New Joint Business Council Opens the Door to Large-scale Investments and Partnerships between Bulgaria and Kazakhstan

A bilateral business Forum was held at the Bulgarian Chamber of Commerce and Industry (BCCI) with participants from Bulgaria and Kazakhstan. During the event, a Bulgaria–Kazakhstan Joint Business Council was officially established by BCCI and the International Chamber of Commerce of Kazakhstan. The initiative was also supported by the Embassy of the Republic of Kazakhstan in Sofia. The new body will serve as a strategic platform for an intensive information exchange and for expansion of the market opportunities for entrepreneurs from both countries.

During the official opening of the Forum, the Chamber President Tsvetan Simeonov emphasised that in times of conflicts, hampered supply chains and disrupted transport links, the initiative to provide a two-way information flow will open new doors and will enable the companies from Bulgaria and Kazakhstan, which are currently working together, as well as the new partners, to develop their relationships.

H.E. Viktor Temirbayev, Extraordinary and Plenipotentiary Ambassador of Kazakhstan in Bulgaria, noted that the establishment of the Council was the result of the thorough work, which was done for many years by the Intergovernmental Commission and the Chambers of Commerce from both countries. He wished the Council every success.

Murat Karimsakov, Chairman of the Management Board of the International Chamber of Commerce of Kazakhstan and Representative of the Management team of the ‘Atameken’ National Chamber of Entrepreneurs, emphasised that the main mission of his Organisation is to support Kazakhstani businesses in developing their foreign economic relations, going out into international markets and establishing new business partnerships.

It was noted that in 2024, the bilateral commercial exchange of goods recorded significant growth and reached record levels – over $375 million US dollars. Transport and logistic links with railway and road transport through Kazakhstan are developing excellently. Over $87 million US dollars of Bulgarian direct foreign investments flowed into Kazakhstan in the period 2005–2025 and they are concentrated mainly in the sector of agriculture. On the other hand, the database of the Bulgarian Chamber of Commerce and Industry has officially registered a total of 31 companies with Kazakhstani capital which are currently operating.

The event was attended by Stanislav Novakov, the Honorary Consul of Kazakhstan in Bulgaria, Plamen Yurukov, Chairman of the Bulgarian-Kazakh Chamber of Commerce and Industry, Tsvetozar Genchev, Head of the Office for Trade and Economic Affairs in the city of Astana, as well as representatives of Bulgarian and Kazakh companies.

The Forum presented companies and specific sectors with a high added value – namely, Aktau Port and Bugin Holding Corp., among others.

The event concluded with an official ceremony to sign a Memorandum of Understanding on the creation of the Joint Business Council.

Intensive meetings were held between Bulgarian and Kazakhstani companies for the purpose of negotiating actual trade partnerships.