For Press

27/10/2017

Astana International financial centre and Hangzhou Electronic Commerce Industry Park have negotiated the development of electronic commerce in the Republic of Kazakhstan

Astana International Financial Centre and Hangzhou Electronic Commerce Industry Park signed a Letter of Intent and agreed to explore the possibility of creating a joint park for the development of the e-commerce industry in the territory of the AIFC.

In order to implement the Cooperation Plan on the new economic policy "Nurly Zhol" with the "One Belt – One Road" initiative between the Governments of Republic of Kazakhstan and People Republic of China, the Parties aim to have a long-term strategic cooperation, which implies the development of the e-commerce industry in Kazakhstan, the entry of Chinese e-commerce companies to the Central Asian market, the development of financial technology, one of the AIFC's key areas.

According to the document, the Hangzhou Electronic Commerce Industry Park is ready to share its technical experience and resources with the Astana International financial centre for the construction and operation of the e-commerce park in Kazakhstan.

The parties also agreed to exchange information on research in the field of electronic commerce, organize and conduct joint educational and training programs, including conferences and seminars.

Cooperation between the AIFC and the Technopark plays an important role in creating a regional e-commerce hub within the framework of the Astana International financial center.

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AIFC. In December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Center (AIFC). The purpose of the AIFC is to form a leading center of financial services of an international level. For the first time in the post-Soviet space, the principles of English law will be introduced: the official language of the financial center will be English.

                                                                                                                                             

AIFC's tasks are to assist in attracting investments in the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. AIFC also intends to develop in the country the market of insurance, banking services and the market of Islamic financing.

Hangzhou Electronic Commerce Industry Park is the first e-commerce industry park in China. It was established in 2009. It is part of the Hangzhou e-commerce zone and is developing according to the "One belt, three parks" model - 1) Eastern E-Commerce Park; 2) Hangzhou Electronic Commerce Industry Park; 3) China (Hangzhou) Cross-Border E-Commerce Park. Currently, the territory of the Park employs more than 80 enterprises engaged in the supply of information services, software, mobile Internet and other areas of industrial electronic commerce.