Kazakhstan invests $1 billion in Kyrgyzstan for six years

Kazakhstan has invested $1 billion in Kyrgyzstan for six years, Tengrinews.kz news agency quotes the Kazakh Ministry of Economic Development and Trade as saying.

“Kazakhstan has invested around $1 billion in economy of Kyrgyzstan for 2006-2011. In this period staff of the government machine was reduced by 20 percent, new evaluation methods of state agencies are implemented, licenses are reduced as well as state services,” the Kyrgyz Minister of Economic Affairs and Antitrust Policy Temir Sariev said during official meeting with the Minister of Economic Development and Trade of Kazakhstan.

According to Temir Sariev, the Ministry of Economic Affairs and Antitrust Policy of Kyrgyzstan has worked out many draft laws including creation of the State Development Bank. “The State Development Bank will allot funds for implementation of priority-oriented state programs,” he summed up.

The meeting of Ministers of both countries took place in Astana. They discussed major directions of economic growth, set priorities of further interaction and cooperation. Temir Sariev underlined significant role of Kazakhstan, as the trade and economic partner, in the foreign trade system of Kyrgyzstan as well as fast-moving development of trade and economic relations between two countries. Finally, Ministers noted constructive course of cooperation between two countries thanking to friendly relations.