Kyrgyzstan hopes to expand its ties with European banks through cooperation with Albania

Kyrgyzstan regards the development of relations with Albania as one of the opportunities for strengthening cooperation with European financial institutions. This was stated by Sagynbek Abdumutalipov, Head of the Foreign Policy Department of the Kyrgyz President’s Administration, during a briefing following the official visit of the President of Albania, Bayram Begaj.

According to him, Bishkek is interested in establishing correspondent banking relationships between Kyrgyz and European banks to simplify international business payments.

“Our banks, particularly the state-owned ones, are successfully entering the European market. This year, Ail Bank and Eldik Bank successfully placed Eurobonds worth $500 million. In this regard, the establishment of correspondent accounts between European and Kyrgyz banks is considered a very pressing issue for both us and them,” he said.

Abdomutalipov noted that Kyrgyz businesses are keen to have stable channels for international payments.

“Our businesses want this; our entrepreneurs want bank transfers to be carried out smoothly and without disruption,” he emphasised.

According to a representative of the Presidential Administration, the Albanian President’s visit should be viewed in the context of Kyrgyzstan’s broader policy of expanding cooperation with European states.

He recalled that this is the first official visit by an Albanian President to Kyrgyzstan in nearly 32 years of diplomatic relations between the two countries. Until now, interaction has been largely limited to contacts within international organisations and diplomatic correspondence.

The parties are considering the economy, tourism, transport, digitalisation and the banking sector as promising areas for cooperation.