Kyrgyzstan's economic week, May 15-20

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A delegation of Kyrgyzstan, which took part this week in the Belt and Road Forum for International Cooperation in Beijing, signed two documents in economic sphere. The first one is the Program of Cooperation to Promote the Development of Small and Medium-sized Business between the Ministry of Economy of the Kyrgyz Republic and the Ministry of Commerce of China. The second one is the Memorandum of Understanding between the Ministry of Economy of the Kyrgyz Republic and the State Committee for Development and Reform of China on strengthening industrial potential and investment cooperation. The agreements are quite significant for both countries. China has been one of the main trade and investment partners of Kyrgyzstan for many years, and ranked the first in the overall commodity turnover in 2016. In 2015, the foreign trade turnover between the two countries amounted to 1.5 billion US dollars and increased by 45.5%, exports amounted to - 80.1 million dollars (an increase - 2.2 times), imports - 1468.4 Million dollars ( increase - 42.7%).

China is striving to show its intentions to expand ties with the countries of Central Asia. Urumqi, Xinjiang Uygur Autonomous Region hosted last week a mini forum "The Silk Road Economic Belt", organized specifically for media representatives of the countries located along the Silk Road. The journalists invited from the countries of the region and CIS got acquainted with the modern culture, life and way of life of the local population. They were demonstrated the successes in the social and economic development of Western China, bordering with Central Asia. Taking into account the growing relevance of transport communications, the guests were shown the work of China Railway Construction Corporation. The company was founded in 2007 and is an enterprise specializing in research, design, manufacture and maintenance of underground equipment and track facilities.

Besides, President of Kyrgyzstan held a conversation in Beijing with representatives of XUAR on the construction of a railway line that would connect the three countries directly - China, Kyrgyzstan and Uzbekistan. The importance of this project is growing in connection with the new economic course of Uzbekistan.

One of the EU countries, historically close in relations with Kyrgyzstan, the Czech Republic expressed interest in localizing production in Kyrgyzstan. This became known during the meeting of Deputy Minister of Economy of the Kyrgyz Republic Daniyar Imanaliev with Deputy Minister of Industry and Trade of the Czech Republic Eduard Murzhicki. The meeting was held in the framework of the Kyrgyz-Czech Business Forum in Prague. There the sides discussed the current status of bilateral cooperation, the opportunities for their expansion and activation in such areas as trade, industry, agriculture, etc. Kyrgyzstan is interested in improving the skills of its businessmen, in sharing experience, and in getting to know the best practices of Czech companies for establishing further cooperation.

Kyrgyzstan expressed its readiness for cooperation with the Chinese company ZTE and Shenzhen Airlines. Consul General of Kyrgyzstan in Guangzhou Maksat Tentimishov in Shenzhen met with Jie Yongjun, deputy director of the International Marketing Department of ZTE and Li Jiaxiang, general finance director of Shenzhen Airlines. The purpose of the meeting with the marketing company ZTE was to discuss the issues of attracting capital and technologies of this company in economic and social projects in Kyrgyzstan. The Chinese were told about the feasibility of implementing an economically promising project - the creation of a modern technological park in the Kyrgyz Republic that will specialize in introducing the newest information, communication and innovative technologies in the republic.

In addition, Tentimishov held talks with general finance director of Shenzhen Airlines Li Jiaxiang, one of the key topics of which was the opening of a new flight Bishkek-Shenzhen / Guangzhou. At present, apart from the Bishkek-Urumqi flight, there are no flights to China from Bishkek, and the implementation of such an innovation will greatly facilitate the life of Kyrgyz entrepreneurs who are related with Guangzhou.

The sides discussed the acquisition by the Shenzhen Airlines of 49% shares of Kyrgyzstan Airlines, the state company and the creation of a joint venture on its basis. It is expected that in case of acquisition of shares of the Kyrgyz airline, the created joint venture will be able to obtain the fifth degree of freedom of flights. The Consul General said that entering the market of Kyrgyz air carriers will allow Shenzhen Airlines to expand the range of flights to other countries.

Investment opportunities of the country were presented this week in India by the Kyrgyz Embassy. A country presentation was made at the Women's Economic Forum in New Delhi. The main focus was on demonstrating the tourist and economic opportunities of Kyrgyzstan.

Ambassador of Kyrgyzstan to India Samara Adamkulova emphasized at the meeting the task of the Embassy to promote the economic potential of the country. The Indian side was interested in the potential of cooperation in education, health, energy, tourism, the role of women in Kyrgyzstan in the socio-political, social and economic life of the country. The forum became a platform for the presentation of the current development of the economy and tourism in the Kyrgyz Republic, as well as for the exchange of experience on the development of women's entrepreneurship.

The World Trade Organization gave this week an opportunity for the Kyrgyz government officials to familiarize themselves with the use of their tariff database. This opportunity was presented in the framework of the National Workshop on Lists of Assignments and Obligations in the Trade in Goods, Tariffs and Changes in Tariff Assignments within the WTO. It was organized by the Ministry of Economy of the Kyrgyz Republic jointly with the WTO, with the technical assistance of the partners for the development of the German Society for International Cooperation and (GIZ) and the Trade Logistics Project in Central Asia (IFC WBG). The experts of the WTO Secretariat who arrived in Bishkek trained state officials to use the WTO database on tariffs.

At the end of the week, the news came that the UN allocated $ 221 million to Kyrgyzstan to implement the five-year program of the United Nations Development Assistance Framework (UNDAF) for 2018-2022. United Nations Resident Representative in Kyrgyzstan Alexander Avanesov said that the practice shows that if we do not triple, at least we double that amount. For example, in 2005-2010, we have been allocated 65 million dollars as a grant resources and the next time in this five-year period it was already 221 million dollars. And we will try to increase this figure."

Prime Minister of the Kyrgyz Republic Sorronbai Zheenbekov and the United Nations Permanent Representative in the Kyrgyz Republic Aleksander Avanesov signed the Framework for rendering assistance to Kyrgyzstan in the development by the UN Agencies for 2018-2022.

Kabar News Agency

May 19, 2017


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