BISHKEK, October 12. /TASS/. Russia and Kyrgyzstan are actively switching to national currencies in mutual trade - the ruble share now accounts for 83% of commercial transactions, Russian President Vladimir Putin said on Thursday.

"Our countries are actively shifting to national currencies in trade settlements, while also establishing stable credit and banking cooperation channels. As a result, the ruble's share of mutual commercial transactions rose to an impressive 83%," he said.

Putin stated that bilateral trade turnover increased by 37% last year and reached record levels. He also stated that the volume of mutual trade increased by nearly 18% in the first half of this year.

He recalled that Russia is the largest investor in Kyrgyzstan's economy, accounting for one-third of total foreign investments in the country. At the same time, approximately 800 Russian-Kyrgyz businesses operate in Kyrgyzstan. Putin mentioned that they work in critical industries such as energy, mining, mechanical engineering, agriculture, and transportation.