Kyrgyz envoy urges exploring JVs

Says Pakistan can enhance exports to EU and Central Asia through Kyrgyzstan

ISLAMABAD:

Kyrgyzstan is keen to develop strong trade and economic ties with Pakistan as both sides have great potential to diversify and expand bilateral trade in many areas, said Ambassador of Kyrgyzstan to Pakistan Erik Beishembiev.

While addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI), he stated that Kyrgyzstan provided Pakistan with the shortest route to Central Asia as its goods could reach his country from Kashgar (China) within three days. The envoy added, “Pakistan could also enhance its exports to the EU under the GSP Plus regime through Kyrgyzstan.”

“Pakistani investors should explore joint ventures in Kyrgyzstan to promote exports to EU countries and Central Asia.” He informed the business community that Kyrgyzstan was interested in buying medical equipment from Pakistan as Pakistan has made good progress in this field after the Covid-19 outbreak.

The ambassador apprised that a business forum of Kyrgyzstan would be organised in November in Lahore that would provide an opportunity to the private sectors of both countries to further strengthen their business linkages. He identified mining, industry, agriculture, banking, textile production, pharmaceuticals, joint ventures for the processing and sale of agricultural products as the most promising areas for bilateral cooperation between Pakistan and Kyrgyzstan.

The envoy said the inauguration of CASA-1000 was planned this year, but the Covid-19 pandemic has caused its delay. “Kyrgyzstan has weekly flights from Pakistan for its students and was considering launching regular flights between the two countries that would help in improving bilateral trade as well,” he added.

Also speaking on the occasion, ICCI President Sardar Yasir Ilyas Khan said Pakistan and Kyrgyzstan were enjoying friendly and cordial relations at the political level that should be transformed into growing trade and economic relations between the two countries.

He said the current volume of bilateral trade between the two countries was quite nominal and emphasised that strong efforts from both sides were needed to improve it. Khan stressed that both countries should focus on establishing direct linkages between their private sectors to explore all untapped areas of mutual cooperation.

The ICCI chief said Pakistani products were very competitive with affordable prices and emphasised that the Kyrgyzstan embassy should share information about its major imports so that Pakistani exporters could make efforts to export those products and capture a better market share in Kyrgyzstan.

He added that ICCI was in the process of discussing some avenues either in Pakistan or Kyrgyzstan to bring the business community of both countries at a single platform so that they could interact and explore prospects for further enhancing bilateral trade.

Khan said Pakistan and Kyrgyzstan should consider signing a free trade agreement and address all trade barriers between the two countries in order to boost trade and exports.

Published in The Express Tribune, November 1^st, 2020.

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