From January to September 2024, Azerbaijan increased its investment in Kyrgyzstan’s economy more than tenfold compared to the same period in 2023.
According to data from the National Statistical Committee of Kyrgyzstan, Azerbaijani investments amounted to $29.8 million. The majority of these funds were directed toward financial intermediation and insurance, as reported by Eurasiatoday.ru.
This sharp increase reflects the expansion of economic cooperation between the two countries and the strengthening of bilateral ties in strategically important sectors.
Total Foreign Investment Inflow to Kyrgyzstan
Overall, during the reporting period, direct foreign investment inflows from CIS countries increased 1.4 times compared to January–September 2023, reaching $290.2 million.
The largest investment came from Russia ($192.8 million), directed into sectors such as:
- Manufacturing
- Wholesale and retail trade
- Financial intermediation and insurance
- Electricity, gas, and steam supply
Uzbekistan also significantly increased its investments, contributing $16.7 million, mainly focusing on financial intermediation and insurance.
Azerbaijan-Kyrgyzstan Trade: Key Directions
Azerbaijan and Kyrgyzstan maintain active trade cooperation. The main export and import directions include:
Azerbaijan’s Exports to Kyrgyzstan:
- Petroleum products and chemical goods
- Food products (including fruits and vegetables)
- Building materials (cement, bitumen)
- Textiles and light industry products
Azerbaijan’s Imports from Kyrgyzstan:
- Agricultural products (meat, dairy, grains)
- Processed metal products
- Pharmaceuticals and medical equipment
As of 2024, trade turnover between the two countries has shown steady growth, amounting to approximately $35 million. However, to further boost trade flows, improvements in logistics infrastructure and tariff reductions are necessary.
Expanding Azerbaijani Investments in Kyrgyzstan
According to various sources, Azerbaijan’s investments in Kyrgyzstan have been growing in recent years, covering not only the financial sector but also:
- Infrastructure projects: Azerbaijani companies are involved in the construction of roads, bridges, and other transportation infrastructure.
- Energy: Investments in renewable energy projects and the modernization of Kyrgyzstan’s energy system.
- Tourism: Development of tourism infrastructure, including hotel construction and improvements in regional tourism facilities.
Significance of Economic Cooperation Between Azerbaijan and Kyrgyzstan
The expansion of trade and investment ties between Azerbaijan and Kyrgyzstan contributes to the economic growth of both countries. Investments help create new jobs, develop infrastructure, and drive technological progress.
In the future, further cooperation is expected within bilateral and regional projects.
CentralasianLIGHT.org
January 16, 2025