Azernews.Az

By Fatma Babayeva

A Russian-Kyrgyz intergovernmental agreement on supply of oil and oil products was signed during Russian Prime Minister’s official visit to Kyrgyzstan.

The document was inked by Russian PM Dmitry Medvedev and Kyrgyz PM Sooronbay Jeenbekov at the Ala-Archa state residence of Kyrgyzstan on June 6, reported RIA Novosti.

The agreement provides the continuation of the two countries’ cooperation on hydrocarbon supplies.

Currently, Kyrgyzstan acquires Russian oil and oil products on a duty-free basis.

Document states that each year until 31 December, the competent authorities of two sides agree on the volume and list of Kyrgyzstan’s domestic demand for oil and oil products for the next year and confirm indicative balance according to this.

By 1 November of the each year, the Kyrgyz side submits information to the Russian Federation on the fulfillment of the indicative balance for 9 months of the ongoing year, as well as, estimates on supply for the formation of the indicative balance of the next year.

In addition, an agreement on cooperation in the social and labor sphere was concluded between the Kyrgyz Ministry of Labor and Social Development and Russian Ministry of Labor and Social Protection in the presence of the heads of governments.

Moreover, the program on cooperation in foreign policy between state agencies of two countries was clinched. Foreign Ministries of Russia and Kyrgyzstan will continue revising bilateral legal base, according to the program.

An issue about Kyrgyz students’ furthering education in diplomatic universities of Russia was also addressed.

Kyrgyz and Russian governments also signed a memorandum of understanding (MoU) between the State Service of Intellectual Property and Innovation under the Government of Kyrgyz Republic and the Russian Federal Service for Intellectual Property.

Russia is among top export destinations and top import sources for Kyrgyzstan. Oil and petroleum products compose 51.9 percent of Kyrgyz imports from Russia.

Generally, Kyrgyz economy is highly dependent on Russia and easily affected by the developments in the Russian economy.

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Fatma Babayeva is AzerNews’ staff journalist, follow her on Twitter: @Fatma_Babayeva

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