AKIPRESS.COM - Cyprus’ Foreign Minister Nikos Christodoulides visited Kazakhstan on 15 May where he met his Kazakh counterpart Beibut Atamkulov and signed two documents that open up new opportunities for bilateral cooperation, New Europe reports.

Christodoulides and Atamkulov signed a Memorandum of Understanding between foreign ministries on cooperation and bilateral political consultations as well as the Convention between the Government of Kazakhstan and Cyprus on the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income.

Both documents will contribute to the growth of Cyprus investments in the economy of Kazakhstan, Atamkulov said at the Kazakh Ministry of Foreign Affairs after the completion of the negotiations. “I am firmly convinced that these two documents will give a powerful impetus to both political and trade-economic cooperation between Kazakhstan and Cyprus,” he said.

According to him, currently, 207 companies and representative offices with the participation of Cypriot capital are registered in the republic. Cypriot entrepreneurs mainly work in the field of mining, trade, construction, freight forwarding and financial services.

Christodoulides said agriculture, tourism, and the food industry can currently become promising areas for cooperation.

The parties agreed to hold a Kazakhstan – Cyprus business forum in the near future.