Islamabad: Kyrgyzstan wants to further enhance trade relations with Pakistan as both countries have good potential to boost bilateral trade and complement each other’s economy, said Mr. Kubanychbek Toktorbaev Charge d’Affaires, Embassy of Kyrgyzstan during his visit to Islamabad Chamber of Commerce & Industry.
He said Pak-China Economic Corridor is a very significant project for Pakistan as well as for Kyrgyzstan as it would link Kashgar to Gwadar by railway and road links and would facilitate connecting Pakistan with Kyrgyzstan as Kashgar and Bishkek are already connected through a strong road link.
Thus in the next five years, this Economic Corridor would provide access to Pakistan to Central Asia through Bishkek and open up new avenues of business opportunities for both countries.
He said that Kyrgyzstan has made liberal business laws and offers cheap power as cost of electricity is Rs. 0.75 /Kwh while it is Rs.1.5/Kwh for industrial and commercial consumer, which make it an attractive country to do business with.
He said Pakistani entrepreneurs should take benefit by exploring business opportunities in Kyrgyzstan. They could also get easy access to huge Russian and Central Asian markets by promoting trade ties with Kyrgyzstan.
Mr. Kuban said that Kyrgyzstan is an agrarian country and wants to develop close linkages with Pakistan in the field of agriculture. He identified education, tourism, culture as other potential areas of mutual cooperation.
He said Pakistani textile products, utensils and cutlery are very popular in Kyrgyzstan and Pakistan has great scope to enhance export of these items to his country.
He said Kyrgyz government is giving priority to foreign direct investment and has established a Free Economic Zone in Bishkek which offers special incentives to attract foreign investors. He invited Pakistan investors to explore Kyrgyzstan for investment.
In his welcome address, Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that Pakistan and Kyrgyzstan are two brotherly Islamic countries and their geographical locations make them potential trade partners.
He stressed that both countries should focus on promoting bilateral trade. The best way to tap all untapped areas of mutual cooperation is to facilitate private sectors of both countries in establishing direct links and enhance exchange of business delegations.
He said establishing direct air links are critical for improving trade and both countries should make serious efforts to promote direct connectivity.
He said textiles, oil and gas exploration, hydropower generation, light engineering and financial sectors are also potential areas for mutual cooperation. He assured that ICCI would continue to work closely with Kyrgyz Embassy for improving trade and economic relations between Pakistan and Kyrgyzstan.