The Kyrgyz-German Business Forum, “Day of German Business”, will be held today in Bishkek. The economic forum is a collaboration
The Kyrgyz-German Business Forum, “Day of German Business”, will be held today in Bishkek.
The economic forum is a collaboration between the delegation of German business for Central Asia, the National Investment Agency of Kyrgyzstan and the Kyrgyz Ministry of Foreign Affairs. The event provides opportunities for German and Kyrgyz companies to expand bilateral business cooperation in agriculture, energy, tourism and technology.
Bilateral relations with Germany play a central role in Kyrgyzstan’s EU policy. Kyrgyz-EU economic relations have become more important to Kyrgyzstan as Russia’s invasion of Ukraine has strained the Central Asian country’s economy, weakening its currency the som. This has caused a drop in remittance levels from Russia which makes up 31.3 % of Kyrgyzstan’s GDP in 2020.
Expect Kyrgyz-German business ties to strengthen as Kyrgyzstan seeks to attract more German investments in infrastructure, agriculture and energy. Although Kyrgyzstan’s recent constitutional referendum was noted as an overreach of power by President Sadyr Japarov, Kyrgyzstan’s relatively democratic character compared to its neighbors potentially allows for deeper cooperation with Brussels. In the long term, German-Kyrgyz business ties will likely open Kyrgyzstan to infrastructure development and trade ties with the EU, allowing Kyrgyzstan to diversify from its economic reliance on Russia.
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