Kyrgyzstan envoy calls for more economic cooperation

Official says both countries have the potential to boost bilateral trade

LAHORE: Ambassador of Kyrgyzstan to Pakistan Erik Beishembiev said Saturday that both countries should identify new sectors of the economy for cooperation and introduce new tradable items to boost mutual trade.

Talking at the Lahore Chamber of Commerce and Industry (LCCI), Beishembiev said the promotion of foreign direct investment was the top priority of the present government

“Investing in Kyrgyzstan is safe, profitable and easy,” he said in the presence of LCCI Senior Vice President Amjad Ali Jawa. “The main factors for this are the liberal trade regime, full protection of investments, unlimited repatriation of profits, currency exchange freedom, low business costs, an educated workforce and direct access to state authorities.”

The ambassador added that Kyrgyzstan attaches great importance towards the development of economic cooperation with Pakistan. “The existing trade volume between both countries does not correspond to their respective potentials. There is a dire need to take sector-specific measures to promote two-way trade,” he said.

“We have been talking about exploiting the untapped potential of trade in the Central Asian Republics, but no significant results have ever been produced,” he said. “The main issue is to transport the tradable items in the region. However, once China-Pakistan Economic Corridor gets fully operational, it will become much convenient for the countries to explore each other’s markets on a regular basis.”

Published in The Express Tribune, April 2^nd, 2017.

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