Kazakhstan and Kyrgyz Republic Forge Stronger Bonds Through New Ventures
Kazakhstan and the Kyrgyz Republic Strengthen Trade and Economic Ties
In a significant development, Kazakhstan and the Kyrgyz Republic have intensified their trade and economic relations, with bilateral trade reaching $1.6 billion in the period of January to November 2024. This important milestone was discussed during a meeting between Kazakh Prime Minister Olzhas Bektenov and Kyrgyz Chairman of the Cabinet of Ministers and Head of the Presidential Administration Adylbek Kasymaliev on Jan. 30 in Almaty.
The meeting, as reported by the Prime Minister’s press service, covered various topics including industrial cooperation, agro-industrial partnerships, water management, and logistics. Kazakhstan has expressed its dedication to boosting exports in 175 product categories, with a targeted increase of over $203 million. Key sectors for expansion include petrochemicals, food processing, metallurgy, mechanical engineering, and pharmaceuticals.
Agriculture plays a significant role in bilateral trade, representing 20% of the total, with a 5.5% increase reaching $313.6 million in the reporting period. Kazakhstan notably exported 40,400 tons of grain and 53,200 tons of flour to the Kyrgyz Republic.
Investment cooperation was also a major focus, with plans for the construction of a ferroalloy plant in Tash-Kömür expected to enhance industrial collaboration between the two nations. The turnover of industrial goods in 2024 reached $985.5 million, with Kazakhstan’s exports showing a growth of 13.5%.
Progress was also noted in the water and energy sectors, with discussions on efficient water management in the Shu and Talas river basins during the non-growing season. The transport sector experienced a boost, with export-import road transport volume increasing by 16% to 1.7 million tons in 2024. Measures were discussed to improve border capacity and enhance the region’s transit potential.
In conclusion, both diplomats reiterated their commitment to strengthening trade and economic ties, signaling a promising future for bilateral relations between Kazakhstan and the Kyrgyz Republic.
