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Russian Export Center provides support to Kyrgyzstan of $120 million

The Russian Export Center (REC) supported exports to Kyrgyzstan for $120 million for ten months of this year. Website of the center says.

«In just ten months of 2023, the REC Group, within the framework of cooperation with the Kyrgyz Republic, provided support as part of more than 300 unique export services totaling $120 million,» the statement says.

According to the head of the center’s representative office in the Kyrgyz Republic, Ishkhan Buyuklyanov, trade turnover between the countries is constantly growing, and the structure is changing in favor of non-raw materials, non-energy goods.

«The Russian Federation traditionally occupies a leading position in Kyrgyzstan’s imports,» he noted and recalled that at the end of 2022, Russian-Kyrgyz trade turnover increased by 37 percent and reached $3.4 billion.

In the first half of 2023, compared to the same period last year, it increased by another 17.4 percent.

Metallurgy and precious metals, the chemical industry, including oil and gas chemistry, the food and processing industries, and mechanical engineering take the leading positions in non-raw material, non-energy exports to the Kyrgyz Republic.

«The leadership of Kyrgyzstan provides some of the most loyal conditions in the post-Soviet space for foreign citizens to do business. The VAT rate, for example, is 12 percent, and there are several tax regimes to choose from — from general to simplified based on a single tax,» Ishkhan Buyuklyanov stressed.

To date, the REC is working on several promising projects in the Kyrgyz Republic totaling more than $400 million, including the construction of Balykchi — Kochkor — Kara-Keche railway line, construction of a 300 MW solar power plant in Issyk-Kul region, creation of an information system for electronic fee collection from freight transport and buses for travel, weight and dimensional control.