For Press

28/06/2017

Astana International Financial Centre will actively cooperate with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Today the top managers of the Astana International Financial Centre (AIFC) met with the members of the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP).

ESCAP has extensive experience in analysing economic and social trends. The organization actively participates in the development of the innovation environment in the countries of the region.

Recently, the AIFC’s representatives have become members of the working groups of the ESCAP network of business contacts on the digital economy and green business. For the first time the meetings of the working groups are held in Kazakhstan with the support of the AIFC.

The development of new financial technologies, as well as support for sustainable development and, in particular, for the green economy, are among the priority activities of the AIFC.

The AIFC and ESCAP are planning to continue close cooperation in such areas as "green" business, digital economy and finance.

Within the framework of the meeting, representatives of the AIFC and ESCAP discussed issues on supporting small and medium-sized innovative businesses, as well as launching a number of ESCAP projects in the region, in particular, on the AIFC platform.

Reference:

AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in the post-Soviet region, Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.

The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, ensuring their integration with the international capital markets, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan. 

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), established in 1947, deals with the economic and social problems of the region. There are three training and research institutions dealing with agricultural development, statistics and technology transfer under its auspices. Among the new priority issues is the promotion of interregional trade and investment, technology transfer, privatization and entrepreneurship, urbanization.