INDIA TO CONSIDER SIGNING AN INDUSTRIAL COOPERATION MOU WITH KYRGYZ REPUBLIC
MOOKHERJEE TO LEAD FIEO DELEGATION TO KYRGYZSTAN
PROTOCOL OF INDO-KYRGYZ JOINT COMMISSION SIGNED
Date : 06 Nov 2003
Location : New Delhi
India has agreed to consider signing an Industrial Cooperation Memorandum of Understanding with the Kyrgyz Republic. This would give an impetus in promoting industrial relations and increased business-to-business level interaction between the two countries. This was indicated by Shri S.B.Mookherjee, Minister of State for Commerce & Industry and leader of the Indian delegation, while signing the protocol of the 3rd session of the Indo-Kyrgyz Joint Commission here today evening. Mr. S. M. Djienbekov, Minister of Foreign Trade & Industry, signed on behalf Kyrgyz Republic. Shri Mookherjee will lead a delegation from Federation of Indian Export Organisations (FIEO) to Kyrgyz Republic in January next year to promote trade and economic relations and explore new areas of cooperation.
Both the sides noted that, the present volume of bilateral trade does not reflect the potential that exist, though in recent years there was a movement towards diversification and deepening of trade and economic links between the two countries. The Kyrgyz side welcomed Indian gesture of gifting of a Potato processing plant to be set up in Talas province of Kyrgyzstan. It was informed that a 3-member team from India visited Kyrgyzstan in July this year to prepare a techno-feasibility report in this regard. Kyrgyz side indicated their interest in attracting Indian investments in priority sectors like energy, mining, light industry etc. Both the sides felt that increased frequency of flights between Bishkek and New Delhi would not only lead to greater tourist flows but also movement of business travelers.
The two sides noted that there was a good scope for improvement in bilateral scientific cooperation and recommended conclusion of a new Programme of Cooperation in Science & Technology identifying specific joint research projects and other scientific activities and finalizing the financial terms. Indian side proposed to develop cooperation in the fields of Glaciology, Geology and High Altitude Medicine. Both sides agreed to take necessary measures to ensure sustainable growth and continued diversification of bilateral trade.