Page 125 - RusRPTAug24

Russia and Kyrgyzstan plan to increase mutual trade turnover volumes to $5bn per year, according to a welcome address by President of Kyrgyzstan Sadyr Zhaparov to participants of a meeting of the bilateral intergovernmental commission on cooperation that is taking place in Krasnoyarsk. "In 2023, trade turnover between the two countries reached high volumes and amounted to $2.9bn. We target on boosting it and bringing it to $5bn, with huge potential for doing it in place," he said. Trade turnover between Russia and Kyrgyzstan grew by 5.7% in Q1 y/y, the Kyrgyz president added.
The Kyrgyz side expects an increase of Russian investment in the republic’s economy and growth of mutual trade turnover to $10-20bn per year, President of the Chamber of Commerce and Industry of Kyrgyzstan Temir Sariev said at the 11th meeting of the intergovernmental Russian-Kyrgyz commission on cooperation that is taking place in Krasnoyarsk. "We need investment, you have experience and money. The West won’t take it whereas we are ready," he said addressing potential investors from Russia.
Mutual trade between the countries of the Eurasian Economic Union (EEU) in January - April 2024 increased by 9.5% compared to the same period last year, Russia’s Deputy Minister of Economic Development Dmitry Volvach said. Volvach noted that generally the share of partners from CIS countries in Russia's foreign trade is growing. "While last year this share reached almost 15%, in January - April 2024 it already exceeded 16%. Russia’s trade turnover with CIS countries in 2023 increased by almost 6% and in January - April this year it added another 9.5%, that is, we are increasing not only volumes, but also the growth rate of key macroeconomic and trade indicators," the Deputy Minister added.
The Economic Development Ministry expects Russia’s trade turnover with African countries to double by 2030 to $50-60bn, Deputy Economic Development Minister Vladimir Ilyichev said at the Caucasus Investment Forum.
In January-May, the volume of exports from Kazakhstan to Russia reached $2.8bn, an increase of 5.7% compared to the same period last year. This follows from data from the Institute of Economic Research of the Ministry of Economy of the Republic. In addition to Russia, China and Italy stand out among Kazakhstan's key partners. In January-May, exports to China grew by 19.4%, reaching $6.8bn. Deliveries to Italy, despite a 10.5% reduction, amounted to $4.6bn. Overall, the country's exports grew by 1.8% to $32.5bn. The increase was supported by increased supplies of oil, copper, radioactive elements and ferroalloys. Last year, trade turnover between Russia and Kazakhstan reached 2.5 trillion rubles, or 12.6 trillion tenge, Russian Prime Minister Mikhail Mishustin reported in March during talks with his counterpart from the republic, Olzhas Bektenov. This figure is 0.5 billion rubles higher than the record figures of 2022. According to Mishustin, accumulated Russian investments in the economy of Kazakhstan amounted to 1.5 trillion rubles
Georgia’s trade turnover with Russia decreased in the first half of 2024.
As Geostat reported, between January and June, Georgia sold goods worth approximately 340mn $to Russia, which is less than the figure of the last year. Russian imports to Georgia in the first half of the year amounted to
125 RUSSIA Country Report August 2024 www.intellinews.com