Russia and Kyrgyzstan have overcome the decline in mutual trade, Putin said

© RIA Novosti / Sergey Goneeverything in Photobacterium of the Russian Federation Vladimir Putin and President of Kyrgyzstan Almazbek Atambayev during an official meeting. 20 Jun 2017Russia and Kyrgyzstan have overcome the decline in mutual trade, Putin said© RIA Novosti / Sergey Goneeverything the image Bank

Russia and Kyrgyzstan managed to overcome the decline in mutual trade, the trade volume in the first quarter of 2017 increased by 23%, said Russian President Vladimir Putin.

«Noted with satisfaction that in General, we managed to overcome the decline in mutual trade caused by the unstable situation on world markets. In the first quarter the volume of bilateral trade increased by 23%,» — said Putin following Russian-Kyrgyzstani talks.

He noted that while Russian exports increased by 24% and imports from Russia by 15%. In addition, Putin stressed that more than in 2,5 times has increased the supply of food and agricultural raw materials.

«Notably, Russia continues to help the economy of Kyrgyzstan. Moreover, our financial support is mainly on a grant basis,» — said Putin.

In particular, the President noted the success of Russian-Kyrgyz development Fund in the capital of which Russia has invested $ 500 million. He noted that the Fund has directly funded 28 major projects on the territory of Kyrgyzstan, and about 700 different projects accredited through the Kyrgyz commercial banks in the framework of the program of support of small and medium business in the amount exceeding 230 million dollars.

«To support the state budget of Kyrgyzstan the Russian side annually provides $ 30 million starting in 2012, the total amount of such grants amounted to $ 255 million. Another $ 200 million was allocated to Russia for the purpose of adaptation of economy of Kyrgyzstan to the conditions of membership and the requirements of EurAsEC», — summed up the Russian leader.

Atambayev, whose powers on a post of the President ends in the fall, is in Russia on a state visit from 19 to 23 June.