Lord Mayor leads City delegation to Kazakhstan
The Lord Mayor of the City of London, Dr Andrew Parmley, will arrive in Kazakhstan on 8 July (Saturday) as the head of a business delegation from the City of London. The Lord Mayor will look to strengthen the commercial ties between the UK and Kazakhstan and promote Britain as one of the best places in which to invest and conduct.
During his three day visit to Astana, joined by banks, lawyers and consultants, the Lord Mayor will tour the Astana Expo, meet Prime Minister Sagintayev, the Astana International Financial Centre Governor, Samruk Kazyna (the Sovereign Wealth Fund), the Chairmen of Kazakh Invest and Baiterek Holding and the Minister of Finance. He will also host roundtables with UK businesses based in Kazakhstan and give speeches on Islamic Finance.
Speaking ahead of his visit to Kazakhstan, Lord Mayor Andrew Parmley said:
“Kazakhstan is an incredibly important market for UK plc and I am delighted to be bringing along such a strong business delegation with me. The UK is one of the top five investors in Kazakhstan and since independence in 1991 our investment totals more than £20bn.
“However, there are a number of financial services areas where I think there is potential for closer economic collaboration – Islamic Finance, Green Finance and the growth of FinTech being just a few. The City is also looking at ways in which we can support Astana become a major international financial hub, while also looking for infrastructure financing opportunities that relate to the Belt and Road initiative.
“During my meetings I will be reassuring investors that the post-Brexit climate in the UK is still resilient, open for business and offers an enormous amount of potential. London still remains the number one global financial centre and we will continue to provide a wide array of finance raising options for ambitious Kazakh firms, particularly as they diversify their economy away from a reliance on oil and gas. “
International Trade Minister and Minister for London Greg Hands said:
“The UK pavilion at the Astana Expo is showcasing the best of London and the UK’s world-leading creativity and innovation, from education to energy. The government has helped UK companies secure over £6 billion in contracts in Kazakhstan since 2011/12, and I look forward to following the Lord Mayor there soon to build further opportunities.”
The City of London will look to shares its expertise in the race to cut carbon through the Green Finance Initiative. The visit will also seek to promote London as a potential hub for Belt and Road.
NOTES TO EDITORS
- About the Lord Mayor of the City of London
- The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role; the Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year).
- The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister.
- On average, the Lord Mayor will meet one head of state a month and will meet a prime minister or finance minister each week to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor, who is unpaid, lives in the Mansion House for the Mayoral year.
- More information on the Lord Mayor can be found here.