“Kazakhstan Country Day” Organized By The ICI Attracted a Great Deal of Attention From The Business World

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Istanbul Chamber of Industry (ICI) continues to introduce alternative markets to industrialists; one of the most recent examples is the “Kazakhstan Country Day” event, organized under the theme “Opportunities for Turkey”. The event, held at the InterContinental Hotel on 30th of March, 2017, attracted a great deal of attention from the Turkish business world doing business in Kazakhstan, the industrialists who would like to be informed about the opportunities in the country, as well as the ICI member companies.

The event, hosted by the ICI Board Member Nurhan Kaya with the purpose of diversifying and strengthening economic ties between Kazakhstan and Turkey, addressed in a detailed manner the incentives and facilities provided to foreign investors in Kazakhstan. At the event, where a series or presentations were delivered, the participants exchanged ideas about the actions that would help to enhance trade volume between two countries. ICI Board Member Nurhan Kaya, Consul General of Kazakhstan to Istanbul HE. Yerkebulan Sapiyev, Kazakhstan-Almaty Commercial Attache between the years 2012-2016 Osman Elgün, Board Chairman of Kazakhstan Ziraat International Bank Abdurrahman Zeki Arifioğlu and Kazakhstan Investment and Development Ministry Investment Committee Deputy Chairman Kairat Karmanov delivered their speeches. 

ICI Board Member Nurhan Kaya, in her opening speech, reminded that Turkey has been the first country to recognize the independence of Kazakhstan and to establish diplomatic relations with the country on December 16th, 1991. Kaya, expressing the importance of bilateral relations with Kazakhstan for Turkey, said: “The investment amount of Turkish-capital companies in Kazakhstan is around 2 billion USD, which in return means employing 15 thousand people. Turkey ranks 17th when it comes to foreign countries investment amount in Kazakhstan and ranks 4th from the perspective of total foreign non-energy investments in the country”. Kaya also underlined that the trade volume between two countries was much below its real potential and said that she firmly believed it would expand with the contribution of both countries and business people. She concluded her words by emphasizing that the ICI is ready and willing to offer all types of support to this end.


Consul General of Kazakhstan
to Istanbul HE. Yerkebulan Sapiyev

Consul General of Kazakhstan to Istanbul HE. Yerkebulan Sapiyev, taking the floor after Kaya, started his speech by thanking the ICI for its gracious hospitality. Sapiyev said: “I would like to first of all thank the esteemed Board Chairman of the ICI Erdal Bahçıvan, ICI’S distinguished members and everyone who contributed to the organization of this event”. Sapiyev, explained that trade between Turkey and Kazakhstan have been growing rapidly in recent years thanks to mutual visits on governmental and ministerial levels and he thanked once again to Turkey for being the first country to recognize Kazakhstan’s independence. Sapiyev told that the relations between two countries were no longer only economic, but also cultural and political, as bilateral relations gained momentum and the two countries have now become strategic partners.

Sapiyev stated that Kazakhstan economy attracted 220 billion USD worth of FDI in 25 years and that 1700 Turkish companies have contributed to this number. Sapiyev also expressed that interest in Kazakhstan has increased and continued: “According to statistics, 60 foreign firms have visited Kazakhstan with the intention of investing.  We organized all these visits. 20 of these firms have decided to invest in our country. Factors such as our favorable location, the incentives and facilities we offer and our ability to trade with neighboring countries without any red tape , thanks to customs and economic unions we established with those countries, bring foreign investors to our country.”


Turkish Commercial Attache
Osman Elgun

Sapiyev was followed by Osman Elgun, the Turkish Commercial Attache who served in Almaty between the years 2012-2016. Elgun, during his speech, shared his experiences gained throughout his years in Kazakhstan and delivered a presentation explaining topics like foreign trade indicators, sectoral comparisons for potential investors as well as the Eurasia Economic Organization.


Board Chairman of Kazakhstan
Ziraat International Bank
Abdurrahman Zeki Arifioğlu

Board Chairman of Kazakhstan Ziraat International Bank Abdurrahman Zeki Arifioğlu was on atage after Elgun to make his speech and deliver his presentation. Arifioğlu informed the audience on various economic matters including Kazakhstan’s banking and finance systems.


Kazakhstan Investment and
Development Ministry Investment
Committee Deputy Chairman
Kairat Karmanov

Following Arifioğlu, Kazakhstan Investment and Development Ministry Investment Committee Deputy Chairman Kairat Karmanov was on stage. Karmanov began his talk by informing the audience about the incentives offered in his country, then carried on talking about topics that investors were mostly curious about such as logistic facilities and solutions, settlement and infrastructure, bureaucratic processes and procedures.

Furthermore, in the panel, chaired by ICI Attending General Secretary Haktan Akın and attended by Yılmaden Holding’s CEO Dr. Alp Malazgirt, Abdi İbrahim Pharmaceuticals Industry International Markets Sales and Marketing Director Cengiz Saim, Tümlas Rubber Industry Company Manager Mehmet Selçuk Özulu, the panelists discussed economic relations between the two countries and informed the audience about their own companies’ activities.

The event ended with a comprehensive Q&A session and the participants have learned a great deal of Kazakhstan’s economy and the investment processes in the country.