INDIA, KYRGYZSTAN TO ENHANCE TRADE
TIES 3RD
INDO-KYRGYZ JOINT COMMISSION MEETING BEGINS
India and Kyrgyzstan
have stressed the importance of enhancing trade and investment
ties between the two countries so as to raise the current bilateral
trade level. A Focus: CIS Programme launched this year, of which
Kyrgyzstan is one of the countries being covered, to strengthen
India’s trade and economic relations with the CIS region, is expected
to give a big boost to the trade and investment flows between
the two countries. This was indicated at the inauguration of the
3rd session of the Indo-Kyrgyz Joint Commission meeting,
by Shri S. B. Mookherjee, Minister of State for Commerce &
Industry, and leader of the Indian delegation and Mr. S. M. Djienbekov,
Minister of External Trade and Industry, and leader of the Kyrgyz
delegation, here today.
Shri Mookherjee in
his inaugural address said that the economic ties between two
countries had improved perceptibly and noted that the bilateral
trade in 2002-03 increased to US $ 15.12 million as compared to
US $ 11.48 million during the previous year. India’s exports to
Kyrgyzstan increased by 35.57% at US $ 14.65 million as compared
to US $ 10.97 million in 2001-02. Mr. Djienbekov gave a brief
overview of his country’s economy, which is in a transitory phase
and said that Kyrgyzstan offered a liberal investment regime.
He asked Indian investors to invest in Kyrgyzstan in potential
areas like mining, energy, food processing, tourism and information
technology. By encouraging business level contacts including that
of exchange of trade information the two countries could look
forward to enhancing the trade and economic ties, both the Ministers
noted.
The 3-day meeting
is expected to discuss prospects of trade and economic cooperation,
scientific and technological cooperation, cooperation in the filed
of tourism between the two countries. The Working Group on Trade
and Economic Cooperation is also having detailed discussion on
many areas. The Protocol of the agreed minutes of the Joint Commission
would be signed on 6th November.
