(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 4. The top category
of goods exported from the EU to Kyrgyzstan in 2022 was transport
equipment, accounting for 32 percent of the EU's total exports, a
source at the press office of the European Commission (EC) told
Trend .
Following closely behind were machinery at 31 percent and
chemicals at 12 percent of the total exports, according to the same
source.
On the other side, the EU's imports from Kyrgyzstan primarily
comprised minerals, making up 36.7 percent of the total, and
precious metals, accounting for 34.7 percent.
The EC source mentioned that trade between the EU and Kyrgyzstan
surged by 291 percent in 2022, reaching a total of 1.319 billion
euros. This positioned the EU as Kyrgyzstan's fifth-largest trading
partner, contributing 5.1 percent to the country's external
trade.
Regarding investments, the stock of EU foreign direct investment
(FDI) in Kyrgyzstan saw a slight increase of 2.3 percent, reaching
18.1 billion euros in 2021, based on the most recent data provided
by the EC.
Speaking about bilateral cooperation, the press service
mentioned the EU-Kyrgyzstan Partnership and Cooperation Agreement
(PCA), which has been in effect since 1999, aimed at strengthening
the ties between Kyrgyzstan and the EU.
Additionally, negotiations for an Enhanced Partnership and
Cooperation Agreement (EPCA) were concluded in 2019 and are now
awaiting signature.
Among the benefits of cooperation between Kyrgyzstan and the EU,
Kyrgyzstan enjoys the advantages of the GSP+ scheme, the source
said.
The EU's GSP+ program is designed to offer import duty
exemptions for specific products imported into the EU from
developing nations. To qualify for GSP+, a country must adhere to
several international conventions related to human rights,
environmental protection, and responsible governance. Kyrgyzstan
has enjoyed GSP+ status since 2016, which grants it complete relief
from customs duties on over 6,000 different product categories in
the EU, covering a wide range of goods.
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