President Sadyr Japarov of the Kyrgyz Republic welcomed Deputy Prime Minister - Minister of Foreign Affairs of Kazakhstan, Murat Nurtleu, on January 29, highlighting the ongoing efforts to strengthen multifaceted cooperation between the two nations, the presidential press service reported. The meeting aimed to address key issues in bilateral relations, with a particular focus on enhancing trade and economic activities.
The leaders explored collaborative approaches to implementing promising projects that would further deepen the ties between Kyrgyzstan and Kazakhstan. President Japarov expressed satisfaction with the current high level of cooperation and emphasized the importance of resolving any outstanding issues between the fraternal nations.
Deputy Prime Minister Nurtleu voiced confidence in President Japarov's economic and institutional development initiatives, believing they would yield positive results for the Kyrgyz Republic. He assured that Kazakhstan closely follows the events in Kyrgyzstan and wholeheartedly supports the strategic direction for planned reforms.
Both parties expressed confidence in the continued progressive and fruitful development of bilateral relations, underscoring the mutual benefit for the fraternal peoples.
Kazakhstan-Kyrgyzstan Economic Relations
Over the years, Kazakhstan's direct investment in the Kyrgyz economy has steadily increased. The economic presence of Kazakhstan is evident in various sectors, including banking, small businesses, and tourism, reflecting a shared culture and traditions between the two nations. In the last five years alone, Kazakhstan has invested approximately $400mn in Kyrgyzstan, establishing itself as the largest investor.
Kazakh investors hold a significant stake, constituting 33% of the total equity in Kyrgyzstan's banks. There are currently around 2,000 functioning enterprises in Kyrgyzstan, with 500 owned by Kazakh entrepreneurs. The economic collaboration between Kazakhstan and Kyrgyzstan is seen as beneficial for both nations, aligning with their common interests. In 2021, the trade turnover between Kazakhstan and Kyrgyzstan reached $680mn, indicating a 9% growth over the first nine months of the year.
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