Kazakhstan and Cyprus: Discussing Opportunities for Bilateral Cooperation
A Kazakh-Cypriot business forum aimed at developing bilateral economic cooperation was held today in Astana. The event served as a key platform for discussing prospects for bilateral economic cooperation between Kazakhstan and Cyprus, as well as establishing business contacts between companies and government agencies of the two countries.
Welcoming remarks were delivered by Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan; Stavros Stavrou, President of the Cyprus Chamber of Commerce and Industry; Murat Karimsakov, Chairman of the Chamber of International Commerce of Kazakhstan; and Costas Markides, President of the Cyprus-Kazakhstan Business Association.
In his speech, Gabidulla Ospankulov emphasized that more than 400 companies with Cypriot capital operate in Kazakhstan. He also shared promising areas of bilateral cooperation, including energy and industrial sectors, agriculture, transport and logistics, pharmaceuticals and healthcare, digitalization and AI, financial services and investment.
It is worth noting that for the period from 2005 to 2025, the gross inflow of FDI from Cyprus amounted to $5.4 billion. Exports primarily include pharmaceuticals, textiles, computers, wooden mosaic and inlaid products, and others.
President of the Cyprus Chamber of Commerce and Industry Stavros Stavrou noted Kazakhstan's role as a key commercial and investment hub linking Europe and Asia.
The forum included a panel session titled "Investment Opportunities and the Business Ecosystem of Kazakhstan and Cyprus," featuring speakers including Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy of the Republic of Cyprus; Asel Suankulova, Managing Director of KAZAKH INVEST NC JSC; Ibrahim Canliel, Air Astana Chief Executive Officer; Ainur Amirbekova, Managing Director of Export Development at QazTrade JSC; Yulia Kusidi, CEO of EUROBAK; Baurzhan Kankin, Chief Client Officer and Member of the AIFC Management Board; and Nazgul Baitemirova, Managing Director of AstanaHub.
Asel Suankulova, Managing Director of KAZAKH INVEST NC JSC, highlighted the key advantages of Kazakhstan’s investment climate and outlined the comprehensive support measures available to foreign investors.
The event also featured a series of brief presentations by leading Cypriot companies operating in the banking and financial services, construction, legal advisory, fintech, and international logistics sectors, followed by a number of productive B2B and bilateral meetings.
