Representatives of the Cyprus delegation raised such issues as the opening companies and doing business through Cyprus investment firms, conditions for the acquisition of real estate on the island, the investment climate, legal and business environment. The meeting also discussed the new opportunities, which opened for foreign investors in connection with the program of restoration of the Cypriot economy.

Adis Seydakmatov, the deputy head of the department of business, industrial and innovative development and agriculture of Almaty city administration, reported on the industrial-innovative enhancement of Almaty city.

"Almaty is one of the fastest growing cities in the region. The state creates the most favourable business environment in the city. 2013 gross regional product amounted to $46.4 billion. SMEs share in tax revenues reached 68% ", said the representative of the Akimat.

The Republic of Cyprus is a member of the European Union since 1 May 2004. In 2013 trade turnover between Kazakhstan and Cyprus amounted to $12.1 million (export) and $1.7 million (import).

Source: Turkish Weekly