ASTANA, Kazakhstan, May 30. The Lower house of the Parliament of Kazakhstan has approved the ratification of an agreement with Kyrgyzstan on the creation of an industrial trade and logistics complex near the Karasu-Avtodorozhny and Ak-Tilek-Avtodorozhny border checkpoints, Trend reports.
The law was presented to the deputies by Vice-Minister of Trade and Integration of Kazakhstan Kairat Torebayev, who stated that the creation of a production and logistics center would allow unloading the Kordai checkpoint, the main checkpoint on the Kazakh-Kyrgyz border.
In general, the expected amount of investment in the project is about 30 billion Kazakh tenge ($68.1 million).
Torebayev noted that on March 28, 2024, a competition was announced to select an investor for the construction of the complex, but there were no takers, adding that the repeat competition announced for April 19, 2024, ended with the same result, but the search for an investor continues.
Meanwhile, the trade turnover between Kyrgyzstan and Kazakhstan in 2023 amounted to over $1.3 billion, which is 11.6 percent more than $1.1 billion in 2022.
Kyrgyzstan’s exports to Kazakhstan during last year reached $455 million, increasing by 10.9 percent compared to $410 million in 2022.
Moreover, Kyrgyzstan's imports from Kazakhstan in 2023 totaled $862 million, which is an 11.9 percent increase compared to the 2022 figures ($770 million).