Kazakh Ambassador presented credentials to Grand Duke of Luxembourg

EMBOURG-BRUSSELS. October 30. KAZINFORM /Yerzhan Ospanov/ Kazakh Ambassador Extraordinary and Plenipotentiary Yerik Utembayev has presented credentials to Henri, Grand Duke of Luxembourg.

They exchanged opinions on results and prospects of bilateral interaction in different spheres.

The monarch of Luxembourg paid special attention to opportunities of cooperation expansion in the financial sphere. The Ambassador told about the activity of the Kazakh national funds created for stability and development, and joint funds with Russia, China and Tajikistan. In this connection the Duke proposed the assistance of the Luxembourg experts to the Kazakh financial structures, and said, that he intended to charge his Government to strengthen work on rapprochement of the financial centers of Luxembourg and Kazakhstan.

Location of such international institutions like the European Parliament's General Secretariat, Court of Justice of the European Communities, European Court of Auditors, European Investment Bank, European Investment Fund, Directorate-General for Credit and Investment, European Union statistics agency Eurostat, Nuclear Security Administration demonstrates importance of Luxembourg. Luxembourg holds sessions of the EU Council of Ministers three times a year (in April, June, and October). This country is an international financial-economic hub, where over 160 banking facilities, thousands large investment and hedge funds, leading world companies, holdings and about 100 insurance groups function.

Talking about trade-economic relations, Grand Duke Henri stood for active interaction with the Luxembourg Commerce and Trade Chamber, which executes the coordinating role in the sphere of tuning up and development of contacts between companies at the international level.

Y.Utembayev, in his turn, expressed gratitude the Luxembourg leadership for striving for building up of mutually beneficial partnership relations. He emphasized that Kazakh President Nursultan Nazarbayev's meeting with Prime Minister of Luxembourg Jean-Claude Juncker in Brussels in December, 2006 and the Luxembourg Prime Minister's visit to Kazakhstan in June, 2008 gave powerful impulse to bilateral relations.

The Head of the Kazakh diplomatic representation office, which is also accredited in the EU, Belgium and NATO, stood for active cooperation within the framework of the EU and relations development between Kazakhstan and the Belgium-Luxembourg Economic Union. In this context the Grand Duke welcomed an idea of the Kazakhstan-EU summit under active participation of Luxembourg and supported an initiative on elaboration of bilateral agreement on strategic partnership.

The Grand Duke of Luxembourg welcomed the Kazakh President's initiatives directed to strengthening the regional and international stability and security. The Grand Duke emphasized that Kazakhstan's position at the crossroads of Europe and Asia is an important aspect, which determines the stabilizing role of the state on the continent.

The Grand Duke invited Kazakhstan's leadership to visit Luxembourg with an official visit.

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