Issyk-Kul, Aug. 20, 2021. / Kabar /. The third Kyrgyz-Russian business forum was held on the coast of Issyk-Kul lake, aimed at strengthening and expanding cooperation between the business communities of the Kyrgyz Republic and the Russian Federation.
The business forum has become an effective platform for establishing partnerships between Russian and Kyrgyz companies in the field of agriculture and logistics, tourism, and the development of resource-saving and digital technologies. Among the participants were representatives of the Kyrgyz Stock Exchange (KSE), who took an active part in business negotiations with Russian trading exchanges.
During a separate session of the business forum, KSE President Medet Nazaraliev spoke about the strategic development of the exchange market of Kyrgyzstan in the integration process of the EAEU (Eurasian Economic Union) member states.
He said that among the obvious problems hindering the more dynamic development of the financial exchange sector in Kyrgyzstan is the lack of a single trading platform for corporate Central Banks and other instruments, a low share of free-float shares in the Kyrgyz stock market and restrictions on investment in corporate securities by commercial banks. “I believe that for the further successful financial development of the Kyrgyz Republic, we need an integration transition into the single financial market of the EAEU,” Nazaraliev said.
He also noted that in order to implement this task, the KSE has developed a strategic document, the successful implementation of which will bring concrete results in the near future. “We are talking about modernizing the exchange, transferring government securities to the exchange, stabilizing trade in municipal securities on the exchange, creating a section for trading precious metals and launching the currency sector (currency pairs) on the exchange,” Nazaraliev said.
At the end of his introduction, the president of the KSE expressed the hope that the current business forum will contribute to the establishment of a mutually beneficial partnership between the KSE and the exchanges of the EAEU countries, which gives a new impetus to the development of the financial exchange market in Kyrgyzstan.
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