(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 20. Kyrgyzstan has
potential of exporting over 6,000 goods duty-free or at very low
tariffs to the European Union as a beneficiary of the EU's
Generalized Scheme of Preferences (GSP+), the source at European
Commission (EC) told trend .
"GSP+ countries benefit from complete duty suspensions for
approximately 66 percent of all products and tariff lines,
including sensitive products," the source noted.
According to the EC, Kyrgyzstan is mostly exporting raw
materials and agricultural products to the EU at the moment. The
main European importers of Kyrgyz goods are Lithuania with imports
worth 47 million euro in 2022, Germany (imports for 24 million
euro), Poland (16 million euro), Slovakia (13 million euro) and
Latvia (11 million euro).
"The European Union is an open market, where goods are imported
based on competitive advantages such as quality and price. From
that point of view, there is potential for Kyrgyzstan to become
more competitive and increase its exports to the EU, which is the
world's largest trading block," the source said.
According to the source, trade turnover between Kyrgyzstan and
the EU member states amounted to 1.3 billion euro in 2022, which is
an increase of 3.9 times over 337.2 million euro in 2021.
The EU exported to Kyrgyzstan goods for 1.1 billion euro last
year, and imported for 147.1 million euro.
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