Kyrgyzstan and Kazakhstan are negotiating an agreement that would provide for duty-free oil supplies to Kyrgyzstan. The issue was discussed during an official meeting between Kyrgyzstan's Chairman of the Cabinet of Ministers, Adylbek Kasymaliev, and Kazakhstan’s Prime Minister, Olzhas Bektenov, in Astana, reports Akchabar.kg.
According to Adylbek Kasymaliev, reaching an agreement on duty-free oil supplies to Kyrgyzstan is an important step in ensuring energy stability and reducing fuel costs for Kyrgyz consumers.
He also touched on several other pressing issues.
"The construction of an industrial trade and logistics complex on the border of our countries will optimize cargo transportation processes, reduce business costs, and improve the efficiency of bilateral trade. The establishment of a ferroalloy plant in Tash-Kumyr will open new opportunities for industrial cooperation, increase production volumes, and expand the export of high-value-added products. Creating a trade and logistics warehouse for storing fruits and vegetables in the Almaty region will ensure uninterrupted fresh produce supplies, enhance trade turnover, and improve food security in our countries," said the head of Kyrgyzstan’s Cabinet of Ministers.
He added that the successful implementation of these initiatives would further strengthen economic cooperation, create new jobs, and attract investments into the economies of both countries.
For his part, Kazakhstan’s Prime Minister Olzhas Bektenov expressed support for these initiatives and noted that Kazakhstan is ready to continue working on developing trade and economic relations with Kyrgyzstan. He emphasized that bilateral trade between the two countries has been steadily growing, reaching $1.7 billion in 2024. The Kazakh side intends to intensify efforts to further expand economic cooperation.
During the meeting, both sides expressed their intention to double mutual trade volume by 2030. Kazakhstan remains one of Kyrgyzstan’s key trade partners, demonstrating stable trade growth, Kasymaliev noted.
At the end of last year, bilateral trade between the two countries reached $1.34 billion. Kasymaliev highlighted that these figures reflect a positive trend in bilateral relations.
"These numbers give us a sense of optimism, especially in the context of the goal set by our heads of state - to increase trade turnover to $3 billion by 2030. Additionally, in the first nine months of 2024, Kazakh companies invested nearly $49 million in Kyrgyzstan’s economy," he said.
CentralasianLIGHT.org
February 25, 2025