Kazakh-Finnish Business Forum: a new stage of economic cooperation

Kazakhstan–Finland Business Forum Held in Astana with Participation of Presidents Kassym-Jomart Tokayev and Alexander Stubb

On October 28, 2025, Astana hosted the Kazakhstan–Finland Business Forum with the participation of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev and the President of the Republic of Finland Alexander Stubb. The event became the central highlight of the Finnish delegation’s visit and served as a key platform for discussing prospects of trade, economic, and investment cooperation between the two countries.

The business program brought together representatives of government agencies and business associations, including Jaana Rekolainen, Director General of EastCham Finland; Sanzhar Zharkeshov, Vice Minister of Energy of the Republic of Kazakhstan; Olli Pohjanvirta, CEO of Nurminen Logistics and Honorary Consul of Kazakhstan in Finland; Rakhymzhan Isakulov, Vice Minister of Industry and Construction; Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan; Altyn Shakirhanova, Head of the EastCham branch in Finland; and Murat Karimsakov, Chairman of the Board of the Chamber of International Commerce of Kazakhstan (KazCIC).

A key part of President Stubb’s visit was the signing ceremony of the Memorandum of Understanding between the Chamber of International Commerce of Kazakhstan and the Confederation of Finnish Industries (EK). The document was signed at Akorda in the presence of both Presidents and aims to strengthen business cooperation, promote industrial partnerships, and facilitate the exchange of experience between Kazakhstan and Finland.

Currently, around 70 companies with Finnish capital are operating in Kazakhstan, representing key sectors such as mechanical engineering, telecommunications, environmental technologies, and pharmaceuticals. Among them, Metso, a leading technology company, makes a significant contribution to the development of Kazakhstan’s mining and processing industries. Kone, one of the world leaders in elevator and escalator manufacturing, is actively involved in modernizing urban infrastructure in Kazakhstan.

Several Finnish companies are successfully implementing joint projects in Kazakhstan. For example, Peikko is participating in the construction of the BI ART Center for the Arts in Astana, applying innovative engineering solutions under its Deltabeam brand. Econet cooperates with KazCenter ZhKH JSC to introduce advanced wastewater treatment technologies that improve environmental sustainability. In April of last year, Kazakhstan’s QazBioPharm presented an ongoing project with Finland’s Orion Corporation to produce pharmaceutical products, while representatives of BI Group are considering the construction of schools based on the Finnish education model.

During the forum, the parties discussed prospects for joint work in priority sectors, including mechanical engineering, green energy, logistics, digital technologies, and education. The Kazakh side expressed readiness to facilitate the establishment of joint ventures and localization of Finnish production in Kazakhstan, offering stable conditions and comprehensive government support measures. The Finnish side confirmed its strong interest in expanding its presence in the Kazakh market and implementing joint projects aimed at improving production efficiency, fostering innovation, and developing sustainable infrastructure.

The forum concluded with a series of B2B meetings between Kazakh and Finnish companies, during which participants expressed their readiness to take practical steps toward strengthening partnerships, launching investment initiatives, and deepening industrial cooperation.