President Nikos Christodoulides said Cyprus sees Kazakhstan as a strategically important partner in Central Asia, as the two countries used their first business forum in Astana to underline opportunities in trade, investment and connectivity.
Addressing the Cyprus-Kazakhstan Business Forum, Christodoulides said Kazakhstan was playing a growing role in linking Europe and Asia and in promoting new trade and investment corridors across Eurasia.
He said Cyprus and Kazakhstan shared the view that stronger connectivity and closer economic cooperation could create new opportunities for their people and economies.
The forum took place during what Christodoulides described as a milestone visit, as Cyprus holds the presidency of the Council of the European Union, with connectivity and international partnerships among its priorities.
Christodoulides also used the forum to present Cyprus as a stable EU business base, citing 3% growth in the first quarter of 2026, which he said was the highest in the European Union, as well as European Commission forecasts showing Cyprus among the bloc’s fastest-growing economies this year.
He said Cyprus’s performance was supported by sound public finances, sustained fiscal surpluses and falling public debt, which stood at about 52.2% of GDP in 2025.
The president also pointed to Cyprus’s “A” category rating by all major international credit rating agencies, its 15% corporate tax rate and a network of double taxation treaties covering more than 65 countries, including Kazakhstan and India.
“In today’s uncertain international environment, predictability, reliability and trust have become strategic economic advantages,” Christodoulides said. “And Cyprus is committed to offering exactly this environment to investors, businesses and international partners.”
He said Cyprus offers international companies a base for operations across Europe, the eastern Mediterranean and the wider Middle East, while also acting as a bridge between Europe and wider Asia, including India, the Gulf region and Central Asia.
Christodoulides said Cyprus’s role was also strengthened by its shipping and logistics sector, noting that the island hosts one of the world’s leading ship management centres and one of the most important shipping clusters in the EU.
He said the Trans-Caspian International Transport Route, known as the Middle Corridor, was gaining strategic importance as global supply chains and transport corridors are reshaped.
“Kazakhstan is emerging as a central pillar of this new connectivity architecture between Asia and Europe, while Cyprus, at the crossroads of Europe, the eastern Mediterranean and the wider Middle East, can serve as a complementary gateway to the European Union and the wider region,” he said.
Christodoulides also cited the first direct Air Astana flight linking Kazakhstan and Cyprus as a sign of growing ties between the two countries and a step towards strengthening business mobility, tourism and investment flows.
He said Cyprus saw opportunities for closer cooperation in shipping and maritime services, transport and logistics, fintech and digital technologies, artificial intelligence and innovation, energy and renewable energy, pharmaceuticals and healthcare, and agriculture and food security.
Cyprus could serve as an entry point for Kazakh companies seeking access to the European market and as a partner for regional operations and investment structuring, he said.
Kazakhstan sees deeper trade potential
Kazakhstan Prime Minister Olzhas Bektenov said the forum confirmed mutual interest in deepening economic cooperation between the two countries.
Bektenov described Cyprus as a reliable and progressive partner in the Mediterranean, saying Kazakhstan was pursuing reforms to modernise its economy, strengthen innovation and promote knowledge-based growth.
He said Kazakhstan’s GDP grew by 6.5% last year, above the global average of about 3%, while foreign direct investment rose by 14.4% to $20.5 billion.
Bektenov said foreign direct investment from Cyprus into Kazakhstan had exceeded $5.4 billion since 2005, with almost half of that amount invested in the past five years.
He said Kazakhstan saw significant potential to increase bilateral trade and expand the range of goods supplied.
Bektenov also pointed to Kazakhstan’s position in Eurasia, saying the country accounts for more than 80% of all land freight transport between China and Europe.
In that context, he said Cyprus could play an important role as a logistics and distribution hub in the eastern Mediterranean, while the launch of direct Astana-Larnaca and Almaty-Larnaca flights created new opportunities for passenger traffic and cargo logistics.
Bektenov said agriculture, digital technologies and innovation could also become stronger areas of cooperation, citing Kazakhstan’s role as one of the world’s top 10 grain producers and Cyprus’s recognised agricultural products.
He said Kazakhstan had set a goal of becoming a fully digital and AI-based state, with a new Ministry of Artificial Intelligence and Digital Development, two supercomputers, the ALIMPI international AI centre and the Astana Hub technology park.
Kazakhstan was ready to cooperate with Cyprus in IT, fintech, governance, start-up ecosystems, venture capital financing and digital public services, he said.
Bektenov said Kazakhstan and Cyprus could create a mutually beneficial partnership by building on their respective strengths and exploring new areas of cooperation.
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