Akylbek Zhaparov: EAEU has already become center of economic attraction

Bishkek, Oct.2, 2024. /Kabar/. The Eurasian Economic Union has already established itself as a center of economic attraction and found its worthy place in the modern world economyб Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Zhaparov said addressing a meeting of the Eurasian Intergovernmental Council in an expanded format. The meeting was held in Yerevan (Republic of Armenia).

The head of the Cabinet noted that heads of government at each meeting traditionally “compare the notes”, discussing positive indicators in the economic development of the countries of the Union.

Akylbek Zhaparov cited a number of economic indicators of Kyrgyzstan.

“According to the results of 8 months of the current year, the economy of the Kyrgyz Republic continues a positive trend of development with a real GDP growth rate of 6.6% compared to the same period last year. In fact, positive dynamics is observed in all sectors of the economy, in the forefront are construction and agriculture with growth rates of 39% and 7% respectively. In all spheres of economic activity there is an increase in the growth rate of wages, for the first 7 months of this year this indicator amounted to more than 11%. Foreign trade turnover of the Kyrgyz Republic in January-July 2024 increased by 4.7%. For the first half of this year, the inflow of foreign direct investment in the Kyrgyz Republic increased by 7.7% compared to the same period,” he said.

The head of the Cabinet emphasized that for 8 months of 2024 the consolidated budget of the Kyrgyz Republic increased by 28% compared to the same period last year.

Akylbek Zhaparov noted that this year marks the 10th anniversary of the signing of the EAEU Treaty, adding the progressive development of economic cooperation within the Union. The deepening of Eurasian integration goes in line with global trends, taking into account the national interests of our countries

“We are trying to jointly overcome challenges, jointly solve difficult economic tasks. As a result, we see that the Union has already established itself as a center of economic attraction and has found its worthy place in the modern world economy. Our success is also evidenced by the growing interest of third countries in the Union. We observe a positive trend towards the expansion of the number of observer states and the conclusion of trade agreements, which confirms the attractiveness and significance of our integration model,” Akylbek Zhaparov said.