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Russia proposes to create new program of cooperation with Kyrgyzstan

The Ministry of Economic Development of Russia proposed to develop a new program of economic cooperation with Kyrgyzstan. Press service of the ministry reported.

The Minister of Economic Development of Russia Maxim Reshetnikov met with the Deputy Chairman of the Cabinet of Ministers — Minister of Economy and Finance of Kyrgyzstan Akylbek Japarov today. The parties discussed trade, economic, humanitarian and investment cooperation between the two countries.

Maxim Reshetnikov noted that at the end of last year, Russia became the leader in Kyrgyzstan’s foreign trade turnover (27 percent), overtaking China in terms of the indicator.

Over five months of this year, the share of the Russian Federation has increased and exceeded 30 percent.

«In the first half of the year, trade between our states increased by more than 37 percent compared to the same period in 2020. We hope that we will be able to keep this trend,» he said.

Maxim Reshetnikov also pointed to the active investment cooperation between Moscow and Bishkek. By the beginning of 2020, almost 800 companies with Russian participation worked in the Kyrgyz market. Last year, a quarter of all foreign investments in Kyrgyzstan ($ 1.8 billion) came from Russia. One of the drivers of bilateral cooperation between the Russian Federation and the Kyrgyz Republic was the Intergovernmental Program of Economic Cooperation for 2018-2021, the Russian official added.

«It is being completed this year, we propose to start developing a draft program for the next period,» he said.

Maxim Reshetnikov named such areas as the digital economy, transport and logistics, industrial and agro-industrial cooperation, and joint work in the humanitarian field among the promising areas of cooperation. In addition, interregional cooperation remains one of the key aspects of relations between countries.

«More than 70 Russian entities maintain trade and economic ties with Kyrgyzstan. Chelyabinsk and Kurgan Oblasts, the Khanty-Mansiysk Autonomous Okrug — Yugra are showing an increased interest in building up cooperation,» he noted.

According to the official, the Russian-Kyrgyz Development Fund, created in 2014, helps to increase bilateral cooperation. The group of companies of the Russian Export Center also plays an important role. This year, it provided $ 47.5 million in financial and non-financial support to companies.