Kazakhstan has presented its trade, economic and investment potential to Cyprus business community

On April 19 the Embassy of Kazakhstan to Israel and Cyprus as well as Kazakh Invest National Company with the support of the Cyprus-Kazakhstan business association has organized a “Kazakhstan Today” virtual roundtable.

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.

In his speech, Ambassador Satybaldy Burshakov highlighted the main milestones of Kazakhstan’s independence, including recent political and economic changes which took place at the initiative of President Kassym-Jomart Tokayev. He also informed about the reforms announced by the Head of State following the elections to Mazhilis in January 2021. The Ambassador noted that the Agreement on Enhanced Partnership and Cooperation between the European Union and Kazakhstan ratified by Cyprus will contribute to the development of political dialogue and trade relations between our countries.

Taking into account high rank of Cyprus in the list of top investors in the economy of Kazakhstan (444.8 million US dollars in 2020), he invited Cypriot businessmen to use the existing potential of bilateral cooperation more efficiently.

Welcoming the initiatives of the Kazakh side Chairman of the Cyprus-Kazakhstan Business Association Costas Markides 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 focusing on export, tourism and investment potential of Kazakhstan. Speakers represented Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, Kazakh Invest, Kazakh Tourism, QazTrade and the Astana International Financial Center. They have focused on the fact that Kazakhstan is historically located on the famous Silk Road, with its great transit potential between Europe and Asia, within the framework of the EAEU and “Belt and Road Initiative”.

As a special guest The Honorary Consul of Kazakhstan in Cyprus Roman Starikovich shared his personal experience of doing business in Kazakhstan, as well as his impressions about hospitality of the Kazakh people. The participants expressed hope that the global pandemic restrictive measures will be removed soon which will allow the business structures of both countries to resume there business activities.