For Press

04/04/2017

The representatives of Lugano Commodity Trading Association (hereinafter – LCTA) visited Astana upon the invitation of the Astana International Financial Centre (AIFC).

During the visit, General Secretary of LCTA Marco Passalia had a meeting with the Governor of the AIFC Kairat Kelimbetov. The delegation from Switzerland also conducted seminars with LCTA experts for the AIFC employees and representatives of other financial organisations of Kazakhstan on "Swiss banking system" and "Global Welfare" topics.

The parties discussed cooperation in the following sectors: commodity trade finance, asset management, private banking, as well as in training related to these topics.

As a result of the meeting, the Memorandum of Understanding and Cooperation between the AIFC and LCTA was signed. HE Urs Schmid, the Ambassador of Switzerland to Kazakhstan and Tajikistan participated in the ceremony of signing the Memorandum.

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, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.

 

Lugano Commodity Trading Association (LSTA) is a non-profit organization located in Lugano. The Executive Board is composed of 11 members from different fields related to the commodity trading sector.

This association’s main objectives are: reinforcing the sector in the Swiss-Italian area of Europe, training its member’s employees and new career starters, developing services and focusing on know-how related to the trading, shipping and financing of these activities.