Kyrgyzstan aims to support manufacturers
By Kamila Aliyeva
Kyrgyzstan, aiming to support manufacturers in the country, will launch "Caravan of Exports 2" on November 8.
This was stated by Kyrgyz Deputy Economy Minister Eldar Abakirov at a press conference on October 30, KyrTAG reported.
"The State Agency for the Promotion of Investments and Export, with the assistance of the UNDP’s Aid for Trade project, is launching the republican information campaign "Caravan of Exports 2" in all regions of Kyrgyzstan from November 8," he said.
In the course of the event, manufacturers will learn the specifics of packaging and labeling of goods, VAT refunds as well as the basics of the state program on access to finance for export-oriented enterprises, according to the minister.
"Study tours to trade and logistics centers and enterprises that have implemented a quality management system will be organized. This event is held on the basis of the "Caravan of Exports" that took place in February-March in the regions of the country, during which the business community expressed the need for holding such events," Abakirov added.
The objectives of the “Caravan of Exports” are to inform domestic producers about the benefits, the terms of export, to determine the number of producers, potential and current exporters, as well as to identify their needs and requirements for assistance in entering foreign markets.
In 2016, the volume of foreign trade amounted to $5.4 billion and demonstrated a decrease by 1.4 percent compared with 2015. Agricultural and engineering products occupied the largest share in the structure of exports. Last year the volume of coal exports amounted to 29.2 percent, glass products to 27.4 percent, ores and precious metals to 45.4 percent in the total export structure
Kyrgyzstan's economy advanced 3.8 percent year-on-year in 2016, compared to 3.5 percent growth a year earlier. Industrial output increased by 4.9 percent, driven by metal ores, manufacture of refined petroleum products, food products and production of precious metals.
In 2016, the GDP growth has reached 3.8 percent. The forecasts say that the real GDP growth of Kyrgyzstan will be 2.9 percent in 2017. The risks which can affect the GDP growth in 2017 are instability of the global economy, dependence of the economy on world prices for gold and energy resources, risks for increase of inflation due to the growth of food prices and others.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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