International integration

Trade and economic cooperation of Kazakhstan and Kyrgyzstan has potential – expert

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On the trade and economic cooperation of Kazakhstan and Kyrgyzstan, scientific worker of KISI under the President of the Republic of Kazakhstan Baltabay Syzdykov told in the interview to IA "Strategy2050.kz".
Astana city11 October , 16:58

"Kazakhstani-Kyrgyz trade and investment relations developed positively during the independence of both countries. Kazakhstan for Kyrgyzstan, according to the International Trade Center, remains a key foreign trade partner, ranking second in exports (after Switzerland) and third in imports (after China and the Russian Federation). Despite the fact that the foreign trade turnover of the two countries for the past 2 years does not exceed 1 billion dollars (in the period from 2012 to 2014, trade turnover was more than 1 billion dollars), there is considerable potential for its growth. It is the entry of Kyrgyzstan into the Eurasian Economic Union that will create the conditions for further intensification of foreign trade of neighboring countries. A single customs border will give freedom to the movement of goods, services, capital and labor resources", B. Syzdykov said.

The latest analytical data of the Committee for Statistics of the Ministry of Energy of Kazakhstan indicate that only in the first half of 2017 the trade turnover between the countries increased by 28% to 399 million dollars. Kyrgyzstan delivers food products, agricultural products, electricity and vehicles to Kazakhstan. Kazakhstan exports grain, energy resources (petroleum products and coal), as well as ferrous and non-ferrous metals, chemicals.

"Trading operations are accompanied by joint investment. At the end of 2016, according to the National Bank of the Republic of Kazakhstan over the past 10 years, Kazakhstan's accumulated gross direct investments in Kyrgyzstan amounted to more than 1 billion dollars, mainly to the financial sector, trade and mining", B. Syzdykov said.

He also noted that the trade and investment cooperation between the two countries influenced the growth of joint companies. At present, about 200 joint enterprises with the participation of Kyrgyz capital are registered in Kazakhstan.

"Basically, enterprises are engaged in wholesale and retail trade, construction, car sales, cattle breeding, growing grain and leguminous crops, including seed production, cotton threads, and other types of publishing activities. About 300 joint enterprises with the participation of Kazakhstan capital (financial activity, food production, trade, car repair, household products and personal items, transportation and communications, construction, etc.) are registered in the Kyrgyz Republic", the expert explained.

At the same time, he noted that the development of relations takes place not only at the state level, but also between the regions.

"Interregional cooperation is becoming an important factor in expanding bilateral trade and economic, investment, cultural and humanitarian cooperation. Thus, ties have been established and agreements on twinning relations between the four regions of Kyrgyzstan and Kazakhstan have been signed. These are Issyk-Kul and Almaty regions, Osh and Karaganda regions, Jambul and Talas regions and Chui and South-Kazakhstan regions, as well as the capitals of the two countries - Bishkek and Astana", B. Syzdykov said.

In conclusion, he stressed that in this way, trade and economic cooperation between Kazakhstan and Kyrgyzstan is a mutually beneficial partnership with a continuing trend of growth in the long term.

 

Kairat Zhandybayev

 




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