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Kazakhstan invested over $1bn in Kyrgyzstan’s economy

27 November 2019 16:45

BISHKEK. KAZINFORM President Kassym-Jomart Tokayev outlined the results of the bilateral cooperation with Kyrgyzstan in the past several years, Kazinform correspondent reports.

«The main advantages of the Kazakh-Kyrgyz relations is the presence of common border, well developed transport infrastructure and partnership within the EAEU. Thanks to this, Kazakhstan has become one of the leading trade partners of Kyrgyzstan and stands the third in foreign trade turnover of Kyrgyzstan. In turn, Kyrgyzstan is our second trade partner in Central Asia. Our trade turnover has demonstrated stable growth for the third year in a row: from 2015 to 2018 the volume of mutual trade increased by 30% and made $900mn. Kazakhstan is one of the largest investors of Kyrgyzstan. We have injected over $1bn in Kyrgyz economy,» the Head of State said at the 5th meeting of the Supreme Interstate Council in Bishkek.

According to the Kazakh Leader, as many as 2,000 joint enterprises are operating in Kyrgyzstan to date.

«Kazakhstani side invests in mining, processing, construction, trade, banking and telecommunications sectors of Kazakhstan. Our investors are actively involved in social life of the regions of Kyrgyzstan, they create new jobs, promote the inflow of finances and technologies. We hope that the Government of Kyrgyzstan will continue assisting the Kazakh investors,» said Tokayev.

«More than 1,000 Kazakh-Kyrgyz joint companies are working in Kazakhstan now. They hugely contribute to the development of our economy. The cooperation between near-border regions demonstrates good dynamics. About 50% of the bilateral trade falls on near-border regions. All of these achievements confirm again special status of cooperation between our countries,» he added.