Trade, economic and investment potential of Kazakhstan presented to the Cyprus business community
Tel Aviv, April 19, 2021 - The Kazakh-Cypriot business forum was held organized by the Embassy of Kazakhstan in Israel and concurrently in Cyprus together with the national company KAZAKH INVEST with the assistance of the Cyprus-Kazakhstan business association.
The online event dedicated to the 30th anniversary of Kazakhstan's independence was attended by Cypriot companies representing various business areas, as well as experts from various industries.
In his speech, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the State of Israel Satybaldy Burshakov highlighted the main milestones of state building, including political and economic transformations carried out in our country in recent years at the initiative of President Kassym-Jomart Tokayev, including the diplomat explained about the package of reforms. The Ambassador noted that the Agreement on Enhanced Partnership and Cooperation between the European Union and Kazakhstan, also ratified by Cyprus, will contribute to the development of political dialogue and trade relations between our countries.
Taking into account the key position of Cyprus in the list of top investors in the Kazakh economy, Cypriot businessmen were invited to more effectively use the existing potential of bilateral cooperation. In 2020, compared to 2019, the volume of investments from Cyprus increased by about 4 times from $ 116.4 million to $ 444.8 million.
Chairman of the Cyprus-Kazakhstan Business Association Kostas Markides, welcoming the initiatives of the Kazakh side, assured that the Association will make every effort to develop trade and economic relations between Kazakhstan and Cyprus.
At the plenary session, the participants had the opportunity to get acquainted with an extended presentation on the current situation and the prospects for economic development in the post-coronavirus period, export, tourism and investment potential of Kazakhstan.
The speakers were representatives of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, KAZAKH INVEST, Kazakh Tourism, QazTrade and the Astana International Financial Center. The main attention was focused on the fact that Kazakhstan historically located on the famous Silk Road, has a large transit potential between Europe and Asia, including within the framework of the EAEU and the Belt and Road Initiative. The Honorary Consul of Kazakhstan in Cyprus Roman Starikovich spoke as a specially invited guest who shared his personal experience of doing business in Kazakhstan, as well as his impressions of the hospitality of the Kazakh people.
The participants in the event expressed their hope for the early lifting of restrictive measures, which will allow the business structures of both countries to resume business activity.
For reference: 320 companies with Cypriot participation are registered in Kazakhstan in such areas as construction, telecommunications, finance, insurance, pharmaceuticals, tourism, transport services, agriculture, education, etc.
