Issue 1287 - 13.10.2023
30.11.2023

Sadyr Zhaparov optimistic about development of relations with Russia

"The results of Vladimir Putin’s visit allow us to look with optimism at the development of Kyrgyz-Russian relations," the President of Kyrgyzstan Sadyr Zhaparov told reporters following negotiations with his Russian counterpart.

According to him, substantive negotiations were held on topical issues of bilateral and multilateral cooperation. The leaders of the countries confirmed the invariability of the course towards enhancing and expanding mutual partnership.

The head of state believes that the signed bilateral documents are clear confirmation of this.

We agreed that the volume of trade between our countries does not correspond to the potential that we have.

"We agreed to take measures to further increase it and reach an ambitious level of mutual trade in the amount of $5 billion. During the negotiations, we separately focused on areas of interaction in the areas of investment, the fuel and energy complex and agriculture. In this vein, we agreed to step up the work of the governments of the two states to diversify their economies and implement large investment projects in order to deepen economic interaction. Today we also stressed the importance of the mechanisms existing between our countries for the comprehensive development of the two sides, in particular, the intergovernmental commission on trade, economic, scientific, technical and humanitarian cooperation and the Russian-Kyrgyz Development Fund," he said.

The President noted the positive results of the 10th Kyrgyz-Russian Interregional Conference on Industrial Cooperation, held the day before in Jalal-Abad. He believes that this site has high demand and great potential.

Sadyr Zhaparov also stated that Kyrgyzstan attaches great importance to the development of cultural and humanitarian cooperation with Russia. In this regard, he noted the special role of the Kyrgyz-Russian Slavic University (KRSU).

"Kyrgyzstan’s chairmanship in the Commonwealth of Independent States coincided with the Year of the Russian language as the language of interethnic communication in the CIS and the declaration of St. Petersburg as the cultural capital of the Commonwealth in 2023. We also discussed the celebration of the 95th anniversary of the outstanding writer Chingiz Aitmatov. In the field of security, we noted the positive role of the joint Russian military base in Kant and spoke in favour of strengthening cooperation in the fight against international terrorism, extremism, drug and weapons trafficking and other forms of transnational organised crime, both in a bilateral format and within international organisations. Kyrgyz-Russian interaction within the EAEU is of particular relevance. We will make every effort to further deepen integration processes and achieve the goals of the Union," the head of state concluded.

By Tatyana Kudryavtseva for 24.kg.

Kyrgyzstan General

30.11.2023

Kyrgyzstan ratifies agreement with Russia on creation of Joint Air Defence System

President of Kyrgyzstan Sadyr Zhaparov signed the Law of Kyrgyzstan on the ratification of the Agreement between Kyrgyzstan and Russia on the creation of a Joint Regional Air Defence System of Kyrgyzstan and Russia, signed on August 16, 2022 in Moscow.

The law was adopted by the Parliament on October 11,...

President of Kyrgyzstan Sadyr Zhaparov signed the Law of Kyrgyzstan on the ratification of the Agreement between Kyrgyzstan and Russia on the creation of a Joint Regional Air Defence System of Kyrgyzstan and Russia, signed on August 16, 2022 in Moscow.

The law was adopted by the Parliament on October 11,...

30.11.2023

Vladimir Putin tells what ideas of Kyrgyzstan Russia ready to support

The President of Russia spoke to reporters and told about the results of negotiations with Sadyr Zhaparov, the history of the creation of Kant airbase and the projects that Russia is ready to support in Kyrgyzstan.

According to him, the negotiations took place in a friendly and constructive manner. They were...

The President of Russia spoke to reporters and told about the results of negotiations with Sadyr Zhaparov, the history of the creation of Kant airbase and the projects that Russia is ready to support in Kyrgyzstan.

According to him, the negotiations took place in a friendly and constructive manner. They were...

Finance and Investment

30.11.2023

Switch to cashless payment for travel in capital of Kyrgyzstan causes 136 million som of damage

Switch to cashless payment for travel in public transport caused 136 million som of damage. It was announced at a meeting of the standing commission of the Bishkek City Council on housing and communal services, fuel and energy complex, transport, communications and ecology.

Deputy Kazybek Ergeshov recalled that there was a...

Switch to cashless payment for travel in public transport caused 136 million som of damage. It was announced at a meeting of the standing commission of the Bishkek City Council on housing and communal services, fuel and energy complex, transport, communications and ecology.

Deputy Kazybek Ergeshov recalled that there was a...

30.11.2023

Businessmen of Kyrgyzstan and Russia plan to sign contracts for $3.5 billion

Following the results of the 10th Kyrgyz-Russian Interregional Conference, it is planned to sign documents and contracts for over $3.5 billion. The head of the Cabinet of Ministers of Kyrgyzstan, Akylbek Zhaparov, announced at the conference.

He noted that Russia is one of the main trading partners of Kyrgyzstan. From 2018...

Following the results of the 10th Kyrgyz-Russian Interregional Conference, it is planned to sign documents and contracts for over $3.5 billion. The head of the Cabinet of Ministers of Kyrgyzstan, Akylbek Zhaparov, announced at the conference.

He noted that Russia is one of the main trading partners of Kyrgyzstan. From 2018...

30.11.2023

Foreign and mutual trade of Kyrgyzstan in January-August amounts to $9.4 billion

The volume of foreign and mutual trade of Kyrgyzstan for January-August 2023 amounted to $9 billion 407.1 million. This is stated in the materials of the National Statistical Committee.

The growth in the volume of foreign and mutual trade in January-August of this year compared to January-August 2022 was ensured by...

The volume of foreign and mutual trade of Kyrgyzstan for January-August 2023 amounted to $9 billion 407.1 million. This is stated in the materials of the National Statistical Committee.

The growth in the volume of foreign and mutual trade in January-August of this year compared to January-August 2022 was ensured by...

30.11.2023

Greenback remains on lower end as stock markets flourish

The dollar meandered near a two-week low on Thursday ahead of U.S. inflation data that will help shape the Federal Reserve's next policy steps, a day after the release of minutes from the Fed's last meeting showed policymakers taking a cautious stance.

The dollar index, which measures the U.S. currency against...

The dollar meandered near a two-week low on Thursday ahead of U.S. inflation data that will help shape the Federal Reserve's next policy steps, a day after the release of minutes from the Fed's last meeting showed policymakers taking a cautious stance.

The dollar index, which measures the U.S. currency against...

Metals and Minerals

30.11.2023

Ounce of gold at National Bank of Kyrgyzstan increases in price by $14.25

The repurchase price for an ounce of gold bullion bars of the National Bank of Kyrgyzstan as of October 11 was set at 172 thousand 75 som.

Previously, the regulator bought bars weighing 31.1035 grams from the population for 170 thousand 807.5 som. Thus, the price increased by 1 thousand 267.5...

The repurchase price for an ounce of gold bullion bars of the National Bank of Kyrgyzstan as of October 11 was set at 172 thousand 75 som.

Previously, the regulator bought bars weighing 31.1035 grams from the population for 170 thousand 807.5 som. Thus, the price increased by 1 thousand 267.5...

30.11.2023

Bullion, silver keep riding high on economic headwinds

Gold extended gains to a two-week high on Thursday, as the dollar and Treasury yields ticked down on the Federal Reserve's cautious tilt in tone ahead of a U.S. inflation print that could offer further rate cues.

Spot gold was up 0.5% at $1,882.59 per ounce by 1138 GMT, its highest...

Gold extended gains to a two-week high on Thursday, as the dollar and Treasury yields ticked down on the Federal Reserve's cautious tilt in tone ahead of a U.S. inflation print that could offer further rate cues.

Spot gold was up 0.5% at $1,882.59 per ounce by 1138 GMT, its highest...

30.11.2023

Bulls return to ferrous, coal markets

Iron ore futures rose for a second straight session on Thursday as investors weighed prospects of additional measures to shore up China’s flagging economy against domestic steel production cuts and uncertainty about the country’s property sector.

Fresh stimulus hopes for the world’s second-biggest economy and top metals consumer have provided support...

Iron ore futures rose for a second straight session on Thursday as investors weighed prospects of additional measures to shore up China’s flagging economy against domestic steel production cuts and uncertainty about the country’s property sector.

Fresh stimulus hopes for the world’s second-biggest economy and top metals consumer have provided support...

30.11.2023

Copper, lead, nickel log gains as other base metals depreciate

Copper prices rose on Thursday due to measures to support the economy of top metals consumer China, stronger demand and a relatively weak dollar, with investors focused on upcoming U.S. inflation data.

Three-month copper on the London Metal Exchange (LME) rose 0.6%, to $8,069 per metric ton in official open-outcry trading.

The...

Copper prices rose on Thursday due to measures to support the economy of top metals consumer China, stronger demand and a relatively weak dollar, with investors focused on upcoming U.S. inflation data.

Three-month copper on the London Metal Exchange (LME) rose 0.6%, to $8,069 per metric ton in official open-outcry trading.

The...

Energy Industry

30.11.2023

Kyrgyzstan generates 10.4 billion kWh of electricity in January-September

In Kyrgyzstan, in January-September 2023, 10.4 billion kWh of electricity was generated. This is stated in the materials of the National Statistics Committee.

More than 89% of all electricity in the republic is generated by hydroelectric power plants.

Thus, the volume of provision (supply) of electricity, gas, steam and air conditioning for...

In Kyrgyzstan, in January-September 2023, 10.4 billion kWh of electricity was generated. This is stated in the materials of the National Statistics Committee.

More than 89% of all electricity in the republic is generated by hydroelectric power plants.

Thus, the volume of provision (supply) of electricity, gas, steam and air conditioning for...

Agriculture

30.11.2023

Kyrgyzstan increases imports of Russian wheat by third in January-August 2023

Kyrgyzstan increased imports of Russian wheat by 32.6% in January-August 2023. This data is provided by the National Statistics Committee.

Import volumes increased from 142.9 thousand tonnes to 189.5.

In dollar terms, there was a decrease of 21.7% to $30.45 million.

On average, the price of Russian wheat decreased by 41% to $161...

Kyrgyzstan increased imports of Russian wheat by 32.6% in January-August 2023. This data is provided by the National Statistics Committee.

Import volumes increased from 142.9 thousand tonnes to 189.5.

In dollar terms, there was a decrease of 21.7% to $30.45 million.

On average, the price of Russian wheat decreased by 41% to $161...

30.11.2023

Kyrgyz Ministry of Agriculture allocates 17 billion som for development of 16 agricultural clusters

To date, 16 agricultural clusters have been formed, ensuring the development of key sectors of the country’s agro-industrial complex, including the production of milk, meat, sugar, chicken eggs and many others. This was reported by the press service of the Ministry of Agriculture.

As noted, the goal of cluster development is...

To date, 16 agricultural clusters have been formed, ensuring the development of key sectors of the country’s agro-industrial complex, including the production of milk, meat, sugar, chicken eggs and many others. This was reported by the press service of the Ministry of Agriculture.

As noted, the goal of cluster development is...

30.11.2023

US wheat contract steady on downside as Russian supply glut persists

Chicago soybean futures held near 22-month lows on Thursday as an upgrade to Argentina’s projected harvest raised expectations of plentiful supplies from South America, with traders shrugging off an expected downgrade for the U.S. crop outlook.

Wheat was unchanged as a flood of cheap grain from Russia continued to dominate the...

Chicago soybean futures held near 22-month lows on Thursday as an upgrade to Argentina’s projected harvest raised expectations of plentiful supplies from South America, with traders shrugging off an expected downgrade for the U.S. crop outlook.

Wheat was unchanged as a flood of cheap grain from Russia continued to dominate the...

Oil and Gas Sector

30.11.2023

Russia intends to supply 1.2 million tonnes of fuel to Kyrgyzstan before end of year

President of Kyrgyzstan Sadyr Zhaparov and President of Russia Vladimir Putin made a joint statement following the results of bilateral negotiations, which took place on October 12, 2023 in Bishkek.

According to Putin, during the negotiations it was repeatedly emphasized that energy remains one of the key sectors of Kyrgyz-Russian cooperation.

The...

President of Kyrgyzstan Sadyr Zhaparov and President of Russia Vladimir Putin made a joint statement following the results of bilateral negotiations, which took place on October 12, 2023 in Bishkek.

According to Putin, during the negotiations it was repeatedly emphasized that energy remains one of the key sectors of Kyrgyz-Russian cooperation.

The...

30.11.2023

Brent veers up, defying worsening demand outlook

Oil prices rose on Thursday on expectations that US interest rates had peaked, but gains were capped by a large build in US crude stockpiles and a forecast for slower demand growth next year from the International Energy Agency (IEA). The Organisation of Petroleum Exporting Countries (OPEC) has stuck to...

Oil prices rose on Thursday on expectations that US interest rates had peaked, but gains were capped by a large build in US crude stockpiles and a forecast for slower demand growth next year from the International Energy Agency (IEA). The Organisation of Petroleum Exporting Countries (OPEC) has stuck to...

30.11.2023

Winter’s advance pushes natural gas benchmarks up

Dutch and British gas prices rose on Thursday morning amid ongoing geopolitical risks and colder weather forecasts, while higher wind speeds and increased Norwegian gas flows provided some balance.

The Dutch November gas contract was up by 2.08 euro at 48.48 euro per megawatt hour (MWh) by 0842, according to LSEG...

Dutch and British gas prices rose on Thursday morning amid ongoing geopolitical risks and colder weather forecasts, while higher wind speeds and increased Norwegian gas flows provided some balance.

The Dutch November gas contract was up by 2.08 euro at 48.48 euro per megawatt hour (MWh) by 0842, according to LSEG...

Regional News

30.11.2023

Russia's inflation accelerates

In September, consumer prices increased by another 0.87%, Rosstat reported on Wednesday. This is noticeably higher than analysts’ expectations; such a monthly increase is the maximum since the beginning of the year (in 2022 there was more only in the period from January to April).

Non-food products in September rose in...

In September, consumer prices increased by another 0.87%, Rosstat reported on Wednesday. This is noticeably higher than analysts’ expectations; such a monthly increase is the maximum since the beginning of the year (in 2022 there was more only in the period from January to April).

Non-food products in September rose in...

30.11.2023

Russian shares under pressure from strengthening rouble

The Russian stock market on Thursday, October 12, was trading in different directions, reacting to the strengthening of the rouble after reports of the introduction of mandatory sales of foreign currency earnings. At 15:05 Moscow time, the Moscow Exchange index fell by 1.06% to 3,160.8 points, the dollar RTS, in...

The Russian stock market on Thursday, October 12, was trading in different directions, reacting to the strengthening of the rouble after reports of the introduction of mandatory sales of foreign currency earnings. At 15:05 Moscow time, the Moscow Exchange index fell by 1.06% to 3,160.8 points, the dollar RTS, in...

30.11.2023

External debt of Russia decreases by 4% in 3Q, over 9 months by 14%

The external debt of Russia in the 3rd quarter of 2023 decreased by $13.9 billion, or 4.0%, to $329.5 billion, according to information posted on the website of the Central Bank of Russia.

In the first half of 2023, the external liabilities of Russia decreased by $40.3 billion, or 10.5%, from...

The external debt of Russia in the 3rd quarter of 2023 decreased by $13.9 billion, or 4.0%, to $329.5 billion, according to information posted on the website of the Central Bank of Russia.

In the first half of 2023, the external liabilities of Russia decreased by $40.3 billion, or 10.5%, from...