Sunday, 21 July 2019 03:47 GMT

Kyrgyzstan approves export development program for 2019-2022

(MENAFN - AzerNews) By Abdul Kerimkhanov

The Export Development Program of Kyrgyzstan for 2019-2022 has been approved, press service of Kyrgyz Government reported on December 21.

'In order to increase the export potential of the country and the competitiveness of domestic products on the world market, the Government of Kyrgyzstan on December 20, 2018, No. 596 approved the Program of the Kyrgyz Republic Government on export development of Kyrgyzstan for 2019-2022, as well as an Action Plan for its implementation,reads the message.

As noted, the Program is focused on taking measures to increase the volume of exports of sectors with the largest export potential: the clothing industry, processed fruits and vegetables, the dairy industry, and the green and innovative instrument-making industry. The program also includes three cross-sectoral areas - access to finance, export promotion and quality infrastructure.

It is expected that the implementation of the Program will contribute to the growth of exports by 2 times by 2023 through the diversification of sales markets and the development of competitive industries integrated into the regional and global value chains.

In general, the successful implementation of the Program will have a positive effect on the economic growth of the country (GDP growth, investment inflow into the country), increase in employment (creation of jobs), improvement of the balance of payments (capital inflow into the country, improvement of the trade balance of the country).

'The work planned as part of the implementation of the Program's activities will be carried out by ministries and departments of the Kyrgyz Republic within the limits of funds provided for their current activities, as well as by attracting additional budget funds and technical assistance from donor organizations, the report summarizes.

The main sectors of the economy of the Kyrgyz Republic are agriculture, industry, construction, trade, services, tourism, transport and communications.

Kyrgyzstan can be characterized more as an agrarian country since more than half of the population is employed in this sector. Despite the decline in the global economy it continues to develop dynamically and produce volumes.

The main foreign trade partners of Kyrgyzstan are Russia and Kazakhstan. They account for more than a third of the total foreign trade turnover.

In January-September 2018, Kyrgyz GDP amounted to 368.4 billion soms ($5.36 billion), this is 1.2 percent more than in 2017.

The largest share in the structure of GDP accounted for the service industries - more than 45 percent. The share of industry - about 19 percent, agriculture - 13.5 percent, construction - about 7 percent.


Abdul Kerimkhanov is AzerNews' staff journalist, follow him on Twitter:

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    Kyrgyzstan approves export development program for 2019-2022

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