ASTANA – President Kassym-Jomart Tokayev highlighted the expansion of trade, investment, energy, transport, digital innovation, and environmental cooperation between the two countries during the Kazakhstan-Finland Business Forum held on Oct. 28 as part of Finnish President Alexander Stubb’s official visit to Astana.
In his address, President Kassym-Jomart Tokayev noted his great honor to host President Alexander Stubb on an official visit. Photo credit: Akorda.
The forum showcased the growing presence of Finnish companies in Kazakhstan, reinforced partnerships in nuclear and renewable energy, and promoted collaboration in artificial intelligence, agriculture, and sustainable transport development, reported Akorda.
“This forum is not just about signing contracts, it is about establishing connections and building trust between our entrepreneurs, engineers and innovators,” said Tokayev.
Trade and investment expansion
President Tokayev emphasized Finland’s strategic importance, noting that Finnish direct investment in Kazakhstan grew by over 80% last year, totaling nearly $500 million. Approximately 50 Finnish companies operate in Kazakhstan, including KONE, Nokia, Fortum, Wärtsilä, Metso, Tikkurila, Valtra, and Peikko. Tokayev stressed the commitment to expanding Finnish investment and fostering new opportunities for dynamic economic growth and innovation.
Energy cooperation and innovation
Kazakhstan considers nuclear energy, renewable power, and hybrid systems as key pillars of its energy strategy. Tokayev highlighted Kazakhstan’s position as the world’s largest uranium producer and welcomed cooperation with Finland’s Radiation and Nuclear Safety Authority (STUK) on peaceful nuclear energy projects. Finnish expertise, including Wärtsilä’s hybrid energy solutions and Metso’s industrial automation technologies, supports Kazakhstan’s modernization of the energy and mineral sectors.
Transport and logistics development
Kazakhstan’s strategic location as a transit hub linking Europe and China was emphasized. The Trans-Caspian International Transport Corridor, also known as the Middle Corridor, and the new Smart Cargo digital management platform will optimize freight flows. Finnish company Nurminen Logistics contributes advanced multimodal transport solutions. Modernization of the Caspian ports of Aktau and Kuryk, including a container hub at Aktau with a capacity of 240,000 annual containers, will strengthen regional connectivity.
Agriculture, AI, and digital cooperation
Tokayev highlighted Kazakhstan’s potential in agriculture, noting joint ventures for advanced crop and livestock processing, as well as academic exchanges with the University of Eastern Finland under Erasmus+. Kazakhstan aims to become fully digital within three years, and collaboration in AI, high-performance computing, and innovation ecosystems was encouraged, leveraging Finland’s expertise and the LUMI supercomputer.
Environmental sustainability and strategic partnership
Kazakhstan seeks Finnish cooperation in environmental protection, forestry, and advanced air quality monitoring under the Taza Kazakhstan initiative. President Tokayev emphasized that these partnerships support sustainable development, strengthen bilateral ties, and create opportunities for joint research, investment, and technological innovation.
Strengthening bilateral relations
President Tokayev concluded that the forum enhanced mutual trust and provided a platform for long-term economic, technological, and environmental cooperation. Finnish President Alexander Stubb praised Kazakhstan’s business climate, highlighting the importance of stability and bilateral agreements, while new memoranda of understanding and cooperation agreements were signed during the forum.
“We live in a more unstable, less predictable, more geo-economic world. I say this because in times like these, business truly needs stability. And stability is ensured primarily by the agreements we concluded today between Finland and Kazakhstan at the political level. Furthermore, memoranda of understanding were signed here today, and documents were exchanged,” said Stubb.
Prime Minister Olzhas Bektenov meets with President Stubb
The same day, Kazakh Prime Minister Olzhas Bektenov met with President Stubb to discuss expanding trade, investment, and technological cooperation, including collaboration in industry, energy, digital transformation, transport, logistics, finance, and the agro-industrial sector.
