Kazakhstan and Cyprus Strengthen Business Cooperation

On June 3, within the framework of the official visit of the President of the Republic of Cyprus, Nikos Christodoulides, to Astana, the Kazakhstan-Cyprus Business Forum was held with the participation of the Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov. The event brought together representatives of government agencies, business associations, and companies from both countries. The Chairman of the Presidium of the National Chamber of Entrepreneurs of Kazakhstan "Atameken", Kanat Sharlapayev, also took part in the forum.

One of the key outcomes of the forum was the signing of a Cooperation Agreement between the Cyprus Chamber of Commerce and Industry and the Chamber of International Commerce of Kazakhstan. The document lays the foundation for the establishment of the Kazakhstan-Cyprus Business Council and the creation of an effective platform for cooperation between the business communities of the two countries.

Speaking at the forum, Chairman of the Board of the Chamber of International Commerce of Kazakhstan Murat Karimsakov noted that Kazakhstan and Cyprus possess significant potential for expanding trade, economic, and investment cooperation. According to him, over the past twenty years, the gross inflow of foreign direct investment from Cyprus to Kazakhstan has reached USD 5.4 billion, while approximately 350 companies with Cypriot participation are successfully operating in Kazakhstan today.

"Today, Kazakhstan is undergoing a profound digital transformation of its economy and is creating the most favorable conditions for foreign investment. Cyprus is an important partner of Kazakhstan within the European Union, possessing unique expertise in fintech, consulting, and asset management," said Murat Karimsakov.

Special attention during the forum was devoted to investment cooperation, digitalization, financial technologies, and the development of joint export-oriented projects. Participants discussed opportunities for expanding business ties between companies from both countries, as well as mechanisms for supporting investors and entrepreneurs.

As part of the business program, presentations by Cypriot companies and B2B meetings were held to establish new partnerships and explore promising areas of cooperation.

The National Chamber of Entrepreneurs and the Chamber of International Commerce of Kazakhstan will continue their efforts to promote international business cooperation and create favorable conditions for the implementation of joint initiatives involving Kazakhstani and foreign businesses.