BAKU, Azerbaijan, February 28. The government of Kyrgyzstan plans to further develop the transit potential of the country through the creation of new logistical hubs and the development of transport infrastructure, Chairman of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, said, Trend reports with reference to Kyrgyz media outlets.
“We are going to develop the transit potential of the country by the creation of transnational logistic hubs, bonded warehouses, and logistical infrastructure in order to participate in the e-commerce chains that will create a huge number of jobs, as well as an inflow of innovative financial technologies, such as e-currency, cryptocurrency and blockchain,” the chairman said.
He noted that so called the low base effect would enable the establishing of the ambitious growth rate of Kyrgyz economy.
According to Japarov, Kyrgyzstan does not fully use its transport and export potential in terms of providing supply to China. At the same time, through Kyrgyzstan passes a large amount of e-commerce from China to Europe.
The chairman added, that the revenue of the e-commerce market in Kyrgyzstan totaled only $460 million in 2021, however, according to his forecast, the figure is expected to go up to $864.1 million in 2025. The number of e-commerce users is expected to reach 2.7 million people, or 38 percent of the county’s population.
At the same time, Kyrgyzstan is considering the opening of a new international multimodal corridor to Russia through the Caspian Sea. The onshore part of the route is going to run from Kyrgyzstan through the territories of Uzbekistan and Turkmenistan.