Kyrgyzstan’s export increased by 5.1% in 2016, including to Europe by 44.3%

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Bishkek, Feb. 24 / Kabar /. Exports in 2016 increased by 5.1%, including to Europe by 44.3%, Prime Minister of the Kyrgyz Republic Sooronbay Zheenbekov told at the ceremony of awarding the winners of the National Award "Best Exporter of the Kyrgyz Republic" on the results of 2016, the governmental press service reports.

"Export takes a crucial role in economic development and is one of the main factors of growth. To support and develop the export potential the Government of the Kyrgyz Republic approved the export development program for 2015-2017. Within the program it is planned to launch a project on financing export-oriented enterprises, providing for the allocation of budget funds to subsidize interest rates on concessional lending of export-oriented companies. The final interest rate for exporters would be significantly lower than the commercial - 10% per annum," the Prime Minister said.

Zheenbekov stressed that Kyrgyzstan has the most favorable conditions for tax exemptions for exporters, the fundamental condition - the zero tax rate on sales.

"These circumstances provide a competitive advantage to domestic exporters. To improve access to information about the export potential and export opportunities a trade portal will be created, information campaigns be conducted. However, it is necessary to continue systematic work to improve the quality level of production management in order to bring them to the level of international quality standards. Since August 12, 2017 EEU technical regulations on food safety shall come into force. Exporters need to be prepared for the new requirements of the standards and quality control," the Prime Minister said.

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