"The newly established Bulgarian-Kazakhstan Business Council aims to expand and deepen cooperation between companies from both countries", said the Ambassador of Kazakhstan to Bulgaria Viktor Temirbayev at the opening of the first meeting of the Council, which was held on October 20 at the building of the Bulgarian Chamber of Commerce and Industry in Sofia.
„This is a continuation of the hard work carried out by the Kazakh and Bulgarian partners after the visit of your president (ed. note: Rumen Radev) to Kazakhstan last year. I hope that this council will expand and strengthen our cooperation in various areas“, said Temirbayev.
The council was established within the framework of the Bulgarian-Kazakhstan business forum and bilateral business meetings organized on the occasion of the visit of a business delegation from Kazakhstan to Bulgaria.
Kazakh companies are interested in partnerships with Bulgarian business in the fields of information technology, logistics, the textile industry, trade, agriculture and legal services.
The new Bulgaria-Kazakhstan Joint Business Council should become a permanent platform for direct dialogue between companies, exchange of information, creation of new partnerships and implementation of joint initiatives. It comes at a time when economic relations between the two countries are becoming more active. For the last 2 years (note 2024-2026). In 2025, the trade turnover is 1.141 billion USD, of which 110.71 million USD are Bulgarian exports and 1.020 billion USD are imports from Kazakhstan, according to data from the Ministry of Economy of Bulgaria.
The latest NSI data for the period January-August this year show that Bulgaria exported goods to Kazakhstan for 61.1 million EUR, which is a growth of 2.2%, while imports reached 852.9 million EUR, or 18.8% more on an annual basis. Thus, in just eight months, the total trade turnover is approximately 914 million EUR, and the Bulgarian trade deficit reaches almost 792 million EUR. This means that if the pace continues, 2026 could be another very strong year for bilateral trade, but the structure remains highly unbalanced in favor of Kazakh exports.
Karimsakov: The goal is to reverse the decline in bilateral trade
The creation of the first joint Business Council is a new stage in relations between companies from Bulgaria and Kazakhstan.
“The creation of our first joint Business Council marks a new milestone in bilateral relations between our business structures. The newly created platform builds a solid foundation, above all, for a direct and highly trusting dialogue between our business partners,“ said Murat Karimsakov, Chairman of the International Chamber of Commerce of Kazakhstan.
According to him, an important driver of trade and economic relations is the direct dialogue between the regions of the two countries. Examples included the partnerships between Almaty and Varna, Uralsk and Blagoevgrad, as well as the relations between Astana and Sofia and between the major industrial centers Shymkent and Plovdiv.
One of the immediate tasks is the restoration of bilateral trade after the reported decline. “Bilateral economic relations demonstrate significant potential and today our main goal is to make joint efforts to increase trade and maintain high mutual business interest. After a record period of significant growth, our market has gone through a natural phase of adaptation. Unfortunately, bilateral trade indicators have recently recorded a temporary decline (editor's note based on data from Kazakh agencies). Our common goal today is to reverse this dynamic, restore the volume of mutual supplies and surpass previous achievements“, said Karimsakov.
Over 87 million USD Bulgarian investments in Kazakhstan
Long-term investment cooperation remains one of the foundations of economic relations. According to the data presented, between 2005 and 2025, the gross inflow of foreign direct investments from Bulgaria into the economy of Kazakhstan exceeded 87 million USD. 104 enterprises with Bulgarian capital participation are registered in Kazakhstan, with 64 of them actively operating in various sectors, including transport, digitalization, logistics, agriculture and energy.
According to Karimsakov, Kazakhstan offers Bulgarian capital 3 main competitive advantages – diverse energy sources, huge transit and transport potential and a rich resource base.
Particular importance is given to transport and logistics.
„First of all, there is the transport and logistics sector, where the initiative to integrate the Bulgarian Black Sea ports of Burgas and Varna with the Middle Corridor is gaining particular importance. Such a strategic integration of the port infrastructure of the Caspian and Black Seas opens a continuous logistics route between Central Asia and Europe“, said Karimsakov.
A Bulgarian company is preparing an investment of 25 million USD
Another promising sector is the agricultural industry. Bulgaria can offer technologies in selection and seed production, European processing standards and experience in the production of wine, dairy and confectionery products and the processing of fruits and vegetables.
Kazakhstan, for its part, offers a raw material base, investment preferences and the opportunity to access markets in Central Asia.
Among the specific initiatives is a project by the Bulgarian company Lekerbek with partners from Shymkent. A feasibility study is currently being developed for the construction of a modern ready-made food enterprise using sous-vide technology.
“The investment volume will be approximately 25 million USD, and the complex will serve as a technological benchmark for the processing of agricultural products with subsequent access to markets in the region“, said Karimsakov.
In digitalization, the Bulgarian IT company Microinvest and its many years of experience in business automation and a developed dealer network in Kazakhstan were cited as a successful example.
The Kazakh side also presented a portfolio of 250 investment projects worth a total of about 80 billion USD.
“We must consistently expand the horizons of our partnership, going beyond traditional commercial supplies“, Karimsakov emphasized. According to him, it is the new Business Council that should help overcome information and administrative barriers, problems in supply chains, and differences in technical regulations and standards.