Tuesday, 02 January 2024 12:17 GMT

Kyrgyz-Russian Trade Surpasses $4B, Kremlin Highlights Growing Investments


(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, November 26. Russia and Kyrgyzstan confirmed plans to expand economic cooperation following talks between President Vladimir Putin and President Sadyr Zhaparov at the Yntymak Ordo government residence in Kyrgyzstan, Trend reports via the Kremlin.

Putin highlighted that Russia remains Kyrgyzstan's leading trade partner, mentioning that their business dealings hit a home run at $4.1 billion last year, showing a healthy 13.6 percent uptick, with an additional 17 percent growth recorded from January through September of this year. He added that Russian investment in the Kyrgyz economy has nearly reached $2 billion, with around 1,700 joint enterprises operating in the country.

“Such confidence on the part of Russian investors is due to your efforts and the positive dynamics of domestic policy,” Putin stated.

The leaders discussed expanding cooperation in energy, including natural gas supplies and potential collaboration in nuclear, solar, and wind power. They also touched on digital economy development as well as transport and logistics initiatives.

Putin noted that about 97 percent of mutual payments are now carried out in national currencies, and both sides are exploring new mechanisms for settlements.

The presidents reviewed preparations for signing a package of intergovernmental agreements in trade, economic cooperation, education, and migration. Additionally, they noted progress on joint cultural and educational projects, including the construction of Russian-language schools in Kyrgyzstan.

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Trend News Agency

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