20 commodity producers of the Republic of Kazakhstan presented their products to Kyrgyz businessmen. Within the framework of the TEM, B2B negotiations of Kazakhstani manufacturers with more than 100 Kyrgyz companies were held.
Opening the events of the trade and economic mission, Vice Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev noted the importance of strengthening trade and economic cooperation between the two countries.
– Our economies are closely intertwined with each other. Kazakhstan is one of the leading trade, economic and investment partners of Kyrgyzstan, taking the 3rd place in the foreign trade turnover of Kyrgyzstan. There are 334 joint ventures with the participation of Kazakh capital operating in Kyrgyzstan. Now our two countries condemn joint projects to create industrial and logistics centers in the area of the busiest and largest crossing points on the Kazakh-Kyrgyz border. This will allow us not only to build effective transport and logistics channels for key areas of fresh products supply, but also to carry out joint export-import operations with the countries of the EAEU, Central Asia and China, – Torebayev said.
He noted that the projects of industrial cooperation will allow our countries to export not only raw materials,but to switch to deep processing and export finished products.
According to the Kazakh Vice Minister, the active development of cooperation between the regions of the two countries is becoming a significant factor in expanding bilateral trade, economic, investment, cultural and humanitarian cooperation.
Deputy Minister of Investment of the Kyrgyz Republic Ulanbek Asanov noted that our countries face an ambitious task set by the presidents – to bring the mutual trade turnover to $1 billion.
– It is necessary to strengthen the work in this direction and find new horizons for its full implementation… The strengthening of relations based on the traditional centuries-old friendship and cooperation between our peoples will have a dynamic continuation in the long term, – he said
Vice Minister Asanov also said that ” the Kyrgyz Republic is on the verge of major changes, which are primarily aimed at implementing priority policies in the field of creating favorable conditions for reforms and ensuring socio-economic stability. Thus, all the efforts of the Cabinet of Ministers of the Kyrgyz Republic are aimed at creating an attractive investment and business climate.”
Within the framework of the trade and economic mission, Kazakhstan was represented by producers of food, chemical, pharmaceutical, MMC, construction and machine-building products.
During the B2B meetings, export contracts for $13 million were signed (for the supply of salt, for the supply of Pet preforms and plastic caps, and for the supply of telecommunications equipment. The negotiations between the businesses of the two countries will continue in a working order.
In addition, Nuraly Bukeikhanov, Deputy General Director of Qaztrade JSC, and Ulan Asanov, Deputy Minister of Investment of the Kyrgyz Republic, signed a Memorandum on cooperation in the development of trade policy. A similar Memorandum was also signed by JSC “Qaztrade” with the Kyrgyz Union of Industrialists and Entrepreneurs.
The organizer of Trade and economic missions of the Republic of Kazakhstan in other countries is JSC “Qaztrade” of the Ministry of Trade and Integration of the Republic of Kazakhstan.
For reference:
In 2020, the trade turnover between Kazakhstan and Kyrgyzstan amounted to 796.2 million US dollars (exports – 562.6 million dollars, imports-233.6 million dollars). The trade turnover in January-May 2021 amounted to 328.7 million US dollars, which is 8.2% higher than in the same period of the previous year (303.8 million US dollars). Exports from Kazakhstan to Kyrgyzstan in January-May 2021 increased by 6.2% and amounted to 227.2 million US dollars.
The main export goods from Kazakhstan to Kyrgyzstan are: natural gas, passenger cars, petroleum products, tobacco products, water, including mineral and carbonated, with sugar, hygiene items for women and children, etc..
The main import goods to Kazakhstan from Kyrgyzstan are: ores and concentrates of precious metals, polished glass, bread and flour confectionery products, plastic containers, etc..
There are 334 joint ventures registered in Kyrgyzstan with the participation of Kazakh capital (financial activities, food production, trade, repair of cars, household goods and personal items, transport and communications, construction, etc.).
There are 247 joint ventures registered in Kazakhstan with the participation of Kyrgyz capital in such areas as: wholesale and retail trade, construction, sale of cars, cattle breeding, cultivation of grain and leguminous crops, including seed production, production of cotton threads, and other types of publishing activities.
