Published
08/16/2025, 11:32The VII Kyrgyz-Russian Economic Forum, held on August 13–15 in Cholpon-Ata on the shore of Issyk-Kul, concluded with notable success for both Kyrgyzstan and Russia. Its theme, “Digital Sovereignty as a Driver of Economic Growth,” became a benchmark for a new format of cooperation and reflected Kyrgyzstan’s strategic focus on technological independence.
The event began with official greetings from the leaders of both countries — Sadyr Japarov and Vladimir Putin — which were delivered by their representatives, Azamat Kadyraliev and Igor Maslov.
In his address to the forum participants, Sadyr Japarov highlighted Kyrgyzstan’s steady economic growth, averaging 9% per year since 2022. This, he noted, positions the Republic as a leader within the CIS and the EAEU.
The head of state emphasized that the partnership with Russia is one of the factors contributing to this success. As an example, he cited the growth in mutual trade, which rose by 25% to a record 3.9 billion USD in 2024. Sadyr Japarov also highlighted the significant increase in Kyrgyzstan’s exports to the Russian market (+40%). He noted that this is a key indicator, showing that Kyrgyzstan is not limited to the role of a consumer market for EAEU member states.
Today, the Republic functions as a full-fledged supplier, despite the fact that not everyone believed this would be possible when it joined the union in 2015.
A significant, if not key, role in achieving these results was played by the Russian-Kyrgyz Development Fund, established to support Kyrgyzstan’s economy and facilitate its integration into the EAEU.
Russian President Vladimir Putin specifically highlighted the importance of the fund’s activities in developing bilateral relations. According to him, it is largely thanks to the active work of the Russian-Kyrgyz Development Fund, which has financed over 3,500 projects totaling more than 900 million USD, that modern industrial enterprises and social facilities are being built across Kyrgyzstan’s regions and cities, creating tens of thousands of jobs.
The Kyrgyz-Russian Economic Forum itself is also an initiative of the Russian-Kyrgyz Development Fund, which is hosting it for the seventh time this year, with the support of the Roscongress Foundation.
“We do not intend to stop at what has been achieved. The Russian-Kyrgyz Development Fund is transforming from a traditional credit institution into a multifunctional economic development center. By the end of the year, we plan to enter the Republic’s stock market, opening new opportunities for businesses and investors. Our goal is to develop retail investment mechanisms that allow citizens to participate in company capital through mobile applications, while enabling local producers to attract investments from the public. This will help mobilize internal savings of up to 400 million USD and create a class of domestic investors. In turn, the fund is ready to co-finance projects through the stock exchange with approximately 100 million USD by 2030,” — said Artem Novikov, Chairman of the Russian-Kyrgyz Development Fund, at the forum’s opening.
Explaining the choice of the theme “Digital Sovereignty” for this year’s forum, he noted that in the context of geopolitical turbulence and structural changes in the global economy, digital sovereignty has become the foundation of economic security and sustainable development. According to him, every dollar invested in digital transformation generates up to 20 USD of added value in GDP — six to seven times more than investments in traditional industries.
“Such data requires us to adopt a systematic approach to shaping the region’s digital landscape. But what exactly is digitalization? It cannot be seen or touched. Digitalization is, first and foremost, an environment in which trust is formed. Today, no significant decision can be made without trust, just as deep economic transformations cannot take place without citizens’ confidence in the state and the institutions implementing them,” — emphasized the head of the Russian-Kyrgyz Development Fund.
As part of its development strategy, the fund plans to implement a set of strategic initiatives in the field of digitalization.
The theme of digital sovereignty was a recurring topic in the speeches of key speakers. First Deputy Prime Minister Daniyar Amangeldiev cited examples of national digital projects that are already delivering tangible results. In particular, the “Digital Kyrgyzstan” program simplifies business registration and management through online services, reduces bureaucratic barriers, and increases the transparency of government services. Another priority is “Startup Kyrgyzstan,” a platform for youth entrepreneurship and innovation that stimulates job creation and the development of technological solutions.
“What is particularly a source of pride is the success of the High Technology Park. By the end of 2024, it had around 500 registered residents—a 24.5% increase compared to the previous year. The residents’ revenue exceeded 11.5 billion KGS, with 94% of their products destined for export. This is a vivid example of how the digital economy is becoming a driver of growth and exports,” — noted Daniyar Amangeldiev.
Digital sovereignty was also called an essential condition for economic stability and security by Russian Deputy Prime Minister Alexey Overchuk.
“This is a path to new opportunities. The Eurasian Economic Union has everything necessary to fully realize them,” — he stated, adding that the EAEU countries have agreed to work together on the safe and responsible use of artificial intelligence.
The highlight of the forum was the signing of around 30 agreements totaling 270 million USD, covering sectors such as industry, energy, agriculture, aviation, transport, the digital economy, and education.
Among the most significant projects were:
In addition, during the event, memorandums and agreements were signed in the fields of energy, metallurgy, infrastructure and agriculture, adding new joint ventures to the “portfolio.” Notably, over the past two years, the number of companies with Russian capital in Kyrgyzstan has grown by 70%, reflecting investors’ sustained interest in the Republic.
Each agreement signed at the forum serves as a clear illustration of the cooperation mechanism: Russian capital, Kyrgyz demand, and institutional intermediaries in the form of the Russian-Kyrgyz Development Fund, banks, and state-owned enterprises.
The VII Kyrgyz-Russian Economic Forum confirmed the positive dynamics of bilateral relations, highlighting priorities in digital transformation, investment activity, and integration initiatives.
It is also worth noting the position of the EEC Minister for Integration and Macroeconomics, Arzybek Kozhoshev, expressed at a scientific conference dedicated to the 10th anniversary of Kyrgyzstan’s membership in the EAEU. He emphasized that the Republic has progressed from “adapting to the rules” to “actively shaping the EAEU agenda.” The recent forum served as direct confirmation of his words — Kyrgyzstan is shaping the integration agenda by using digitalization, industrial cooperation, and energy development as tools for economic growth.
Beneath the official rhetoric, the main informal message was clear: “We need you, and you need us.” Symbolically, this year’s forum was the largest in its history, bringing together over 1,000 participants and more than 100 companies, demonstrating a strong level of interest in developing bilateral partnership.
