Bilateral Trade Between Türkiye And Kyrgyzstan Increases By 55% In H1 2022
A combination of the Belt and Road Initiative, the development of improved transport corridors and a demand rebound after covid has seen bilateral trade between Türkiye and Kyrgyzstan increase by over 55% in H1 2022.
The National Statistical Committee of Kyrgyzstan has stated that Kyrgyzstan’s trade turnover with Türkiye in the first half of 2022 reached US$292.4 million, an increase of 61.6% compared to the same period last year (2021).
Kyrgyzstan’s exports to Türkiye amounted to US$72.3 million, effectively doubling. Kyrgyzstan mainly exported oil and petroleum products, lead, cotton, vegetables and beans, and fruits and nuts.
Turkish exports to Kyrgyzstan from January to June reached US$220.1 million, an increase of 50.7% compared to the corresponding period last year. Türkiye exports mainly jewellery, light rubberized knitted fabric, and packaged medicaments.
Türkiye is developing as a logistics hub between Asia and Europe, and is also negotiating a free trade agreement with the Eurasian Economic Union, which includes Kyrgyzstan in addition to neighboring Armenia, Belarus, Kazakhstan, and Russia. Bilateral trade with Kyrgyzstan is assisted by road and rail from Kyrgyzstan to Kazakhstan, then by ship from the Kazakh Caspian Sea port of Aqtau through to Azerbaijan’s Baku Port and via rail to Türkiye. Illustrating this and related trade, Kazakhstan’s Caspian Sea Ports showed increases of freight volumes doubling during the same period.
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