Kyrgyzstan's Trading Company to be able to open subsidiaries abroad

17:17, 02 декабря 2024, Bishkek - 24.kg news agency , Baktygul OSMONALIEVA

Trading Company of the Kyrgyz Republic OJSC will be able to open subsidiaries abroad. The head of the Cabinet of Ministers Akylbek Japarov signed amendments to the order on its establishment.

It is noted that the OJSC with 100 percent state participation in the authorized capital in the manner prescribed by law, in addition to its branches and representative offices, also has the right to establish subsidiaries in foreign countries.

Trading Company OJSC and its subsidiaries, in order to achieve their goals, have the right to:

• Accredit (authorize) other legal entities, regardless of the form of ownership, to conclude contracts, the subject of which is the trade in goods and services (including without actual final delivery to the territory of the Kyrgyz Republic), in order to monitor the market for purchased goods and services and systematize this flow;
• Set separate provisions on settlements in relation to entities engaged in foreign economic activity when concluding contracts, the subject of which is trade in goods and services (including without actual final delivery to the territory of the Kyrgyz Republic).

According to the Ministry of Justice, the head of Trading Company of the Kyrgyz Republic OJSC is Zhanyshbek uulu Nazarbek, the founder is the Ministry of Economy and Commerce.

Trading Company OJSC was established on August 23, 2024. It should streamline trading activities and will serve as a tool for controlling financial transactions by types of trade transactions.

The charter states that the main objectives of the company include conducting international trade, organizing and controlling financial transactions, such as currency transfers and settlements with foreign partners, managing currency risks and ensuring financial stability.