Trade turnover between Kyrgyzstan and China decreases

Photo: Trade turnover between Kyrgyzstan and China decreases 
  / Kyrgyzstan

Baku, Azerbaijan, May 26
By Aygun Badalova -Trend:

The trade turnover between Kyrgyzstan and China has recently significantly decreased, Kyrgyz minister of economy Temir Sariyev said at the meeting of the Parliament's Committee on international affairs, Kabar news agency reported on May 26.

He stressed that the decrease was the result of the tightening of control on Kyrgyz-Kazakh border, adding that previously Kyrgyz entrepreneurs engaged in re-exports, used to leave 20 percent of China-imported goods in Kyrgyzstan for sale, while sending the remaining 80 percent to Kazakhstan.

"This shows that the accession of Kyrgyzstan into the Customs Union is essential. Many entrepreneurs support this step as it opens a multimillion consumer market," Sariyev said.
He also said that Kyrgyzstan;s joining the Customs Union will not contradict the country's participation in the World Trade Organization (WTO).

"However, if any problems with this regard appear, we will address them jointly with WTO through the negotiations," he added.

Last week the Parliament of Kyrgyzstan held public hearing on the adoption of the "road map" for the accession to the Customs Union, which was previously approved by Kyrgyz Cabinet of Ministers.

By entering the Customs Union and common free market zone Kyrgyzstan expects certain preferences for major markets of the republic, the establishment of a special fund to support entrepreneurs and financial aid in the amount of about $200 million to equip customs and frontier point on the border with China, Uzbekistan and Tajikistan.

Follow us on Twitter @TRENDNewsAgency