New Trade Hub Strengthens Kyrgyz-China Economic Ties

A new Kyrgyz-Chinese Trade and Economic Cooperation Center has officially opened in Chongqing, a major industrial and transportation hub in southwest China.

According to Kyrgyzstan’s Ministry of Economy and Commerce, the 300-square-meter facility will serve as a platform for bilateral business cooperation, The Caspian Post reports, citing The Times of Central Asia.

Kyrgyz entrepreneurs will be able to register their companies and conduct business activities in China free of charge.

Also on September 26, Chongqing hosted the opening of Kyrgyzstan’s Trade Pavilion, which will showcase and sell national products such as honey, alcoholic beverages, confectionery, and handicrafts.

China remains one of Kyrgyzstan’s most important trade partners, with an increasing share of transactions now carried out in Chinese yuan. Earlier this year, Kyrgyzstan’s state-owned Eldik Bank become the first bank in Central Asia to join China’s Cross-Border Interbank Payment System (CIPS). The system enables direct and instant settlements in yuan with Chinese partners and other participants, bypassing intermediaries and reducing transaction costs. Eldik Bank officials said the move would expand business opportunities and deepen bilateral economic ties.

Trade between Kyrgyzstan and China surged by 44.7% in 2024, reaching $5.3 billion, according to Kyrgyz government statistics. Exports from Kyrgyzstan to China grew dramatically to $2.04 billion, 93 times higher than in 2023. China also remained Kyrgyzstan’s largest foreign investor, accounting for 23.9% of total foreign direct investment (FDI) in 2024, valued at $872.6 million.