TEHRAN – Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted an Iran-Kyrgyzstan business forum on Monday in which the representatives of the two countries’ private sectors explored ways of expanding trade ties.

As reported by the ICCIMA portal, the event was attended by officials from the two sides including the ICCMA Head Gholam-Hossein Shafeie, President of the Chamber of Commerce and Industry of the Kyrgyz Republic T.A.Sariev, Iran’s ambassador to Bishkek and Kyrgyz ambassador to Tehran.

Speaking at the forum, Shafeie said Kyrgyzstan is a special priority of Iran's private sector for the development of economic cooperation; however, transportation and financial restrictions have made it difficult to increase the level of trade.

Referring to Iran's preferential trade agreement with the Eurasian Economic Union (EAEU) and the growth of the economic and trade relations of the countries of this union with Iran, he expressed hope that this successful experience will continue with the newly reached free trade agreement.

The official put the two countries’ annual trade at about $80 million, noting that this level of trade is not satisfactory considering the two sides’ capacities for economic cooperation.

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.

Elsewhere in the gathering, Sariev 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.

EF/MA