Kyrgyzstan's economic week, June 19-25

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The budget and finance committee of the Kyrgyz Parliament approved this week the bill "On ratification of the loan agreement between the Kyrgyz Republic and the Saudi Development Fund for the construction of public schools." The agreement was signed on May 17, 2017 in the city of Jeddah.

According to the document, it is planned to build 16 schools in different regions of the country.

The Saudi Development Fund provides 112.5 million Saudi riyals or about 30 million US dollars to finance the project.

This week during the Kyrgyz trade and investment seminar in Tokyo, it became known that a group of Japanese businessmen will visit Kyrgyzstan this summer. The trip will be organized by the Japan Chamber of Commerce and Industry jointly with the Kyrgyz Embassy in Japan, with the participation of JETRO and JICA. About 100 representatives of Japanese companies, who are interested in doing business in the Kyrgyz Republic, attended the seminar.

The solemn ceremony of presenting the certificate of accreditation of standard laboratories of the Center for Standardization and Metrology under the Ministry of Economics of the KR by the German Accreditation Body - the Deutsche Akkreditierungsstelle GmbH (DAkkS) took place at the Ministry of Economy of the Kyrgyz Republic.

Kyrgyzstan, becoming a WTO member in 1998, joined the Agreement on Technical Barriers to Trade (TBT). The main purpose of the Agreement is to minimize technical barriers to trade between WTO member countries.

Harmonization of approaches in the field of technical regulation and metrology is an integral part of this Agreement. Since the day of its accession to the WTO, Kyrgyzstan has been pursuing a policy of harmonizing documents with international requirements.

This week it became known that Kyrgyzstan now has no debts to Russia. During President Atamabyev’s visit to Moscow, Kyrgyz Finance Minister Adylbek Kasymaliev and Russia Anton Siluanov signed a protocol on writing-off of Kyrgyzstan's debt totaling $ 240 million to the Russian Federation.

Kyrgyzstan's debt to Russia since 2012 was $ 488 million. $ 188.9 million were written off in 2013. In 2016-2017, $ 60 million were repaid. And by June 2017, the remaining amount was $ 240 million.

This week President Atambayev signed the Law "On Amendments to the Budget Code of the Kyrgyz Republic". The law introduces amendments to the Budget Code taking into account the interests of the judicial system in the budget process.

The Kyrgyz Parliament approved receiving $ 20 million from the Saudi Development Fund for the implementation of Phase III of the reconstruction of the North-South highway. The construction will begin in autumn of this year. The planned duration of the project is 2 years. The total cost of the project is $ 33.8 million. The project is funded by IDB in the amount of $ 12 million and the Saudi Development Fund in the amount of $ 20 million. The share of Kyrgyzstan's co-financing is $ 1.8 million.

Kabar News Agency

June 25, 2017

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