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Astana, Kazakhstan • 18 April, 2024 | 11:33

Kazakh, Kyrgyz Businesses Sign Project Agreements Worth $300 Million

On April 17, entrepreneurs from Kazakhstan and the Kyrgyz Republic attended the business forum at the AIFC in Astana

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Ministry of Trade and Integration
Ministry of Trade and Integration

Kazakh and Kyrgyz businesses signed commercial documents consolidating their intentions to implement projects totaling $300 million, QazMonitor reports citing the press service of the Ministry of Trade and Integration.

Forum: On April 17, entrepreneurs from Kazakhstan and the Kyrgyz Republic attended the Kazakh-Kyrgyz business forum organized by QazTrade JSC and the Ministry of Trade and Integration in Astana. The forum was attended by companies engaged in mechanical engineering, manufacturing, metallurgy, construction, logistics, agriculture, pharmaceuticals, investment, and services. Deputy Prime Ministers of Kazakhstan and the Kyrgyz Republic Serik Zhumangarin and Adylbek Kasymaliev attended the opening of the event.

Projects: Business circles of the two countries signed documents consolidating their intentions to implement projects for the construction of solar power plants, a ferroalloy plant, a distribution center on the territory of the Kyrgyz Republic, supplies of agricultural products, and others, totaling $300 million.

Ministry of Trade and Integration
Ministry of Trade and Integration
Ministry of Trade and Intergration
Ministry of Trade and Intergration

Memorandums: The Kyrgyz National Investments Agency reported that the parties signed 9 memorandums in construction, tourism, innovation, agriculture, and other fields.

  • Memorandum between the National Investment Agency under the President of the Kyrgyz Republic and the company “TGS-Energy Limited” on the implementation of a project for the construction of solar power plants with a total capacity of 250 MW on the territory of the Kyrgyz Republic.

  • Memorandum of interest in the implementation of the project for the construction of a ferroalloy plant in the city of Tash-Kömür for the implementation of the project for the construction of a ferroalloy plant on the territory of the Kyrgyz Republic.

  • Memorandum of understanding between the National Investment Agency under the President of the Kyrgyz Republic and National Company Kazakh Invest JSC.

  • Memorandum between the National Investment Agency under the President of the Kyrgyz Republic and Visor Kazakhstan LLP. Implementation of a project for the construction of a distribution center with an area of up to 35,000 square meters on the territory of the Kyrgyz Republic.

  • Memorandum of cooperation between the Center for Public-Private Partnership under the National Investment Agency under the President of the Kyrgyz Republic and Sergek Group on the implementation of projects in the field of ensuring road safety, improving the efficiency of urban infrastructure management, and the introduction of innovative technologies.

  • Memorandum between Dan Agro Products LLC and Harman NK LLP (Harman NK) on the supply of grain products.

  • Memorandum of cooperation on the development of international trade relations between Alaiku Organics LLC (Kyrgyz Republic) and FreeMark LLP (Kazakhstan).

  • Memorandum of understanding and cooperation between the OJSC “Tourism Development Support Fund in the Kyrgyz Republic” and the JSC “National Company “Kazakh Tourism”.

  • Memorandum between Dogal Agrochemicals and Pesticides LLC and DALA-FRUIT.KZ LLP.

Big picture: At the end of 2023, trade turnover between Kazakhstan and Kyrgyzstan increased by 26% y/y, reaching $1.6 billion. The share of Kazakh exports reached nearly 69%, or $1.1 billion — an increase of 35.8% y/y. Imports grew by 9% totaling $495.2 million.

According to QazTrade, Kazakhstan mainly sends raw and semi-processed gold, mineral and carbonated water, tobacco products, coal, cars, electricity, petroleum products, cement, meat and poultry by-products to the neighboring country. Imports from the Kyrgyz Republic comprise minerals and concentrates of precious metals, unalloyed steel rods, hot rolled steel, carbonates, plastic containers, bread and flour confectionery products, and ceramic tiles.

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