Cyprus has identified Kazakhstan as an important partner in Central Asia, President Nikos Christodoulides said during the inaugural Cyprus-Kazakhstan Business Forum in Astana. The forum focused on economic cooperation, investment and connectivity between the two countries.
Strategic Connectivity And Economic Partnership
President Christodoulides said Kazakhstan is playing an increasingly important role in connecting Europe and Asia through expanding trade and transport corridors. According to the President, stronger commercial and investment links across Eurasia could create new opportunities for businesses and investors in both countries.
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Robust Economic Performance And Fiscal Stability
Highlighting Cyprus’ economic performance, President Christodoulides noted that the country recorded 3% growth in the first quarter of 2026. Forecasts by the European Commission indicate that Cyprus is expected to remain among the fastest-growing economies in the European Union, while unemployment remains at historically low levels. The President also referred to budget surpluses and declining public debt, which is projected to reach approximately 52.2% of GDP by 2025. Recent assessments by international rating agencies have reaffirmed Cyprus’ credit ratings.
A Hub For Investment And Innovation
Cyprus maintains a corporate tax rate of 15%, one of the lowest in the European Union. An extensive network of double taxation agreements covering more than 65 countries, including Kazakhstan and India, further supports the country’s position as a destination for international investment. President Christodoulides said these factors contribute to a predictable and reliable business environment for investors.
Enhancing Logistics, Digital Transformation And Trade
As transport networks and supply chains continue to evolve, Cyprus is seeking to strengthen its role as a logistics and connectivity hub linking Europe, the Eastern Mediterranean and the Middle East. The recent launch of direct Air Astana flights between Kazakhstan and Cyprus was highlighted as an example of growing connectivity between the two countries, supporting business travel, tourism and investment flows.
Expanding Bilateral Opportunities
The forum also highlighted sectors with potential for cooperation, including shipping and maritime services, transport and logistics, fintech, artificial intelligence and innovation, renewable energy, pharmaceuticals, healthcare, agriculture and food security. President Christodoulides said Cyprus can serve as an entry point to the European market for companies from Kazakhstan looking to expand their activities within the region.
Looking Ahead: A Partnership For Sustainable Growth
In their closing remarks, President Nikos Christodoulides and Kazakhstan Prime Minister Olzhas Bektenov emphasized the importance of turning business and investment opportunities into concrete projects. Bektenov described Cyprus as a reliable partner in the Mediterranean and highlighted Kazakhstan’s ongoing reforms under President Kassym-Jomart Tokayev aimed at supporting economic development, innovation and investment. He also referred to recent increases in GDP and foreign direct investment, which have strengthened Kazakhstan’s position as a regional centre for trade and investment.
The forum concluded with discussions on expanding cooperation between the two countries and strengthening economic ties across a range of sectors.
