UAE to actively explore investment opportunities in Kyrgyzstan

Bishkek, June 1, 2022. /Kabar/. The Ala-Archa state residence hosted on Wednesday a bilateral meeting between Minister of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiev and Minister of Economy of the United Arab Emirates (UAE) Abdulla Bin Touq Al Marri. During the meeting, Amangeldiev welcomed his counterpart from UAE and the foreign delegation. He also expressed condolences on the passing of UAE President Khalifa bin Zayed Al Nahyan. Daniyar Amangeldiev noted that bilateral cooperation between Kyrgyzstan and the UAE currently covers a wide range of political, socio-economic, cultural, humanitarian and scientific and technical cooperation issues. "The Cabinet of Ministers of Kyrgyzstan in general pays great attention to improving the investment climate, the private sector, elimination of administrative restrictions, reduction of barriers for investors and improvement of legislation regulating business activities," he added. The Kyrgyz economy minister expressed hope that the Emirates will actively explore investment opportunities in Kyrgyzstan in order to carry out its activities in the country, including the study of free economic zones, which have preferential tax and customs regimes. There is an opportunity to establish trade and logistics centers and joint enterprises of food industry, development of cooperation in the Halal-industry. In turn, Abdulla Bin Touq Al Marri expressed interest in the implementation of joint plans to develop cooperation and increase trade and economic turnover between the two countries. Confirming the mutual interest in expanding bilateral relations, the sides also discussed practical steps to discuss ways to expand trade, economic and investment cooperation between the Kyrgyz Republic and the UAE and implementation of a number of joint activities - projects in PPP, agriculture, energy, tourism and several other areas. The importance of the activities of the Kyrgyz-Emirati Intergovernmental Commission for Economic Cooperation was emphasized. In January-March 2022, trade turnover between the two countries amounted to USD 17.2 million and, compared to the same period of 2021, increased 2.6 times, including export – USD 13.1 million (an increase of 3.2 times), import – KGS 4.1 million (an increase of 68.4%). The volume of exports increased due to the supply of telephone sets.