is to create an environment through which individual businessmen, corporations and small to medium size companies with business interests in Kazakhstan and the UK, or those which are looking to enter those markets, can network and benefit from the collective power of the members as well as tap into the considerable resources that KBCC can provide.

The Kazakh-British Chamber of Commerce is a non-profit making organisation supported by the Embassy of the Republic of Kazakhstan in London, the Ministry of Industry and Trade of the Republic of Kazakhstan, UK Trade and Investment (UKTI) and the British Chambers of Commerce.

By promoting Kazakhstan to UK businesses, introducing UK businesses to Kazakh markets and fostering an environment in which members can network, companies and organisations from both countries will benefit from the increasing number of business opportunities they attract.

KBCC is designed to provide members with a dynamic structure to ensure that member companies and organisations have all the necessary tools they need ‘at their fingertips’.

Members will have access to database information on goods and services, with statistics on specific market sectors, and up to date information on the current state of the markets in both the UK and Kazakhstan. An ongoing programme of Events will be organised for member companies, and a prominent feature of KBCC membership is the Chamber’s ability to lobby effectively on a variety of major issues, including trade, finance, export credit and taxation.

For more information on the Kazakh-British Chamber of Commerce go to www.kbcc.org.uk

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