INDIA, KYRGYZSTAN TO ENHANCE TRADE TIES
3RD INDO-KYRGYZ JOINT COMMISSION MEETING BEGINS
Date : 04 Nov 2003
Location : New Delhi
India and Kyrgyzstan have stressed the importance of enhancing trade and investment ties between the two countries so as to raise the current bilateral trade level. A Focus: CIS Programme launched this year, of which Kyrgyzstan is one of the countries being covered, to strengthen India’s trade and economic relations with the CIS region, is expected to give a big boost to the trade and investment flows between the two countries. This was indicated at the inauguration of the 3rd session of the Indo-Kyrgyz Joint Commission meeting, by Shri S. B. Mookherjee, Minister of State for Commerce & Industry, and leader of the Indian delegation and Mr. S. M. Djienbekov, Minister of External Trade and Industry, and leader of the Kyrgyz delegation, here today.
Shri Mookherjee in his inaugural address said that the economic ties between two countries had improved perceptibly and noted that the bilateral trade in 2002-03 increased to US $ 15.12 million as compared to US $ 11.48 million during the previous year. India’s exports to Kyrgyzstan increased by 35.57% at US $ 14.65 million as compared to US $ 10.97 million in 2001-02. Mr. Djienbekov gave a brief overview of his country’s economy, which is in a transitory phase and said that Kyrgyzstan offered a liberal investment regime. He asked Indian investors to invest in Kyrgyzstan in potential areas like mining, energy, food processing, tourism and information technology. By encouraging business level contacts including that of exchange of trade information the two countries could look forward to enhancing the trade and economic ties, both the Ministers noted.
The 3-day meeting is expected to discuss prospects of trade and economic cooperation, scientific and technological cooperation, cooperation in the filed of tourism between the two countries. The Working Group on Trade and Economic Cooperation is also having detailed discussion on many areas. The Protocol of the agreed minutes of the Joint Commission would be signed on 6th November.