The AIFC Authority and QazTrade have agreed to cooperate in the field of e-commerce

On August 26, a meeting of representatives of the Astana International Financial Centre (hereinafter – the AIFC), represented by the Governor Kairat Kelimbetov, and the Ministry of Trade and Integration of the Republic of Kazakhstan, represented by Minister Bakhyt Sultanov, took place at the AIFC.

During the meeting, the activities of AIFC and QazTrade were presented, and an agreement was reached on cooperation between Astana International Financial Centre Authority (hereinafter – AIFCA) and QazTrade in the field of e-commerce and non-cash economy in Kazakhstan. The document was signed by Yernur Rysmagambetov, Chairman of the AIFCA Management Board, and Azamat Askaruly, General Director of QazTrade.

One of the important areas will be cooperation on the development of cross-border trade. The Parties intend to cooperate in the field of trade and economic development in the territories of the International Centre for Cross-Border Cooperation “Khorgos”, the International Centre for Trade and Economic Cooperation “Central Asia” and other trade zones.

In addition, AIFCA will provide consulting and technical assistance to QazTrade with the implementation of the digital development project of the export portal (export.gov.kz), as well as other digital QazTrade projects. QazTrade will provide all the necessary consulting and analytical support in terms of bringing products and residents of the AIFC Tech Hub Acceleration Program to international electronic platforms.

Yernur Rysmagambetov noted: “At the moment, work is underway to develop regulatory regulation of the e-commerce market based on English law, considering the best world practices. We hope that this will allow attracting international players to the market of Kazakhstan and Central Asia”.

Azamat Askaruly said: “We agreed to jointly work on recommendations for improving infrastructure and trade procedures at the cross-border trade and logistics hubs «Khorgos», ICTEC «Central Asia» and others. This is very important, considering the course of Kazakhstan on the creation of border industrial complexes. Many investors, including foreign ones, will be attracted by the opportunity to work in such hubs precisely on the terms of the AIFC”.

 

Reference information:

Astana International Financial Centre was created on the initiative of the First President of the Republic of Kazakhstan – Elbasy Nursultan Nazarbayev as part of the National Plan “100 steps to implement five institutional reforms”. On July 2, 2020, as part of the meeting of AIFC Management Council, the Center’s Development Strategy until 2025 was adopted. According to meeting, the vision of AIFC is to become a leading international financial center in the region, including Central Asia, the Caucasus, the EAEU countries, Western China, Mongolia, and Eastern Europe. The mission of AIFC is to promote the sustainable long-term development of the region. As the President of the Republic of Kazakhstan noted, K.Tokayev, “AIFC with its unique capabilities can act as a universal platform connecting the countries of the region”. The strategic directions of the AIFC’s sustainable development include the development of a closed-cycle economy, financial technologies and a “digital financial center”. https://aifc.kz/

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