Kyrgyzstan’s economic week – March 4

Petrol is becoming cheaper. For the last two months of 2019, in general there is a decrease in retail prices for fuel and lubricants in Kyrgyzstan.

According to the information of the Association of Oil Traders of Kyrgyzstan, during January-February, the average price of gasoline fell by 1.5 soms or 3.5%, while the average cost of diesel fuel decreased by 1.3 soms or 2.8%.

Meanwhile, in March, in the Russian market of petroleum products the growth of selling prices for refineries resumed. The cost of gasoline for wholesale contracts with delivery increased by 3% in March, diesel fuel rose in price by 6%. Therefore, the increase in prices for fuel and lubricants is quite possible, since Kyrgyzstan receives the lion's share of export fuel from Russia.

There is no shortage of fuel. Kyrgyz oil traders fully cover the country's needs for fuel.

“Oil traders in the country continue to provide the republic with the necessary volumes of fuel and lubricants uninterruptedly. According to preliminary data, during January-February 2019, a total of 164.6 thousand tons of petroleum products were imported to the republic, including gasoline — 88.9 thousand tons, diesel fuel — 75.6 thousand tons,” the Association of oil traders of Kyrgyzstan said.

Oil traders of the Kyrgyz Republic consistently fully cover the needs of the republic in fuel and lubricants, thereby fulfilling their main task of providing Kyrgyzstan with oil products, while avoiding any deficit.

Electricity consumption. Electricity consumption in the energy system of Kyrgyzstan in February 2019 amounted to more than 1.6 billion kWh.

According to the operational data of the central dispatching service of the National Electric Grid of Kyrgyzstan, in February 2019 the electricity consumption in the Kyrgyz energy system amounted to 1 billion 653 million kWh, the National Electric Grid of Kyrgyzstan said.

In 2018, for the same period, consumption amounted to 1 billion 659 million kWh.

Finance to the regions. President of the Kyrgyz Republic Sooronbay Jeenbekov at the meeting with the heads of the Guarantee Fund OJSC, the Russian-Kyrgyz Development Fund (RKFR), Ayil Bank OJSC and RSK Bank OJSC set the task of strengthening the work on financing the regions, digitalization, and the main focus make on processing enterprises, and also pay more attention to domestic producers. At the same time, he focused on increasing investments.

In 2018, 75% of the resources of the Guarantee Fund were used to finance projects in the regions, such as processing and production of agricultural products, as well as industry.

Meanwhile, the country's financial institutions - the Russian-Kyrgyz Development Fund (RKFR), Guarantee Fund OJSC, Ayil Bank OJSC and RSK Bank OJSC increased the volumes and amounts of loans issued to regional entrepreneurs.

According to data of chairman of the RKFR, Erkin Asrandiev, at the end of 2018, this Fund approved 1,653 projects totaling $ 304 million. During 2018, the amount of approved loans increased by $ 42.4 million, and their number doubled, reaching 1,653 projects (+831 loans). During the year, 7 large enterprises were opened - for the production of building materials, a cement plant, sewing and shoe factories, a pasta production plant, etc. Such indicators were achieved jointly with partner banks that provided loans.

The second participation. 10 sewing enterprises from Kyrgyzstan took part in the 32nd international exhibition of fashion “CPM - Collection Première Moscow” in Moscow from February 25 to February 28, 2019.

According to data of the International Trade Center, Collection Première Moscow is a key business event for the fashion industry in Russia and Eastern Europe. The exhibition is held twice a year in the capital of Russia - Moscow.

More than 21 thousand professional visitors meet at the exhibition center of the Expocentre to see about 1.5 thousand collections created by international exhibitors in the segments of CPM Premium, CPM accessoires & shoes and CPM BODY and BEACH. The CPM exhibition annually confirms its importance as an international fashion exhibition. It involves international and national brands, which serves as an effective platform to see the latest collections, place orders and sign contracts, as well as get acquainted with the latest trends in fashion.

The sewing enterprises of Kyrgyzstan took part in the exhibition of this level for the second time. At the exhibition, they were represented by companies producing products under the trademarks: “Bermet”, “BelMaRo”, “Evelen”, “Larisa-Fashion”, “Credo”, “Inesse”, “Mona Liza”, “Toolai”, “Rula "," Disorelle ". The range of products was wide - women's dresses, skirts and trousers, jackets and suits, coats, evening dresses.

Invitation to "Khorgos". The delegation of the International Center for Border Cooperation “Khorgos” of Kazakhstan headed by chairman of the board Dzhazin Kaharman visited the Chamber of Commerce of Kyrgyzstan. At a meeting with the leadership of the Chamber of Commerce and Industry of the Kyrgyz Republic, he expressed interest of the Center in cooperation with the Kyrgyz business. He said that the beginning of a successful business partnership could be a visit of the business delegation of Kyrgyzstan to Khorgos.

In the near future, the Chamber of Commerce and Industry of the Kyrgyz Republic will begin to form a business mission from members of the Chamber of Commerce and Industry of the Kyrgyz Republic, which travels to Kazakhstan. Representatives of the ICBC expressed their readiness to assist in organizing a B2B meeting with Chinese companies operating in various sectors of the economy.

Khorgos Center is the International Center for Border Cooperation (ICBC) for duty-free trade between China and Kazakhstan. The center is located in the Panfilov district of the Almaty region of Kazakhstan, which is 300 km from the Kyrgyz Republic.

The population of Khorgos is about 200 thousand people, the border region, thanks to active trade, is developing dynamically. The main advantage is a visa-free regime in China for up to 30 days, which allows visiting entrepreneurs not only to find a partner company, but also to conclude mutually beneficial contracts.

Kabar News Agency