The Deputy Prime Minister took part in the 6th Kyrgyz-Russian Economic Forum
Alexei Overchuk takes part in the 6th Kyrgyz-Russian Economic Forum
Alexei Overchuk takes part in the 6th Kyrgyz-Russian Economic Forum
Alexei Overchuk takes part in the 6th Kyrgyz-Russian Economic Forum
An interdepartmental delegation led by Deputy Prime Minister Alexei Overchuk on a working trip to Cholpon-Ata, Kyrgyz Republic.
During the visit, Alexei Overchuk took part in the 6th Kyrgyz-Russian Economic Forum.
Excerpts from the transcript:
Alexei Overchuk: First, I would like to extend my gratitude to the Kyrgyz side and the Russian-Kyrgyz Development Fund for the warm welcome extended to the Russian delegation here by the shores of Lake Issyk-Kul and for organising the 6th Kyrgyz-Russian Economic Forum. Just this past July, Akylbek Japarov and I met in Krasnoyarsk for the annual interregional conference. This platform unites representatives from government bodies, regional authorities, the business community, and expert circles. The regularity of these broad-format meetings underscores the high demand for such contacts and reflects the strong ties between our countries, demonstrating our close relationship.
The Kyrgyz-Russian Economic Forum is a unique platform for advancing mutually beneficial trade and economic relations between Russia and Kyrgyzstan. It serves as a dynamic tool for interaction, complementing high-level political contacts and other cooperation mechanisms effectively.
Trade and economic cooperation between Russia and Kyrgyzstan continues to grow steadily. Kyrgyzstan remains a reliable ally and strategic partner of Russia.
The membership of our countries in the Eurasian Economic Union has positively impacted the economic situation. Over the nine years since Kyrgyzstan joined the EAEU, the country’s GDP has tripled, its investment attractiveness has improved, and consequently, tax revenues to the state budget have increased, supporting further socio-economic development of the country. In 2023, Russia emerged as one of Kyrgyzstan’s leading trading partners, with an 18.7 percent share of trade. This positive trend has continued into the current year, with trade turnover rising by 11.2 percent in the first half of 2024 compared to the same period last year. Additionally, the Russian Federation remains one of the largest investors in Kyrgyzstan’s economy.
It is necessary to note the role of the Russian-Kyrgyz Development Fund, which held a board meeting the day before and approved the financing for a number of important projects, including in energy, solar energy, and industry in Kyrgyzstan.
It is planned to sign bilateral documents and contracts worth about 22.6 billion roubles in total following the forum.
This volume of investments attracted shows that the investment climate in the country is improving.
On the other hand, investors always want a better business climate, guarantees, and protection of their investments.
Colleagues, I would like to call the two countries’ business community to step up in working on the agenda of our bilateral cooperation and focus on the following main points.
Firstly, we see good prospects in developing cooperation in the sphere of renewable energy sources, microelectronics, and automotive industry. Renewable energy is already becoming one of the promising areas of Russian-Kyrgyz cooperation as the foundation for the sustainability of national economies and further low-emission development, which is necessary in today’s conditions to increase the competitiveness of the country’s economy.
Secondly, our relations’ enormous potential lies in stepping up tourist exchanges. Please also note this. I would like to call on the business community to develop joint tourist projects, using the rich natural opportunities our countries. Lake Issyk-Kul, where we are now, is a striking example of how these opportunities can be developed.
Thirdly, it is necessary to create favourable conditions to implement joint cooperation projects within the EAEU. In order to do this, we would like to ask the business community to actively use the mechanisms they use to finance them in order to develop the two countries’ priority industry sectors. Please take a close look at the mechanisms of financial support for cooperation projects in which three or more EAEU countries can participate. This mechanism has been created and is starting to work.
Fourthly, it is necessary to use the support instruments and institutes that we have, including within the Russian-Kyrgyz Development Fund. Please step up your cooperation with the Russian Export Centre, as well as using other mechanisms to promote bilateral cooperation.
Fifthly, it is necessary to get more involved in the work of bilateral dialogue platforms, such as this forum, the Russian-Kyrgyz Interregional Conference and other events, where you can receive practical assistance and establish new business contacts. Please enjoy the most of the opportunities that such meetings provide.
We will always support the development of trade and economic ties between our countries and nations and promote them, too, because our relations have withstood the test of time and practical deeds.
I believe that today’s event will be a success and help further develop cooperation between the two countries. I wish all the forum participants successful and productive work.
