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Grace period in EEU helps Kyrgyzstan launch idle production

Two-year grace period in the Eurasian Economic Union (EEU) gave Kyrgyzstan the opportunity to resume production that had been frozen or stopped. The Deputy Prime Minister Zhenish Razakov told at Eurasian Week Forum.

According to him, for 3 years in EEU, the volume of production in Kyrgyzstan increased by 11 percent. The country focuses on the use of domestic raw materials, development of light, processing, ore and other significant industries. The Vice Prime Minister recalled that the country’s entry into the EAEU provided tariff concessions in import of 166 items of goods. This contributes to the positive dynamics and the launch of investment projects.

«The Russian-Kyrgyz Development Fund works effectively. More than 750 projects of medium and small businesses totaling more than $ 250 million are being implemented in Kyrgyzstan. In general, participation in EEU gives us certain prospects and stability in the production and export of goods,» Zhenish Razakov summed up.

Eurasian Week is the largest international business forum of the Eurasian Economic Union. It is held to strengthen integration, increase economic potential and expand production cooperation of the EEU countries.

24.kg is the information partner of Eurasian Week Forum.