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Russian-Kyrgyz trade and economic cooperation

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Russia is Kyrgyzstan's main trade partner. In 2010, the volume of bilateral trade reached $1.38 billion. In January 2011, it totaled $71.3 million (16.3% less than in the same period in 2010), with Russian exports accounting for $55.6 million, and Russian imports amounting to $15.6 million. Russia accounts for 18% of Kyrgyzstan's trade volume.

Russia's main export goods to Kyrgyzstan are oil products (55%), food products, chemicals, cars, equipment, vehicles, wood, cellulose and paper goods, metals and metal products. Kyrgyzstan's main imports are textiles, vegetables and fruit.

At the 11th meeting of the Russian-Kyrgyz intergovernmental commission for trade, economic, scientific, technical, and humanitarian cooperation held on February 27, 2010 the two states signed a programme for economic cooperation for 2010-2013, and approved an action plan involving over 60 events targeted at establishing mutually beneficial ties in major sectors of the Russian and Kyrgyz economy.

Kyrgyzstan currently has 11 enterprises either completely or partially owned by Russia such as Gazprom Neft Asia, Kara Balta Ore Mining Combine, Orlovka Chemical and Metallurgical Plant, Tyan-Shan-Olovo, Tekhnopromexport, Megakom, and more.

Gazprom, the largest Russian gas monopoly, and the Kyrgyz government are developing successful cooperation in the oil and gas sphere. In May 2003, the sides signed a long-term cooperation agreement. A memorandum of intent stipulating the creation of a joint venture to modernise and expand the republic's oil and gas sector was signed in January 2006. An agreement on the general principles of geological prospecting operations at potential oil and gas deposits was signed in May 2007. A geological prospecting investment project is currently underway.

In October 2008, the Kyrgyz government and Gazprom signed a memorandum of understanding on cooperation in the privatisation of the government's stake in Kyrgyzgaz. A draft of intergovernmental agreement on cooperation in privatisation of the said share package is being prepared.

As of January 1, 2011 Kyrgyzstan owed $502.7 million in state loans to Russia.