• KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%

Viewing results 361 - 366 of 430

Kyrgyzstan Wins ICC Case Against Kazakh State Gas Company

Officials at the International Chamber of Commerce's (ICC) International Court of Arbitrations in Paris, France, have ruled unanimously ruled in favor of the Kyrgyz Republic in a case brought by Kazakhstan's state natural gas company QazaqGaz that sought $35 million, according to the Ministry of Justice of the Kyrgyz Republic. The Kazakh company's claim was filed in 2020. QazaqGaz had originally sought $35 million during the arbitration proceedings, but later reduced its claims to $15 million by waiving its claim to lost profit. The claims against the Kyrgyz government were based on "expropriation and other violations of the claimant's rights." In 2004, QazaqGaz, together with the Kyrgyz national gas operator, JSC Kyrgyzgaz, established a joint venture (JV) for the purpose of modernizing and operating the Kyrgyz section of the Bukhara-Tashkent-Bishkek-Almaty gas trunk-line.  Under the agreement, the Kyrgyz gas operator transferred its share of the gas pipeline to the new JV. The investment agreement called for pipeline modernization, but later the contract was terminated by mutual consent. The Kazakh company then made claims based on three legal instruments: the Kyrgyz-Kazakh intergovernmental agreement on the promotion and protection of investments; the International Energy Charter, which includes substantive guarantees for the protection of foreign investments; and the Kyrgyz Republic's law on investments, which protects investors coming into the country. "The arbitration tribunal agreed with the Kyrgyz Republic's argument on the expiration of the statute of limitations on the plaintiff's claims arising from the Law on Investments in the Kyrgyz Republic and considered them inadmissible," the Kyrgyz Ministry of Justice said in a statement. It's worth noting that according to Kyrgyz law, the statute of limitations is three years from the moment the claimant discovered the violation of their rights. The International Arbitration Court rejected the claim on two other legal instruments. According to the Kyrgyz Ministry of Justice, the arbitration panel agreed with the defendant's argument that the actions of Kyrgyzgaz - which allegedly violated the rights of the plaintiff - cannot be attributed to the Kyrgyz Republic under the rules of international law on state responsibility. Therefore, the Kyrgyz Government cannot be held liable for the actions of Kyrgyzgaz in allegedly wrongfully terminating the contract. The International Arbitration Court ordered the Kazakh company to reimburse the Kyrgyz side for 60% of its arbitration costs. The decision can be appealed within one month. KyrgyzGaz is now called Gazprom Kyrgyzstan, and is owned by the Russian state gas company.

Will Construction Of Kyrgyzstan’s “Chinese Railroad” Start This Year?

The China-Kyrgyzstan-Uzbekistan railroad construction project is the largest project in Kyrgyzstan’s transport sector, according to the authorities in Kyrgyzstan, and its implementation will help realize the transit potential of the republic while connecting it with the countries of southeast Asia. The new railroad will be important not only for the three named countries through which it will pass; it will also shorten the route from East Asia to the Middle East and Southern Europe. The total length of the Kyrgyz branch will be 280 kilometers. It’s worth noting that Beijing developed a feasibility study for this project back in the early 2000s, whereby the route was first determined. The Chinese study proposed building a shorter route across the territory of Kyrgyzstan, which would have been about 250 kilometers long. But the authorities in Kyrgyzstan at the time proposed lengthening the route by over 100 kilometers in order to add more villages to the route, thereby securing access to the economic benefits of the railroad for more citizens. For the longest time, authorities in the three countries couldn’t agree on which gauge to set. This hinged on the fact that China, Turkey and Iran are building using the European gauge of 1.435mm, while Central Asian countries use the Russian standard of 1.620mm. As a result, the parties decided on a so-called transition from one gauge to the other. According to some reports, this transition will be located in Kyrgyzstan in the village of Kazarman. China will build its part of the railroad line to this settlement on its own. Financing for the Kyrgyz part of the railroad will be determined by the authorities in Kyrgyzstan in concert with their counterparts in Uzbekistan and other investors. The project’s cost is estimated at $4.7 billion. In the future, Kyrgyzstan plans to connect the new route with the northern part of the railroad in order to re-export Chinese goods to Russia. Chinese leader Xi Jinping recently hosted President Shavkat Mirziyoyev of Uzbekistan on a state visit to Beijing, where the two leaders discussed the China-Kyrgyzstan-Uzbekistan railroad, among other economic issues. In a conversation with his Uzbek counterpart, Xi Jinping noted that the countries should speed up negotiations and start construction of the railroad as soon as possible, which is a key component of China’s “One Belt, One Road” mega-project.

Why Do People in Kyrgyzstan Refuse Seasonal Vaccinations?

In Kyrgyzstan more than 22,000 refusals of seasonal vaccinations were registered last year, according to the director of the Republican Center for Immunoprophylaxis, Gulbara Ishenapysova. She told journalists at a press conference that 40% of those who refuse doubt that vaccines against flu, measles and other seasonal diseases are of good quality -- while almost half do not want to be vaccinated for religious reasons. The Ministry of Health fears that an influx of infections from abroad could occur at any moment. For example, diphtheria cases are now being registered in Europe, and polio has not yet been defeated in Afghanistan and Pakistan. Doctors in Kyrgyzstan, said Ishenasypova, must be prepared for these diseases. Last year, nine children died of complications from measles in the Republic. Doctors emphasize that all of them had not been vaccinated. Meanwhile, parents refusal to vaccinate their children is punishable. Unvaccinated children may not be admitted to kindergarten or school. Furthermore, an article enshrined in the constitution assigns criminal liability to parents who deliberately fail to seek medical help in cases where a disease harmed a child. "In 2022, we lost a child to tetanus, and in 2023, we lost nine children to measles. If an unjustified refusal led to a fatal outcome, then it is intentional harm to the child's health, and liability under the law is provided for," the Republican Center for Immunoprophylaxis stressed. The rate of refusal of seasonal vaccinations has decreased over the past five years. The Center cited statistics which indicate that the largest group to refuse vaccinations -- those who do so for religious reasons -- is decreasing. Seven or eight years ago, 78% of the total number to refuse did so on religious grounds; today, that figure is down to 48%. "The Spiritual Administration of Muslims of Kyrgyzstan urges parents not to refuse vaccination for allegedly religious reasons. The question of benefits and harms of vaccination belongs to medicine. Therefore, in this situation, the decision on Shariah will be made taking into account the opinion of medicine. Islam is not against vaccinations if there is a conclusion from the Ministry of Health on the safety of the drug," said the head of the information department of the Spiritual Administration of Muslims of Kyrgyzstan.

First Regular Flights From Beijing Arrive In Bishkek

Manas International Airport in Bishkek has announced that new regular flights between Bishkek and Beijing are to be carried out three times a week. The first flight from Beijing to Bishkek carried 90 passengers, while there were 150 people on the return flight. Direct flights from Bishkek to Chinese cities are operated by companies from Russia, Kazakhstan and China. The Chinese airline China Southern Airlines carries passengers from Beijing. The Kyrgyz government hopes that an increase in the number of flights from China will bring new economic opportunities and an increase in trade turnover between the two countries. Tourist flow from China, which had practically stopped since the coronavirus pandemic, is expected to restart. The first large group of tourists from China arrived in Bishkek in April last year on a flight from Urumqi. Earlier, representatives of the Kyrgyz tourism industry held a meeting with Chinese tour companies and representatives of the Chinese ministry of economy, where a simplified electronic visa system for Chinese tourists was introduced.

€10bn To Be Invested In Trans-Caspian Transport Corridor

The two-day Global Gateway Investors Forum for EU-Central Asia Transport Connectivity opened on January 29th in Brussels, Belgium. The event brings together high-level representatives from the European Commission, countries of the EU, Central Asia and Caucasus, as well as Turkey. At the forum, the European Commission’s executive vice-president Valdis Dombrovskis announced that European and international financial institutions will commit €10bn ($10.8bn) in support and investments towards sustainable transport connectivity in Central Asia. The forum’s agenda includes discussions of the required investments to transform the Trans-Caspian Transport Corridor into a cutting-edge, multimodal, and efficient route, connecting Europe and Central Asia within 15 days. The European Commission said that Russia's invasion of Ukraine has underlined the urgency to find alternative reliable efficient trade routes between Europe and Asia. The development of transport connectivity is also a means to strengthen regional integration and economic development in Central Asia.  The €10bn commitment is a mixture of ongoing and planned investments which the European Commission foresees to be mobilized for sustainable transport development in Central Asia in the short term. In concrete terms, several significant commitments are being made on the first day of the forum as part of the overall €10bn. The European Investment Bank (EIB), represented by its vice-president Teresa Czerwińska, signed memoranda of understanding totaling €1.47bn ($1.6bn) with the governments of Kazakhstan, Kyrgyzstan and Uzbekistan, as well as with the Development Bank of Kazakhstan. These loans will be made possible by guarantees provided by the European Commission. 

Kyrgyzstan’s GDP Reached $13.7bn In 2023

2023 Kyrgyzstan’s GDP grew by 6.2% last year to reach $13.7bn, a record high for the country, the chairman of the Cabinet of Ministers Akylbek Japarov announced at a government meeting on January 26th.  Mr Japarov said that he believes the 6.2% figure for 2023 will be higher after the economic data for 2023 is updated and finalized.  The head of the cabinet commented that to achieve a GDP of $30bn by 2030, Kyrgyzstan needs to ensure an annual growth rate of 9%-11.5%, and to reach the $200bn mark by 2050, the growth rate needs to average 10.3% per year. “It is difficult to maintain this pace, but we can achieve it,” said Japarov, adding that the government’s priority task is to create new jobs.