Kyrgyzstan has excessive hopes for the exercise of a joint fund with Azerbaijan, Vice Minister of Economy and Commerce of Kyrgyzstan Kanat Abdrakhmanov advised Trend.
“In August, Azerbaijan and Kyrgyzstan had one other assembly inside the intergovernmental fee. The protocol of this assembly
included key instructions and a consensus on making a mechanism for financing joint tasks by establishing a Kyrgyz-Azerbaijani fund with the approved capital of $25 million,” he stated.
According to the vice minister, the headquarters shall be positioned in Bishkek and it’s anticipated that the subsequent assembly of the fund’s board members shall be held within the close to future to debate additional joint financing of tasks that meet the necessities of financial feasibility, viability, reimbursement and urgency.
“We have already outlined the primary inner regulatory paperwork and decided on which areas the Kyrgyz-Azerbaijani fund will emphasize,” he stated.
According to the State Customs Committee of Azerbaijan, commerce turnover between Azerbaijan and Kyrgyzstan from January via
September 2023 amounted to $35.3 million, which is 5.9 instances extra
in comparison with the identical interval of 2022 (over $6 million).
Source : Businesslend