Astana: President Nikos Christodoulides expressed optimism that entrepreneurs, investors, and innovators can lead to new partnerships and long-term cooperation between Cyprus and Kazakhstan. Addressing the Cyprus-Kazakhstan Business Forum in Astana Wednesday, the President noted that strengthening relations between the two countries is not only about political dialogue but also about strengthening economic ties, building closer links between business communities, and creating new partnerships, new investments, and new opportunities.
According to Cyprus News Agency, President Christodoulides emphasized that Cyprus views Kazakhstan as a strategically important partner in Central Asia, a region of growing regional and international significance. He highlighted Cyprus's impressive economic performance, noting a growth rate of 3% during the first quarter of 2026, the highest in the European Union. The European Commission's Spring Forecast also predicts that Cyprus will remain among the fastest-growing economies in the EU in 2026, with unemployment projected to decline to historic lows.
The President detailed Cyprus's highly competitive and business-friendly environment, including a 15% corporate tax rate, among the lowest in the European Union, and an extensive double-taxation treaty network covering more than 65 countries, including Kazakhstan. He described Cyprus as a reliable business and investment hub within the European Union, offering international companies a stable and efficient base for operations across Europe, the Eastern Mediterranean, and the greater Middle East.
President Christodoulides also noted Cyprus's leading role in ship management and its strategic position at the crossroads of Europe, the Eastern Mediterranean, and the wider Middle East. He highlighted the significance of the Trans-Caspian International Transport Route, with Kazakhstan emerging as a central pillar of this new connectivity architecture between Asia and Europe.
The President identified significant opportunities for closer Cyprus-Kazakhstan cooperation in areas such as shipping, maritime services, transport, logistics, fintech, digital technologies, artificial intelligence, energy, renewable energy, pharmaceuticals, healthcare, agriculture, and food security. He welcomed greater Kazakh investment interest in Cyprus and the wider Eastern Mediterranean and greater Middle East region.
The Prime Minister of Kazakhstan, Olzhas Bektenov, expressed mutual interest in deepening economic cooperation between the two countries. He described Cyprus as a reliable and forward-looking partner in the Mediterranean region. Under President Tokayev's leadership, Kazakhstan continues to pursue comprehensive political reforms to diversify its economy, foster innovation, and promote a knowledge-based development model.
Prime Minister Bektenov emphasized investment policy and capital attraction as cornerstones for maintaining sustainable economic growth and modernizing infrastructure. He highlighted Kazakhstan's strategic location at the heart of Eurasia and its role as a key regional trade and logistics hub, accounting for more than 80% of all overland cargo traffic between China and Europe.
Bektenov noted the potential to further increase bilateral trade and expand the range of goods supplied, particularly given Kazakhstan's status as a top grain producer and Cyprus's reputation for high-quality agricultural produce. He also highlighted the importance of digital technologies and innovation in fostering bilateral cooperation, pointing to Kazakhstan's efforts in digital transformation and the establishment of the Ministry of Artificial Intelligence and Digital Development.
The Prime Minister concluded by emphasizing the potential for Cyprus and Kazakhstan to leverage their respective strengths and explore new avenues of cooperation to create a mutually beneficial partnership.