Foreign Trade impact on economy of Kyrgyz Republic

Ilgiz Chekirov

Bachelor's thesis

Abstract:

This thesis features the specifics of the foreign economic processes impact on the development of the country's own economy. The analysis findings of the foreign trade impact on the economy of the Kyrgyz Republic allow making the following conclusions: 1)The borders open for imports have adversely affected the country's own industry and agriculture. Local goods cannot compete with imports. 2)The requirements of the integration unions (EAEU, WTO) preclude from introducing preferences for the country's own producers and adequately protecting the country's own production. 3)The protracted development period of the domestic economy, which relies on re-export, adversely affects the development of the country's own industry. 4)The state fails to adequately employ the opportunities provided by the membership in such integration associations as the WTO, the EAEU, as well as the preferences under the GSP+ program to build its own economy. 5)Inadequate government efforts to combat smuggling and counterfeit imports undermine the foundations of its own economy and boosts corruption. The thesis presents the following recommendations on leveraging foreign economic aspects for the development of the country's own economy: 1)Import substitution issues should be resolved as part of cooperation processes between the EAEU member states, rather than within Kyrgyzstan. 2)In order to enhance partners' trust, Kyrgyzstan should demonstrate its commitment to combat gray imports, thereby showing joint responsibility to protect the entire EAEU market. 3) The state should support the domestic businesses that already have experience in, and knowledge of, foreign markets. 4)Promote the development of high-performance production by reducing customs duties on the import of new technological equipment. 5)Enter the technological chains or value added chains of partner countries' successful businesses, which maintain stable sales in various foreign markets. 6) The services sphere, namely tourism, recreation, leisure, should be prioritized, among others, for export capacity development.

Keywords

foreign trade, development, import, export, foreign markets

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 15. 3. 2021

Obhajoba závěrečné práce

• Vedúci: doc. Ing. Lubomír Civín, CSc. MBA

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme / odbor:
Economics Policy and Administration / Business Administration