Chinese, Kyrgyz trade turnover hits $2B in 2018
By Abdul Kerimkhanov
The volume of trade between China and Kyrgyzstan amounted to more than $ 2 billion in 2018, said the head of the department of statistics and trade of the National Statistics Committee Venera Mambetaliyeva at a press conference on February 12.
She noted that of these, $ 1.9 billion accounted for imports, and $ 61.2 million for exports. She added that the volume of imports increased by 30 percent, exports decreased by 38 percent compared to 2017.
As she said, ore and precious metals concentrate, cotton, raw wool, and animal skin are exported to China from Kyrgyzstan.
“Kyrgyzstan exported honey for $ 776,000 in 2018, which increased by 6 percent compared with 2017,” Mambetalieva concluded.
Diplomatic relations between China and Kyrgyzstan were established in 1992.
China has significantly expanded its economic ties with Kyrgyzstan and in general with Central Asia since this country and the region play a key role in the implementation of ‘‘One Belt, One Way’’.
The authorities of China invested finances in the reconstruction of major highways, the construction of hydropower plants and the construction of gas pipelines in Kyrgyzstan.
Kyrgyzstan and China concluded more than 200 various bilateral agreements and arrangements at different levels. The sphere of joint economic interests is wide enough and concerns both the development of infrastructure projects and enterprises, as well as import and export trade.
More than 35,000 Chinese citizens entered Kyrgyzstan in 2018, and a year before - 41,000 Chinese.
The total amount of Chinese investments in state projects of Kyrgyzstan amounted to $ 2.2 billion, which were aimed at improving the road infrastructure and energy sector.
There are 397 Chinese and 170 Kyrgyz-Chinese joint ventures in Kyrgyzstan.
Tax revenues from large enterprises with Chinese investments in 2018 amounted to 3.8 billion soms ($54.4 million).
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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