25.05.2023, 18:39 61041

Kazakhstan may increase exports of processed products to Kyrgyzstan by $100 million

Kazakhstan may increase exports of processed products to Kyrgyzstan by $100 million
Images | Ministry of Trade and Integration
The Ministry of Trade and Integration together with QazTrade is conducting a trade mission of Kazakhstani companies in Bishkek. As Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev said today at the opening of the Kazakh-Kyrgyz business forum, our country can increase exports of processed products to Kyrgyzstan by $ 100 million, press service of the Ministry of Trade and Integration reports.

We estimate the potential for increasing exports of Kazakh processed products to Kyrgyzstan in excess of $ 100 million. These are mainly products of the food, chemical, machine-building, pharmaceutical, metallurgical industries", - the Vice Minister of Trade and Integration of the Republic of Kazakhstan noted.


Kazakhstan is one of the three main trading partners of Kyrgyzstan. The trade turnover between our countries in 2022 amounted to $ 1.1 billion.

According to the Plenipotentiary Ambassador of the Republic of Kazakhstan to the Kyrgyz Republic Rapil Zhoshybayev, the next task for business is to bring the volume of trade to $ 2 billion. In addition, he outlined the main joint projects on which active work is underway. In particular, Rapil Zhoshybayev said that our countries are at the final stage of signing an agreement on four boarding houses located in the Issyk-Kul region.

Right now, investors are being invited to participate in projects to expand infrastructure and build new facilities", - Rapil Zhoshybayev said.


In turn, Deputy Minister of Economy and Commerce of the Kyrgyz Republic Kanat Abdrakhmanov listed priority areas for development: these are energy, tourism, agriculture, subsoil use and light industry. In addition to the traditional sectors of the economy, according to the representative of the Government of Kyrgyzstan, a serious impetus will be given to the creative industry, which will become a promising niche for business.

The creative industry is a new sector of the economy, and we consider it one of the beneficiaries of growth in the coming years. To develop this new direction, the concept of creative economy for 2022-2026 has been approved in Kyrgyzstan", - Kanat Abdrakhmanov shared at the business forum.


Within the framework of the trade mission, negotiations were held between Kazakhstani manufacturers and potential partners, which were held in the B2B format. As a result of the meetings, Kazakh businessmen signed export contracts for the supply of domestic goods to Kyrgyzstan for $ 35.2 million. The companies agreed on the supply of metal structures, diesel generators, food (confectionery, chicken eggs and egg powder, noodles, jams, apple juice, honey), as well as the provision of consulting services.

The business forum was attended by more than 100 enterprises of the two countries, as well as representatives of national companies and government agencies.

Reference:

By the end of 2022, the volume of exports from Kazakhstan to Kyrgyzstan increased by 10.5% and amounted to $ 745.3 million. Kazakhstan exports to Kyrgyzstan mainly parts and accessories for cars and tractors, electricity, tobacco products, coal, mineral and carbonated waters, passenger cars, flat rolled non-alloy steel clad.

The basis of Kyrgyz imports are ores and concentrates of precious metals, other hot-rolled unalloyed steel rods, polished glass, plastic containers.

Imports to Kazakhstan from Kyrgyzstan in 2022 increased by 1.8% and amounted to 382.4 million dollars.
 

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