Kyrgyzstan Business & Economy - The Times Of Central Asia

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Kyrgyzstan to Begin Manufacturing Helicopters

Daiyrbek Orunbekov, Head of the Information Policy Service of the Kyrgyz Presidential Administration, stated on his Facebook page that Kyrgyzstan has begun production on ultralight small-size two-seat helicopters. Describing the helicopter, he wrote: “It is a two-seater, can hold 70 liters of fuel, and flies 600 kilometers in 3 hours; pricing starts at around 60 thousand dollars." He also added that automobile, helicopter, and other manufacturing plants would soon be opening in the country. The production of helicopters in Kyrgyzstan, assembled from components supplies by Poland, is the country's first foray into the market. The helicopters can be used for various tasks, from pilot training and aerial photography to police patrols, power line control, medical personnel transport, and aerial agricultural work, and according to Orunbekov, interest has already been expressed by UAE companies in the test models. The Times of Central Asia previously reported that the German company "Linding Group" plans to invest some 10 million dollars in assembling aircraft in Almaty, Kazakhstan.

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Kyrgyzstan Signs Agreement with Leading Ratings Agencies

The Kyrgyz Ministry of Economy and Commerce has signed an agreement with the ratings agencies S&P (Standard and Poor's) and Fitch. In a statement, the ministry said: "To build the republic's potential in the international arena and to enter international markets, it is necessary to cooperate with the three big international rating agencies: Moody's, S&P, and Fitch." This week, Minister of Economy Daniyar Amangeldiev met with representatives from S&P and Fitch and Oppenheimer Europe Ltd's investment bank. Oppenheimer Europe Ltd. will act as a consultant for work with the rating agencies. The parties discussed the prospects of strengthening cooperation and joint work in assessing credit risks and Kyrgyzstan's investment attractiveness. “The parties expressed readiness to work on actively assigning and improving long-term rating. This will create prerequisites for strengthening the confidence of partners and investors”, the agencies commented. Rating agency representatives informed Kyrgyz officials about the need to assign a credit rating and the stages of entering international capital markets. In 2015, the Ministry of Economy of Kyrgyzstan signed an agreement with rating agencies Moody's and Standard and Poor's, giving the country an international credit rating for the first time. In 2016, the Kyrgyz authorities rejected the services of Standard and Poor's, for unnamed reasons. In May 2024, Moody's raised Kyrgyzstan's credit rating from negative to stable. Contrary to the agency's forecasts, Kyrgyzstan's economy and budget indicators have been virtually unaffected by Western sanctions imposed on Russia, the country's largest trading partner.

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Central Asia Seeks Increase in Trade with China

On September 12, the Central Asia-Jiangsu Trade Center, a multifunctional platform showcasing exports from Kazakhstan, Uzbekistan, Tajikistan, and Turkmenistan, opened in Nanjing, the main city of Jiangsu Province in eastern China. According to the Kazakh Ministry of Trade and Integration, the operation of the Center in Jiangsu Province, known for its developed infrastructure, will facilitate access to the huge Chinese market for all five Central Asian countries. Plans are now in place to launch a similar multifunctional center in Kazakhstan’s capital, Astana, to showcase Chinese and Kazakh goods. Official statistics show continued growth of trade turnover between Kazakhstan and China. During the first seven months of this year, bilateral trade increased by 2.8% compared to the same period in 2023, and amounted to $16.8 billion. Between January and July 2024, trade between Kazakhstan and Jiangsu Province grew by over $1 billion, from $723.3 million to $1.758 billion. As reported by Kazakh Minister of Trade Arman Shakkaliyev, Jiangsu Province currently imports products, mainly from the industrial and agricultural sectors, worth more than $266 billion annually.

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Kara-Suu Crossing Reopens on Kyrgyz-Uzbek Border

On September 12, the Kara-Suu checkpoint was reopened at the border between Kyrgyzstan and Uzbekistan. Located near the town of Kara-Suu in Kyrgyzstan’s southern Osh region, on the border with Uzbekistan’s Andijan region, the Kara-Suu crossing was closed 14 years ago. It has reopened amid the two neighboring states' improved political and economic relations. Speaking at the checkpoint's opening ceremony, Bakyt Torobaev, the Deputy Chairman of Kyrgyzstan’s Cabinet of Ministers, emphasized that its reopening will be beneficial to citizens of both countries. "Previously, many Kyrgyz and Uzbek citizens had to stand in lines at the Dostuk checkpoint to cross the border. The opening of Kara-Suu will solve the problem of queues when crossing the border. The opening of this checkpoint is an important step towards strengthening economic, social, and cultural ties between our countries and increasing tourist flows," Torobaev said. On the same day, the renovated Ken-Sai and Uch-Kurgan border checkpoints were opened between the Jalal-Abad region in Kyrgyzstan and the Namangan region of Uzbekistan. According to official statistics, more than 14 million people crossed the Kyrgyz-Uzbek border in 2023, and in the first eight months of 2024, this figure reached 11 million, 1.5 million more than in the same period last year. In 2023, trade between Kyrgyzstan and Uzbekistan amounted to $693.6 million. In the first seven months of 2024, it reached $428 million, a 6.7% increase compared to the same period in 2023. During a state visit to Uzbekistan back in July, Kyrgyzstan’s President Sadyr Japarov and Uzbek President Shavkat Mirziyoyev focused on measures to increase bilateral trade to $2 billion in the coming years and launch a “green-light corridor” for the transportation of agricultural produce between the two countries.

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Citizens of Tajikistan and Kyrgyzstan Warned Against Non-Essential Travel to Russia

Citizens of Tajikistan and Kyrgyzstan are warned against traveling to Russia, reportedly due to “additional security measures and enhanced border controls” imposed by the Russian government. On September 10, the Tajik embassy in Moscow advised Tajiks “to temporarily refrain from traveling to the Russian Federation unless necessary.” Similar advice was issued by Kyrgyzstan's Ministry of Foreign Affairs the same advice on September 5, in the statement: “In connection with the continuation of additional security measures introduced on the territory of Russia and the regime of enhanced control over the passage of foreign citizens across the state border, the Embassy of the Kyrgyz Republic in the Russian Federation recommends that citizens of the Kyrgyz Republic who do not have compelling reasons for entering the Russian Federation temporarily refrain from traveling to its territory until the above measures are lifted.” Given that remittances sent by Central Asian immigrants are the primary source of financial support for many families, the warning may have serious economic consequences for immigrants working in Russia. For context, this warning is one of many. After the Crocus City Hall terrorist attack, restrictions on the entry of Central Asians into Russia were announced several times. The issue of immigrants remains controversial in Russia. For example, a Russian diplomat recently proposed a temporary moratorium on Russian citizenship for Central Asians, whilst another deputy suggested that the government impose a ban on immigrants.

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Russia to Join Central Asia’s Unified Energy System

Russian Energy Minister Sergey Tsivilev has announced that the Russian and Uzbek energy ministries have agreed to connect the Russian “System Operator” to Central Asia's Unified Energy System (UES). The connection itself is expected to happen soon. Uzbekistan's Minister for Energy, Zhurabek Mirzamakhmudov, has commented that this move will ensure the security and stability of the energy system in the region. These measures are expected to allow prompt response to problems in energy supply and avoid interruptions. In addition, Inter RAO has announced that it is preparing to export electricity to Uzbekistan, with the start of supplies scheduled for this fall. Central Asia's Unified Energy System was created in the 1970s. It is managed by the coordination and dispatch center in Tashkent, and allows the balancing of seasonal fluctuations in demand for electricity and water needs during the irrigation period. It currently includes Uzbekistan, Kyrgyzstan, Kazakhstan and Turkmenistan. In May it became official that Tajikistan would join the system.