During talks in Bishkek between the Ministers of Foreign Affairs of Kazakhstan and the Kyrgyz Republic, Murat Nurtleu and Jeenbek Kulubaev, the Kazakh side announced its intention to invest $70 million in the Kyrgyz economy in 2024, QazMonitor reports citing the Kabar news agency.
Nurtleu highlighted successful investment cases, such as the development of the Bozumchak open-pit copper and gold mine in the Kyrgyz Republic by KAZ Minerals — one of Kazakhstan’s copper producers. Kazakhstan is also investing in the construction of a 50 MW solar power plant in the Issyk-Kul region.
It is worth noting that last year, Kazakhstan was one of the active investors in the Kyrgyz economy. Direct capital investments from the Kazakh side amounted to $55 million. Today, the total volume of investments in the Kyrgyz economy exceeds $1.3 billion. We are Kyrgyzstan's third-largest trade partner.
In this context, he emphasized that the Kyrgyz Republic is one of Kazakhstan’s major trading partners within the Commonwealth of Independent States and the Eurasian Economic Union.
"We see good prospects in this direction and are ready to increase our exports by another $260 million with about 200 commodity items that Kazakhstan can offer to the Kyrgyz side. There is good potential in food, industrial, petrochemical, construction, pharmaceutical, and other industries," concluded Nurtleu.