BISHKEK, Kyrgyzstan, September 28. A state-owned Trading Company has been established in Kyrgyzstan with full government funding, as reported by Trend. This initiative, led by the Ministry of Economy and Commerce, aims to oversee trade flows involving Kyrgyz companies, especially for products that do not physically enter the country.
The company’s primary goal is to regulate trade activities, serving as a mechanism to monitor financial transactions linked to these trades. Its tasks include facilitating international trade, supervising currency transfers, managing currency risks, and ensuring financial stability.
In response to this, the National Bank of Kyrgyzstan recently imposed a one-year restriction on financial organizations, prohibiting payments for goods and services that do not involve physical delivery in Kyrgyzstan, except for authorized state companies designated by the Cabinet of Ministers.
The newly established trading company is permitted to conduct trade operations without actual delivery, requiring companies previously engaged in such practices to conduct transactions through this entity. This move is intended to streamline trade processes, boost regulatory oversight, and collaborate with commercial banks without limitations.