TEHRAN – Kyrgyzstan’s capital Bishkek is hosting the 13th Iran-Kyrgyzstan Joint Economic Committee meeting on October 19-21, during which the two sides have been discussing numerous issues regarding the expansion of trade ties.

As IRIB reported, Iran’s Agriculture Minister Mohammad-Ali Nikbakht, who is the Iranian chair of the joint committee, headed a high-ranking delegation to the country in order to meet with Kyrgyz officials and attend the meeting.

Prior to the meeting, Nikbakht met and held talks with the Kyrgyz economy and agriculture ministers and discussed ways of expanding ties in various economic sectors.

Speaking in his meeting with the Kyrgyz Agriculture Minister Askarbek Janybekov, Nikbakht said: “The value of trade between the two countries was $78 million last year and $33 million this year, which is not a significant figure considering the will of the high officials of the two countries to develop relations.”

“We are ready to take action in various fields to develop investment and trade between the two countries as quickly as possible. Iran has successful experiences in the fields of aquaculture and fisheries, modern irrigation methods, watershed management, and greenhouse products, and we are willing to provide such experience to the Kyrgyz side,” he added.

Also, after the meeting with Daniyar Amangeldiev, Minister of Economy and Commerce of the Kyrgyz Republic, the Iranian official emphasized the use of the national currencies of the two countries in trade exchanges.

Amangeldiev for his part said that the two countries’ joint economic committee is a very good opportunity to strengthen bilateral relations and it will have good results in the commercial and economic field.

Later, on the first day of the joint economic committee meeting, the businessmen of the two countries attended B2B meetings to explore the avenues of mutual cooperation in various fields.

The 12th Iran-Kyrgyzstan Joint Economic Committee meeting was held in Tehran in early December 2019.

The event was co-chaired by Iran’s former Minister of Transport and Urban Development Mohammad Eslami and Kyrgyzstan’s Minister of Transport and Roads Janat Beishenov.

In early May, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted an Iran-Kyrgyzstan business forum 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 former 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 former 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

Photo: Iranian Agriculture Minister Mohammad-Ali Nikbakht (L) and Kyrgyz Economy Minister Daniyar Amangeldiev