Results of the Trade and Economic Session between the Republic of Uzbekistan and the Kyrgyz Republic

December 13, 2017 Chamber of Commerce and Industry of the Republic of Uzbekistan jointly with the Ministry of Foreign Trade of the Republic of Uzbekistan, within the framework of the official visit of the President of the Kyrgyz Republic Sooronbai Jeenbekov to the Republic of Uzbekistan, the Trade and Economic Session between the Republic of Uzbekistan and the Kyrgyz Republic was organized, with the participation of business circles of the two countries.

More than 100 Kyrgyz companies took part in the event in the areas of machine building, construction, food, packaging, light industry, information technology.

The purpose of the event was to promote the establishment and expansion of trade ties between the entrepreneurs of the two countries, the growth in the number of new joint ventures and the increase in bilateral trade.

During the session it was noted that over the past period of 2017 the volume of trade between Uzbekistan and Kyrgyzstan increased by more than 60%. This is evidence that entrepreneurs of the two countries are expanding the horizons of cooperation not only in the sphere of mutual trade, but also in implementing joint promising projects in Kyrgyzstan and Uzbekistan.

During the plenary discussion in the format "Government and Business" on the topic: "Prospects for the development of cooperation between countries, legislative aspects and business environment" business entities were able to get answers from the heads of relevant ministries and departments of both countries, in the field of creating joint ventures, implementing investment projects, as well as on the granted preferential treatment for taxation and customs duties.

Within the framework of the forum, an agreement was signed between the Ministry of Foreign Trade of the Republic of Uzbekistan and the Ministry of Economy of the Kyrgyz Republic on the development of cooperation in trade finance, joint plan of practical actions ("Road map") on development of trade-economic, investment and transport-communication cooperation between the Republic of Uzbekistan and the Republic of Kyrgyzstan for 2017-2019. Moreover, an action plan ("Roadmap") was signed to implement the provisions of the Cooperation Agreement between the Chamber of Commerce and Industry of Uzbekistan and the Chamber of Commerce and Industry of the Republic of Kyrgyzstan.

As a result of the session, about 60 contracts were signed for a total amount of about 140 million US dollars. It is important to note that the signed documents and agreements on various areas of cooperation will create a firm basis for the entrepreneurs of our countries to build up and realize the existing potential of bilateral cooperation.

Representatives of the delegation of the Kyrgyz Republic also visited the exhibition of products of the Republic of Uzbekistan.