Kyrgyzstan is keen to boost economic cooperation with Pakistan to achieve mutually beneficial outcomes, declared Kyrgyz Ambassador Ulanbek Totuiaev. Talking to the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Monday, he stated that the geostrategic location of Kyrgyzstan offered immense business opportunities to Pakistan.
“Pakistan is a gateway for Central Asian countries for better market access to the outside world,” he said. The envoy pointed out that Kyrgyzstan capital Bishkek had successfully hosted the second Kyrgyz-Pakistan business forum titled “Pakistan and Kyrgyzstan in the Age of Socio-Economic Integration” in October 2021.
He said that his embassy was interested in organising another KyrgyzPakistan business forum in collaboration with the ICCI in Islamabad or Bishkek to bolster business linkages between private sectors of the two countries.
He added that Kyrgyzstan was a member of the Eurasian Economic Union, a market of 180 million people, and the country was also a beneficiary of the EU’s GSP Plus. “Therefore, close economic cooperation between Pakistan and Kyrgyzstan will be highly beneficial for both countries,” he said.
He also discussed a wide range of areas for promoting trade and economic ties with Pakistan. Speaking on the occasion, ICCI President Muhammad Shakeel Munir said that Pakistan was focusing on the Central Asian bloc for trade and exports. He cited that close cooperation with Kyrgyzstan would help expand Pakistan’s market access to this important region.
Munir said that Kyrgyzstan was rich in hydroelectric power generation and it could cooperate with Pakistan in the field. “Pakistan can export many products to Kyrgyzstan including marble and granite, pharmaceuticals, textiles, surgical instruments, food products, sports goods, leather products, IT and engineering goods,” Munir highlighted.
He stressed that Kyrgyzstan should increase imports from Pakistan to provide good quality products to its public at competitive prices. Munir pointed out that both countries had massive potential to cooperate in the tourism sector for mutual benefit. He announced that the ICCI would consider organising the Pak-Kyrgyz business forum in collaboration with the Kyrgyz embassy.