Kazakhstan, Kyrgyzstan to increase trade turnover to $2 billion

The heads of the governments of Kyrgyzstan and Kazakhstan agreed to raise bilateral trade to $2 billion, according to “Turanews”.

Kazakh Prime Minister Alikhan Smailov made the statement at the First Forum of Interregional Cooperation between Kazakhstan and Kyrgyzstan, which is being held in Taraz.

“Today, our aim is to raise trading volume to $2 billion. We have all of the prospects that we must actively pursue,” stated Kazakhstan’s Prime Minister.

The leaders of the governments of Kyrgyzstan and Kazakhstan also observed that mutual commerce has been gradually increasing in recent years. The goal of $1 billion in trade turnover was met in 2021, and by the end of 2022, the amount had increased by 19%.

Smailov also disclosed that Kazakh enterprises had spent about $1.3 billion in Kyrgyzstan’s economy since 2005.

“There are over 3.5 thousand joint ventures running well in Kazakhstan, with approximately 200 new enterprises joining their ranks since last year. Without a doubt, the prospects for our investment partnership are far broader, and we are interested in continuing to develop collaborative projects,” said Smailov.

The parties also signed the Protocol of the 11th Kazakh-Kyrgyz Intergovernmental Council meeting, and the mayors of Shymkent and Osh, as well as the mayors of Aktobe and Jalal-Abad, signed memoranda on the formation of twinning connections.