Kyrgyzstan International Affairs - The Times Of Central Asia

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Wages in Uzbekistan Continue to Rise in Early 2024

According to the Uzbek Statistics Agency, as of the end of the first quarter of 2024, the average monthly nominal salary in Uzbekistan reached $389. This translates to an increase of almost 20% compared to the same period last year. Average wages are among the highest in the capital of Tashkent ($640) and the Navoi region ($514). Workers in the banking, insurance, credit and professional services spheres earn the most, at $1,043 per month. In the IT sector, Uzbeks earn $925 on average. The lowest wages are traditionally paid to workers in education and healthcare; in the first quarter of 2024, their salaries averaged $269 and $253, respectively. Since 2019, average salaries in Uzbekistan have increased from $183 to $389. For 2023, all Commonwealth of Independent States (CIS) countries saw an increase in average monthly wages. The highest rates of growth were recorded in Armenia and Belarus. Average wages in the CIS countries in 2023 were as follows (based on state statistics): 1. Tajikistan - 2,013.11 somoni ($183) 2. Uzbekistan - 4.5 million som ($360) 3. Turkmenistan - 1,200 manat ($360) 4. Kyrgyzstan - 33,664 som ($376) 5. Azerbaijan - 942 manat ($550) 6. Belarus - 1,991.2 rubles ($616.50) 7. Armenia - 266,990 dram ($660) 8. Russia - 73,709 rubles ($805) 9. Kazakhstan - 393,605 tenge ($874)

Central Asia International Affairs Kyrgyzstan Kyrgyzstan International Affairs Business & Economy Kyrgyzstan Local Politics Kyrgyzstan Business & Economy

Operator of France’s Courchevel Ski Resort to Build Slopes in Kyrgyzstan

A new ski resort called Three Peaks will soon open in the Issyk-Kul region of Kyrgyzstan. According to plans, Société Des Trois Vallées, the operator of the elite Courchevel resort in France, will build slopes with a total length of 200 kilometers in the villages of Jyrgalan, Ak-Bulak and Boz-Uchuk. The first stage of construction will require an investment of $165 million. This money will be used to build 60 kilometers of ski slopes, six cable cars, as well as the full suite of hospitality infrastructure: hotels, restaurants, conference halls and recreation areas. The works are planned to be completed by the end of 2026. Representatives of a consortium of French companies that develop and manage ski resorts came to Kyrgyzstan in the spring of last year. Later, the French ambassador to the Kyrgyz Republic, François Delaus, announced the construction of a large tourist facility in Issyk Kul.

Central Asia International Affairs Kyrgyzstan Kyrgyzstan International Affairs Business & Economy Kyrgyzstan Business & Economy

U.K. Plans to Open an Investment Fund in Kyrgyzstan

The United Kingdom is weighing up the prospect of opening an investment fund in Kyrgyzstan. Its main function will be to support small- and medium-sized businesses, according to comments made by the British ambassador to Kyrgyzstan Nicholas Bowler during a recent meeting of the Kyrgyz-British Business Council. "Britain is interested in cooperation in mining, agriculture, consulting, the financial sphere, information technology, education and some other areas," said Bowler. According to him, Britain intends to invest £19.5 million ($24.5 million) to create a venture capital investment fund in the country. The series of funds will seek investments in small- and medium-sized enterprises with high potential in the region. The British embassy and business community intend to maintain contacts at the International Business Council and develop trade and economic relations between the two countries. Ambassador Bowler said that the UK is also interested in mining metals and minerals in Kyrgyzstan. In the near future British geologists will begin work to digitize the republic's geological data. In addition, Bowler said, negotiations are underway to engage the international consulting company Boston Consulting Group to develop a joint mining strategy. "Work is now underway in Kyrgyzstan to introduce English commercial law. In the south of the country, United Concrete Canvas is planning to start construction of a concrete canvas [canal lining] plant in the near future, which demonstrates the trust and interest of British companies in Kyrgyzstan," said Kyrgyz ambassador to the UK Ulan Jusupov at the meeting. At the end of 2023 bilateral trade volume between Kyrgyzstan and the UK amounted to $92 million. This represented an increase of 287% on the previous year, as European nations looked for new trading partners in Central Asia, and searched for a way for their firms to get their goods into Russia with less scrutiny. Recently the British authorities have adopted a new trade scheme for developing countries. Under the scheme, Kyrgyzstan can export to the UK more than 8,000 different types of goods at reduced or zero tariffs. So far the main export items are gold, generators, and chemical products. Earlier this month, British foreign secretary David Cameron met with Kyrgyz president Sadyr Zhaparov as part of his working visit to Central Asia.

Central Asia International Affairs Kyrgyzstan International Affairs Kyrgyzstan Business & Economy Kyrgyzstan Business & Economy

Kyrgyzstan Looks to Azerbaijan to Replace Russian Fuel

Geopolitical turbulence is forcing Kyrgyz authorities to diversify approaches to securing its fuel and lubricants supplies. Azerbaijan may become one of the sources of oil products. As part of Kyrgyz president Sadyr Zhaparov's recent visit to Azerbaijan, negotiations were held with representatives of the Baku Oil Refinery, which is run by the state oil company, SOCAR. The two sides discussed the specific details of Azerbaijani oil supplies to the Junda oil refinery in Kyrgyzstan. "Azerbaijan is one of the largest exporters of oil products. In the near future, the Junda oil refinery will also start operating in Kyrgyzstan, the demand of which is more than 1 million tons of fuel per year. In this regard, the issues of oil supplies to Kyrgyzstan were discussed with the management of SOCAR. For their part, they are ready to cooperate," said Kyrgyz energy minister Taalaibek Ibrayev. Earlier, Kyrgyzstan's Ministry of Economy and Commerce discussed various risks in the fuel market. The ministry is preparing a package of measures in case of a sharp increase in prices for crude oil and petroleum products. Kyrgyzstan's economy minister Daniyar Amangeldiev referenced the agreements between Russia and Kyrgyzstan on duty-free supplies of oil products under the customs rules of the Eurasian Economic Union (EAEU). However, the ministry fears a sharp reduction in imports from Russia -- as Ukrainian forces use drones to bomb Russian refining capacity, and western sanctions make repairing and replacing parts more difficult. Currently, Kyrgyzstan's local capacity for refining petroleum products doesn't even cover 5% of domestic demand.

Central Asia Tajikistan International Affairs Tajikistan Business Economy Tajikistan Kyrgyzstan International Affairs Kyrgyzstan Kazakhstan International Affairs Kazakhstan Business & Economy Kazakhstan Business & Economy Kyrgyzstan Business & Economy

U.S. to Restrict Firearms Exports to Central Asian Countries

From the end of May the U.S. will restrict exports of all firearms to non-government entities in high-risk countries, including Kyrgyzstan, Kazakhstan and Tajikistan, according to a statement from the U.S. Department of Commerce. According to the statement, the Department’s Bureau of Industry and Security (BIS) has issued a regulation “amending the Department’s licensing policy for exports of firearms, ammunition, and related components under its jurisdiction.” The decision concerns export to non-governmental organizations. Kyrgyzstan, Kazakhstan and Tajikistan are among 36 countries included on the list of high-risk nations. As part of the new changes to the regulations, the administration is also shortening the validity period of arms export licenses to one year from four years. The changes are aimed at reducing the risk of increasing instability in the regions of the world through the illicit use of American weapons.

Central Asia International Affairs Kyrgyzstan International Affairs Kyrgyzstan Business & Economy Kyrgyzstan Business & Economy

Kyrgyz Farmers Urged to Supply Agricultural Products to China

The Kyrgyz Ministry of Agriculture, Forestry and Water Resources has urged more domestic businesses to establish and expand trade in agricultural produce with the People's Republic of China (PRC). Kyrgyz farmers and processors currently export wheat flour, cherries, melons, grapes and soybeans to China and to increase food exports, the ministry has issued a series of guidelines. Entrepreneurs and small-business owners must first be registered on the website of the General Customs Administration of the PRC, and to satisfy Chinese demand, ensure that their produce is devoid of genetically modified organisms (GMOs) and harmful additives. "It should be noted that requirements on the Chinese side differ according to risks posed by individual plant products," warned the Kyrgyz Ministry of Agriculture, "and conducts a comprehensive inspection of produce provided by first-time exporters." In his address at an earlier conference in Bishkek, Chinese Ambassador to Kyrgyzstan Du Dewen confirmed China's need for imports from organic agriculture vendors and plans to improve trade relations with Kyrgyzstan. According to the General Customs Administration, Kyrgyzstan increased its annual export to China by over two-fold in the first quarter of 2024, and total bilateral trade turnover stands at $4.5 billion per year. In a recent list provided by Chinese authorities, Beijing requires beef, poultry, fish, as well as cowhides, sheep, goats, and washed wool and cashmere.