Kazakhstan, Kyrgyzstan see 13% trade growth from Jan-July to $757 mln

ASTANA. Sept 25 (Interfax) - Trade between Kazakhstan and Kyrgyzstan grew by 13% in the first seven months of this year, reaching $757 million. Both countries plan to boost it to $2 billion annually through joint projects, the Kazakh Prime minister's press service said following a meeting of the Kazakh-Kyrgyz intergovernmental council.

Kyrgyz Prime Minister Akylbek Japarov and Kazakh Prime Minister Alikhan Smailov met during the 11th meeting of their Intergovernmental Council in Taraz.

Smailov highlighted that their strategic partnership has been accelerating dynamically.

Trade turnover has been increasing steadily. "In 2022, it reached $1.3 billion, a 19% increase. This year, trade turnover increased by 13% to $757 million in seven months," he said.

Smailov highlighted that cooperation is also flourishing in transit, transport, communication, tourism, industrial cooperation, agriculture, and digitalization.

The acceleration of several important joint projects, notably "the establishment of an Industrial Trade and Logistics Complex in border areas will facilitate new cooperative ventures and contribute to the goal set by the leaders of both countries to increase trade turnover to $2 billion," the press release says.

The heads of the governments of Kazakhstan and Kyrgyzstan stressed the need for an effective mechanism for monitoring water resources, taking into account the interests of both countries.

"In order to ensure fair and transparent management of water resources, we need an effective monitoring mechanism through the digitalization of interstate water channels. It is crucial to ensure the exchange of hydrological information, especially regarding water inflow to reservoirs and water intake across the entire basin," the Kazakh Prime Minister said.

During recent mutual visits of the heads of the two states, the main areas of bilateral cooperation were outlined, Japarov said.

"Together we would put in maximum effort to advance all their agreements to benefit the two fraternal peoples." Japarov said.

Following the negotiations, both sides confirmed their readiness to maintain active contacts in all mutually beneficial areas of cooperation.