June 14, 2019, 18:17
Bishkek, June 14, 2019. /Kabar/. "We perceive today's event as a significant event in the development of trade and economic relations between Kyrgyzstan and India," Kyrgyz President Sooronbay Jeenbekov said at the Kyrgyz-Indian Business Forum.
The Business Forum is held as part of the official visit of Indian Prime Minister Narendra Modi to Kyrgyzstan.
"People, who make a huge contribution to the development of the two countries, are here today. India and Kyrgyzstan have a particularly strong political relationship. Our doors are always open to brotherly Indian partners and we are always happy to meet them. In 2018, the volume of trade turnover between our countries amounted to USD 37 million. I consider that we do not fully use the existing potential for t cooperation in trade," Jeenbekov said.
"I would like to note that the Kyrgyz side is ready to increase the volume of exports of organic products. I urge Indian investors and foundations to cooperate closely. We have defined the creation of favorable conditions for investors as a priority, and a number of measures have been taken in this direction," the Kyrgyz leader said.
Jeenbekov noted that Kyrgyzstan has created all the favorable condition for business.
"The assets of investors and their private property are reliably protected in Kyrgyzstan. They are inviolable, and the Kyrgyz state guarantees it. Kyrgyzstan has the most liberal tax regime in the Central Asian region. Agricultural producers and trade and logistics centers are completely exempt from profit tax. The value-added tax for enterprises processing agricultural raw materials produced in Kyrgyzstan is only two and a half percent," Jeenbekov said.
"Tariff and non-tariff restrictions have been removed, which means that products manufactured in Kyrgyzstan will have an advantage over products manufactured in third countries. Foreign investors can benefit from inexpensive and skilled labour and cheap electricity. Our country has a visa free regime for more than 58 countries for 60 days," Jeenbekov said.
The Kyrgyz leader said that electricity sector is of interest to Indian businessmen. "We have a lot of projects for the construction of hydroelectric power plants, sources of clean energy," he added.
The President urged the businessmen of the two countries to conduct negotiations successfully.