Costas Markides, Board Member at KPMG in Cyprus, was elected as the first Chairman of the newly established Cyprus - Kazakhstan Business Association. Pantelis Christofides and Petros Brachas of L. Papaphillipou & Co LLC and Wade Adams respectively, were elected as Vice Presidents. Suzana Poyatzi of the audit firm Nexia Poyatzi was elected as the Treasurer of the Business Association.

The Ambassador of Kazakhstan to Cyprus (based in Athens) will be a member of the Board of Directors, serving from an ex officio role.

The establishment of the Business Association forms part of the framework of CCCI’s continued efforts in creating new perspectives for bilateral business partnerships. The main objectives of the Business Association, among others, are to:

· Promote and encourage Cyprus-Kazakhstan economic and trade relations, as well as cross-border investments

· Serve as a pressure lever for the governments of Cyprus and Kazakhstan, with the ultimate goal of improving and expanding the trade relations between the two countries

· Establish and maintain communication between businesses in both countries and serve as a reference point for the business community.

The Business Association has over 20 members, coming from businesses operating in a wide range of industries. The Business Association operates under the auspices of the CCCI.