the share of the ruble in commercial transactions in Russia and Kyrgyzstan reached 83% – Kommersant

Russia and Kyrgyzstan are actively moving to mutual trade in national currencies, President Vladimir Putin said following negotiations with Kyrgyz President Sadyr Japarov. According to Mr. Putin, the share of the ruble in commercial transactions has reached 83%.

“Our countries are actively switching to national currencies in trade settlements and building stable channels of credit and banking cooperation. As a result, the share of the ruble in counter commercial transactions reached an impressive 83%,” the president noted.

In addition, as Vladimir Putin reported, last year bilateral trade increased by 37%, reaching a record. In the first half of 2023, according to the president, trade volume increased by almost 18%.

The President recalled that Russia is the largest investor in the Kyrgyz economy: a third of all accumulated foreign investments in the country are Russian investments. In addition, 800 Russian-Kyrgyz enterprises operate in Kyrgyzstan, and within the framework of a bilateral development fund, fully financed by Russia, $520 million was invested in the Kyrgyz economy for 3 thousand joint projects.

Vladimir Putin arrived to Kyrgyzstan this morning for negotiations with Sadyr Japarov. Before the meeting, Vladimir Putin laid a wreath at the memorial to those killed during the Central Asian Uprising of 1916 at the Ata-Beyit complex in Bishkek. The leaders attended an event in honor of the 20th anniversary of the opening of the Russian military air base in Kant.