PAUL BRUMMELL UK Ambassador to Kazakhstan

"It’s not a straightforward country, but opportunities here are considerable"

Paul Brummell, Her Majesty’s ambassador to Kazakhstan, is bullish on Kazakhstan’s potential for UK companies.

“Kazakhstan is very much the embodiment of Eurasia,” he says. “It is a country which straddles two continents, which looks in both Asian and European directions simultaneously. Its economic development has been remarkable and it is a country which is open and interested in listening to ideas from the UK and around the world, and willing to do business with us.”

At 41, Mr Brummell is young for an ambassador – especially one in his second posting – but he brings a wealth of knowledge and experience.

What do you see as the biggest contributing factors for Kazakhstan’s remarkable growth?

Kazakhstan had some big advantages such as huge mineral resources wealth and oil and gas reserves. Beyond that, I think President Nazarbayev recognised at quite an early stage the importance of bringing in foreign investments, and of education and training, including scholarships.

In what sectors are UK companies the strongest?

Traditionally, the UK has been strongest in oil and gas. There are more than a hundred companies from the UK actively doing business in this sector. We are also putting much effort into financial services. Air Astana, the national carrier, a joint venture with BAE Systems, is developing into a strong regional airline. British companies are working in gold mining. Lord Foster has also created some striking buildings in Astana.

Why is the London Stock Exchange so attractive for Kazakhstani companies?

It is underpinned by a strong and sound legal base. It has a huge range of experience in dealing with the CIS, and understanding of Kazakhstan. Success builds on success.

How would you assess the overall financial ties between the UK and Kazazkhstan?

Good, and developing. A number of British companies in the financial services sector have offices in Kazakhstan. Banks like HSBC, as well as major law and accountancy firms. I think the numbers will grow.

How are the British government and companies helping the Kazakhs diversify their economy?

A key part of my job is to support UK companies in Kazakhstan. The kind of relationship Kazakhstan wants is not about foreign companies looking for quick sales, but about longer-term partnerships in which the British partner helps to transfer knowledge to help Kazakhstan develop.

British companies want an understandable, stable and predictable investment environment. Areas where concerns remain are the straightforwardness of bureaucracy and corruption. Foreign investment is becoming more challenging as Kazakhstan becomes wealthier and more self confident. It’s certainly not a straightforward country for foreign investors, but there are considerable opportunities here.