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Home Kazakhstan

Commodity turnover between Kazakhstan and Kyrgyzstan may reach USD 5 bln; expert

WNAM: by WNAM:
April 17, 2024
in Kazakhstan
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Commodity turnover between Kazakhstan and Kyrgyzstan may reach USD 5 bln; expert
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(WNAM Monitoring); Sales between Kazakhstan and Kyrgyzstan have huge potential and may ramp up dramatically. Signing an agreement on deepening and widening allied relations between the two countries will contribute to the development of sales and strengthen counteraction to transborder challenges, Kazinform News Agency reports quoting academician of the National Academy of Sciences of Kyrgyzstan Dzhamin Akimaliyev.

He said Kyrgyzstan and Kazakhstan are the nearest neighbors which share common past and cultural traditions. The countries in a short period established friendly relations with neighboring countries that positively impacted the stability of our region. However, he stressed the current level of socioeconomic relations is far from the countries’ potential.

In 2023 Kyrgyzstan’s foreign trade turnover made 15.6 billion US dollars of which 1.3 billion US dollars or 8.3% fell on Kazakhstan. The total trade turnover of EAEU nations including Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia is expected to surpass 100 billion US dollars in 2003.

In his opinion, Kazakhstan and Kyrgyzstan have great potential and may reach 5 billion US dollars as the countries may sell agricultural, industrial, and construction products, precious metals concentrates, etc. To achieve these ambitious tasks, we have to do anything to keep the borders of the two fraternal countries always open and transparent for the free movement of people and financial resources, goods and services, he said.

Dzhamin Akimaliyev said the signing of the agreement on deepening and widening of allied relations soon will help solve transborder policy issues to efficiently counteract transborder challenges, threats, and risks and strengthen cooperation in the protection of the Kazakh-Kyrgyz border. When the countries sign the agreement, they will become full-fledged members of the agreement aimed at creating an integrated economic space.

Kazakhstan-Kyrgyzstan partnership is built on the principles of indisputable preservation of state sovereignty and territorial integrity and fulfillment of international commitments. Such an agreement would serve the interests of our fraternal countries, he concluded.

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