Kazakhstan and Cyprus Strengthen Economic Cooperation

Kazakhstan and Cyprus Strengthen Economic Cooperation

In Limassol, Cyprus, with the aim of expanding dialogue and further strengthening bilateral relations, the Embassy of Kazakhstan in Cyprus, together with the Cyprus Chamber of Commerce and Industry and "NC "KAZAKH INVEST" JSC organized the first Kazakhstan-Cyprus Business Forum. The event, held in a hybrid format, was attended by over 100 representatives from government agencies and the private sector.

During the business forum, presentations on investment opportunities in Kazakhstan were given. Speakers provided detailed descriptions of the prospects for expanding cooperation in key sectors of the economy, highlighting the high potential for further development of cooperation in areas such as agrochemistry (fertilizer production), metallurgy, ICT, finance, trade, tourism, and others. It is worth noting that over the past 10 years, direct investments from Cyprus in the Kazakhstani economy amounted to more than $4.4 billion.

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The event was opened by the President of the Cyprus Chamber of Commerce and Industry, Christodoulos Angastiniotis, the President of the Cyprus-Kazakhstan Business Association, Costas Markides, and the Ambassador of Kazakhstan to Cyprus, Satybaldy Burshakov.

Askhat Bekenov, the Director of the Project Department of "NC "KAZAKH INVEST" JSC delivered a speech via video communication, describing the activities of the national company, the preferences provided by the Government of the Republic of Kazakhstan, the prospective directions of investment cooperation, and invited Cypriot companies to implement projects in Kazakhstan.

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At the conclusion of the event, bilateral meetings were held between representatives of the business communities of both countries.

The Kazakhstan-Cyprus Business Forum has become an important event strengthening the ties between the two countries and opening up new opportunities for mutually beneficial cooperation. The forum identified promising directions for development and reached agreements on future partnerships, which contribute to further strengthening the economic and trade relations between Kazakhstan and Cyprus.

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