ASTANA, Kazakhstan, March 7. Deputy Prime
Minister, Minister of Foreign Affairs of the Republic of Kazakhstan
Murat Nurtleu met with the Minister of Foreign Affairs of Cyprus
Konstantinos Kombos and discussed new initiatives on economic and
trade partnership during his official visit to the Republic of
Cyprus, Trend
reports.
The sides discussed key issues of bilateral cooperation in the
political, trade-economic, investment, and cultural-humanitarian
spheres.
In the course of the meeting it was noted that regular meetings
between the heads of foreign ministries of the two countries have
given a noticeable boost to the progressive development of
relations and the strengthening of the corresponding legal
framework.
The Minister of Foreign Affairs of Kazakhstan emphasized that trade
turnover between the countries increased fivefold compared to 2023,
and the volume of Cypriot investments in 2024 amounted to $227
million. It was proposed to intensify business contacts with the
aim of expanding investment cooperation and further increasing
mutual trade volumes.
In turn, the FM of Cyprus noted that Kazakhstan is a reliable
partner of Nicosia in Central Asia. The cooperation between the two
countries within various international platforms, including the UN
and the OSCE, was highly appreciated.
The sides agreed to consider the possibility of establishing an
Intergovernmental Commission on Economic Cooperation, to activate
the activities of the Cyprus-Kazakhstan Business Association, and
to explore the opening of direct flights between the two
countries.
Following the negotiations, the ministers confirmed their readiness
for close and fruitful cooperation and the development of new
initiatives in priority areas, including within the framework of
Cyprus's upcoming presidency of the EU Council in the first half of
2026.
In 2024, the trade turnover between Kazakhstan and Cyprus amounted
to $7.1 million (exports – $6.2 million, imports – $949,000), which
is five times greater than in 2023. From 2005 to the second quarter
of 2024, the volume of Cypriot investments in Kazakhstan's economy
exceeded $4.8 billion. The inflow of direct investments from Cyprus
in 2024 amounted to $227.6 million. As many as 367 companies with
Cypriot capital are registered in Kazakhstan.
Kazakhstan, Cyprus chart new course for economic and trade partnerships
Photo: Ministry of Foreign Affairs of the Republic of Kazakhstan