Kyrgyz-Chinese Business Forum plays key role in expanding cooperation between countries

Bishkek, June 13, 2019. / Kabar /. The Kyrgyz-Chinese Business Forum plays a key role in expanding cooperation between the two countries in the field of trade and investment, First Vice Prime Minister of Kyrgyzstan Kubatbek Boronov told opening the Kyrgyz-Chinese Business Forum.
The first vice premier noted that this business forum was timed to coincide with the state visit of Xi Jinping and the chairmanship of the Kyrgyz Republic in the Shanghai Cooperation Organization (SCO).
"It should be noted that after Xi Jinping’s concept of joint construction of the Silk Road Economic Belt, Kyrgyz-Chinese relations reached a new level, there is active interaction both at the government level and between the business circles of Kyrgyzstan and China. In this regard, the holding of the Kyrgyz-Chinese business forum plays a key role in expanding cooperation between the two countries in the field of trade and investment," said Boronov.
Speaking about trade and economic cooperation, the First Vice Prime Minister noted that the volume of foreign direct investment from China in 2018 amounted to USD 338 million 92.6 thousand.
"However, these figures do not reflect the entire potential of bilateral cooperation. There are all necessary prerequisites and conditions for this: between the governments of the Kyrgyz Republic and the People's Republic of China, agreements on economic cooperation, on encouraging and mutual protection of investments, on avoidance of double taxation and prevention of tax evasion have been signed and are effective," he stressed.
Boronov said that conditions have also formed in Kyrgyzstan that can positively affect the cost of production, such as the liberal tax regime, electricity tariffs, the presence of skilled labor and other favorable conditions.
"The above factors allow foreign investors to be active in our country, to attract new technologies and to receive economic benefits from the invested funds," he said.