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Kyrgyzstan|business|November 22, 2019 / 09:39 AM
Kyrgyzstan, Turkey should remove all obstacles for bilateral trade target of $1 billion: Vice president

AKIPRESS.COM - Turkish and Kyrgyz business people should improve bilateral relations and turn opportunities into projects, the Turkish vice president said on Thursday.

The two countries should remove all obstacles and make new cooperation for the bilateral trade target of $1 billion, Fuat Oktay noted during the Turkey-Kyrgyzstan Business Forum in Istanbul, Anadolu reports.

The forum was organized by the Foreign Economic Relations Board (DEIK), the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Turkish Exporters' Assembly (TIM).

The bilateral trade was $424 million in 2018 and $326 million in the first nine months of this year, he reminded.

Oktay said these figures are far from the trade potential of the two countries.

While Turkey's investments in Kyrgyzstan -- including in the third countries -- reached $1 billion, Kyrgyz investments are too low in Turkey, the vice president stressed.

"The two countries' businesspeople have a key role for improving trade and economic relations," Oktay underlined.

Just in the mining sector, countries have business opportunities worth billions of U.S. dollars, he noted.

While the world growth expectations fall, Turkey remains to be a safe port for foreign investors, added Oktay.

"We have an extensive incentive system and we invite Kyrgyz investors to benefit from these incentives by making more investments," he said.

He also said the Joint Economic Cooperation protocol, which will be signed on Friday between the two countries, will remove obstacles and create new cooperation areas.

Touching on economic relations between Turkic Republics, he noted the realization of the $1.1 trillion trade potential will benefit prosperity, peace, and development both in the region and the world.

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