Published
11/13/2024, 13:34The Kyrgyz Stock Exchange currently already trades National Bank gold bars, but the plans to expand trading include larger bars. Despite some ongoing organisational difficulties related to storage and logistics, progress is evident, especially after the state became a KSE shareholder.
Nurbek Elebayev, a member of the KASE Board of Directors, is confident of the significance of this project for the country's economy. He emphasises that this is not just the creation of an exchange, but the creation of all the necessary infrastructure for transparent and efficient trading of precious metals. This will help provide gold and silver producers with stable sales of their products, attract foreign investors and stimulate the development of domestic jewellery and processing enterprises. As a result, Kyrgyzstan will be able to reduce its dependence on imports and increase the added value of domestically produced goods.
The international context also favours the development of this market. The entry into force of the EAEU agreement on trade in precious metals and the BRICS initiatives to create a single precious metals exchange open new opportunities for Kyrgyzstan. Active participation in these processes will allow the country to take a more favourable position in the global market, gain access to modern trading standards and strengthen its position in this strategically important industry. Thus, the precious metals market development is seen as a key factor in the economic growth of Kyrgyzstan.