Kyrgyzstan, Saudi Arabia discuss expansion of economic ties

AKIPRESS.COM - First Deputy Prime Minister Kubatbek Boronov and Minister of Environment, Water Resources and Agriculture of the Kingdom of Saudi Arabia Abdulrahman bin Abdulmohsen Al-Fadley discussed the expansion of bilateral cooperation in trade and economic sphere and activation of interaction between business circles of the two countries. Boronov said that in recent years there has been a positive trend of growth in trade turnover, however, the volume of bilateral trade does not correspond to the economic potential of two countries. "Taking this into account, it is necessary to make additional efforts in order to develop and deepen cooperation for the expansion of trade and economic relations between the Kyrgyz Republic and the Kingdom of Saudi Arabia," he said.
First Deputy Prime Minister said that the government is currently paying attention to improving the investment climate, supporting the private sector, eliminating administrative restrictions, reducing barriers and improving legislation in the field of entrepreneurship. Free economic zone "Bishkek" working in the regime of tax and customs privileges will be interesting for entrepreneurs from the Kingdom of Saudi Arabia. Low prices for electricity and rich water resources facilitate the process of production establishment.
"Kyrgyz side supports the idea of holding a Kyrgyz-Saudi investment forum," he said.
Minister E.P.Abdurakhman bin Abdul-Muhsin Al-Fadli, for his part, noted the great opportunities for further close cooperation between the two countries.
Abdulrahman bin Abdulmohsen Al-Fadley proposed to hold an exhibition on tourism and infrastructure of the Kyrgyz Republic in the Kingdom of Saudi Arabia in order to get acquainted with the country's tourism opportunities.
As a result of the discussion, the parties reached an agreement on environmental protection, water supply, agriculture, energy, education, Islamic affairs, business meetings, fairs of universities, development of cooperation in the field of "Halal-Industry", etc. At the end of the meeting of the joint Kyrgyz-Saudi committee, the co-chairs of the parties signed a protocol.