In the Iran-Kyrgyzstan Business Forum at ICCIMA, Head of ICCIMA Gholam-Hossein Shafei said that Kyrgyzstan is special priority of Iran’s private sector for broadening economic cooperation but restrictions in transportation and money transfer have made difficult increase of trade level.

He then pointed to the preferential trade agreement of Iran and the EAEU and good economic relation growth with the EAEU states and expressed hope this successful experience will continue with next steps in free trade agreement.

Shafei noted that although Iran and Kyrgyzstan have witnessed rise in trade in the past two years and their annual trade is now around $80m, the figure does not match their economic capacities.

The ICCIMA head pointed to Kyrgyzstan’s active participation in global economic interactions and the country’s membership in EAEU and the Shanghai Pact and said: “Cooperation in the field of transportation and financial exchanges can be realized in the form of a comprehensive agreement with the members of the mentioned treaties.”

He further expressed the Iranian private sector’s readiness for active cooperation with their counterparts in Kyrgyzstan, noting that for realizing the economic goals set for the two nations, obstacles in the way of trade must be removed.

Then President of the Chamber of Commerce and Industry of the Kyrgyz Republic T.A.Sariev, for his part, referred to Iran’s high capacity for economic cooperation and noted that the level of commercial exchanges between the two countries is insufficient.

“Despite the problems and financial exchange restrictions, I believe that Iran has opened its way out of the sanctions. Kyrgyzstan can also be with Iran in this direction. By knowing more about the business opportunities of the two countries, we can find new ways to increase the level of business cooperation,” he added.

He noted that representatives of 40 Kyrgyz companies are accompanying him to Tehran to participate in the IRAN EXPO 2023, adding that Kyrgyz economic activists hope they can find their Iranian trade partners in the exhibition for joint investment and cooperation.

He reiterated that Kyrgyzstan has good opportunities for joint investment because productions in this country can be used in Kyrgyzstan and also be exported to China, Tajikistan, Uzbekistan and other Central Asian countries.

Then Kyrgyzstan Ambassador to Tehran Turdakun Sydykov, for his part, said that Kyrgyz traders in Tehran are after identifying capacities of Iran and this expo is the first step, adding that he expects such an expo to be held in Kyrgyzstan.

He then invited Iranian companies to come to Kyrgyzstan and to launch joint production line, adding that there are a large number of opportunities as the country is an EAEU member and it has preferential tariffs with Eurasia for over 1000 items of goods and therefore the opportunity for cooperation is available.

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In the meeting, Shafei pointed to the historic relation between Iran and Kyrgyzstan and said the prospect of economic interaction between the two countries is bright. He went on to say that despite talks and agreements between the two countries in the past, no constructive action has been taken for defining standards for economic cooperation between the two states, adding that the ground is ready and this should be materialized.

He noted that definition of these standards are very important for both parties in their interactions and exchanges and will pave the road for future investments. He stated that due to good water resources in Kyrgyzstan, the ground is favorable for cooperation of both countries in agriculture.

Shafei also pointed to some restrictions on course to economic exchanges between Tehran and Bishkek and stipulated that one of the problems for economic interaction is the lack of a proper banking relation, and repeatedly it has been recommended Iranian banks to open their branches in Kyrgyzstan in order to resolve the problems of Iranian investors and traders.

He added that lack of issuing banking guarantees is another problem in the field of exporting technical and engineering services of Iranians to Kyrgyzstan, adding that considering the regional developments like Eurasia and using Russian banking system, issuance of banking guarantees can reach a favorable point.

Shafei also pointed to the significance of direct flights between Iran and Kyrgyzstan for broadening interactions between the two states, expressing hope that with efforts of the two states, the direct flight between the two countries would be re-launched and announced support of Iran Chamber of Commerce.

He also said that Iran needs serious cooperation in the field of rail transportation and if it is provided and in some seasons of the year Kyrgyzstan provides its trade wagons, then exchange of goods between the two countries will happen with better prices and the ground for broadening trade ties will be provided.

Shafei noted that membership in the EAEU and the SCO has created good condition for investors and in case both countries make most out of this condition, the volume of their trade cooperation will enhance.

Then Governor of Osh Mr. Jamaledinov, for his part, said that Kyrgyzstan attaches great respect for Iranians who intend to invest in Kyrgyzstan, adding that tax and related issues is very simple and it is not complicated and this is a good opportunity for investors.

He noted that Kyrgyzstan is in good condition in terms of electricity resources and he thinks energy is cheaper and therefore it has economic efficiency, reiterating that Kyrgyzstan is cheaper comparing to other states and it provides good opportunity for investment.

Then Kyrgyz Ambassador to Tehran Mr. Turdakun Sydykov, for his part, announced readiness of the embassy for cooperation with Ira Chamber of commerce. He added that the embassy has eased visa issuance and there will be no problem any longer, stating that today both countries can issue visas upon arrival at the port and urged Iran to restore this condition.

Touching upon the launch of direct flight between Iran and Kyrgyzstan, he said that an airliner has reached agreement and it has been decided one flight per week to be launched.

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Head of Iran Chamber of Commerce, Industry, Mine and Agriculture (ICCIMA) Gholam-Hossein Shafei in meeting with Ambassador of Kyrgyzstan to Tehran Turdakun Sydykov which was held in Mashhad announced readiness of Iran’s private sector for developing trade exchanges with Kyrgyzstan which was welcomed by the Kyrgyz side.

In the meeting, Shafei said that broadening economic activities and foreign trade ties with the neighboring and regional countries is of the main priorities of Iran’s government and private sector, and in this regard, Kyrgyzstan enjoys having a special place. He termed Mashhad as the point for developing economic activities of Iran and Kyrgyzstan and said that in the early days after the independence of Kyrgyzstan, the first Iranian trader who entered Kyrgyzstan was from Mashhad. He hailed the regulations in Kyrgyzstan which are based on the free economy and said it is a strong point for the Kyrgyz economy and it is considered a valuable capacity for attracting investment and even it has been reported that Kyrgyz officials are to review the current regulations for the excellence of their economy.

Shafei went on to say that in recent years many Iranian investors have invested in Kyrgyzstan and they have launched several production units and it seems with the current condition, Iran would see economic interactions with this Central Asian state. He said the trade volume of the two countries is considerable and there are good potentials for cooperation between the two states in the fields like mining, agriculture and small and medium sized industries.

He also hailed the efforts of Kyrgyz Ambassador to Tehran for broadening economic activities between the two states.

Then Sydykov, for his part, pointed to the 30-uear diplomatic relations between Tehran and Bishkek and said Kyrgyzstan and Iran have many cultural commonalities and expressed hope that soon, both countries would hold exhibitions or gatherings on the occasion of the 30th anniversary of Iran-Kyrgyzstan diplomatic ties.

He also said Khorasan Razavi Province as one of the most economic developed areas of Iran has special role in the relations of the two countries and Mashhad has been the first Iranian city where the Kyrgyz traders have entered it and this city has a key role in developing economic relations between the two countries.

Sydykov then said that Kyrgyz economy is currently a growing and dynamic one and investors from the world and especially from the neighboring and friendly country of Iran have massive presence and Bishkek is ready for joint economic cooperation with Iran.

He said his country is ready for cooperation with Iran for broadening cooperation through direct cooperation with Iran’s private sector in the infrastructural projects like in construction and construction of dam and hydro power stations.

He then called for the launch of direct flight between Mashhad and Bishkek and announced readiness of Kyrgyz government for supporting foreign investors.

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