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SEPTEMBER 5, 2017 THE KYRGYZ-UZBEK BUSINESS DIALOGUE HELD IN BISHKEK

05.09.2017
SEPTEMBER 5, 2017 THE KYRGYZ-UZBEK BUSINESS DIALOGUE HELD IN BISHKEK

Today, September 5, 2017 in Bishkek, the Kyrgyz-Uzbek Business Dialogue was held with the participation of a delegation from Uzbekistan comprising representatives of the Ministry of Foreign Trade, the State Committee for Investments, the Chamber of Commerce and Industry of the Republic of Uzbekistan, more than 20 companies of this country, and the Ministry of Economy of the Kyrgyz Re- public, the State Agency for Investments and Export Promotion under the Ministry of Economy of the Kyrgyz Republic and the business community of the Kyrgyz Republic and the Republic of Uzbekistan.

Addressing the welcoming speech, the Minister of Economy of Kyrgyzstan, Artem Novikov, cordially greeted all participants of the Kyrgyz-Uzbek business dialogue, representatives of state organizations, representatives of the business community and guests of today's event.

According to him, Uzbekistan is our closest neighbor, a country with a rich past and, I believe, a great future. Uzbekistan is famous for its great scientists and statesmen such as Abu Ali ibn Sina known as Avicenna, Mirzo Ulugbek, Omar Khayyam, Al Beruni, Zahiriddin Muhammad Babur, Amir Temur and many other world-famous personalities.

Modern Uzbekistan is associated with great achievements in such areas as automobile and machine building, progressive medicine, biotechnology, pharmaceutical industry, as well as the highest achievements in the textile industry.

The Kyrgyz Republic attaches special importance to the development of closer trade and economic relations with the Republic of Uzbekistan. In the structure of trade turnover of the Kyrgyz Republic, Uzbekistan occupies 4,4%, incl. in exports - 6.6%, imports - 3.6%.

In 2016, the trade between Kyrgyzstan and Uzbekistan totaled $ 192.3 million, an increase of 14.9%, but this is not the limit.

Taking into account the intensification of our trade and economic relations, the beginning of which was laid by the presidents of the two countries in Samarkand in December 2016 and fixed by the Prime Ministers of the two countries in August this year, in the coming years we expect further growth of mutual trade and implementation of joint, mutually beneficial investment projects.

To further strengthen the already established trade and economic relations between Uzbekistan and Kyrgyzstan, and to use the existing potential, we must jointly carry out the necessary measures to develop trade, investment, scientific and technological cooperation

It's time to make our relations more meaningful, "Minister A.Novikov emphasized. He also called for considering the possibilities of investing in priority areas for the two countries such as: the garment industry, processing of agricultural products, tourism, engineering and medicine, in which we have a huge potential and where Uzbekistan already has a lot of experience and achieved significant achievements.

Promotion of an active and constructive trade and economic dialogue between Kyrgyzstan and Uzbekistan is undoubtedly important not only in the bilateral aspect, but also of great importance for cooperation in matters of multilateral cooperation.

Our countries and the whole region of Central Asia can receive significant benefits from the development of trade. Trade is vital for the development of our economies. Central Asia has good potential both for intra-regional and inter-regional trade.

In this regard, the head of the Ministry of Economy of the Kyrgyz Republic noted that Kyrgyzstan has significant experience in developing trade relations and participation in integration associations of regional and global importance. Kyrgyzstan is the first Central Asian country to join the WTO in 1998, so we have extensive experience and a developed legal field in the field of trade relations with foreign countries.

In 2015, Kyrgyzstan officially joined the Eurasian Economic Union with a population of over 180 million people, where a zone of unimpeded movement of goods, services, capital and labor operates. Currently, the Unified Energy System is 3.2% of world GDP, one of the world's largest markets, or 2.5% of the world's population, the largest territory in the world (more than 20 million sq km).

In January 2016, the European Union formally granted the Kyrgyz Republic the right of the Generalized System of Preferences (GSP +). Products of Kyrgyzstan for more than 6000 commodity items that meet the requirements of the EU can be imported from Kyrgyzstan to the EU member states with a market of more than 400 million people. without customs duties.

Moreover, Kyrgyzstan occupies a very important strategic location, being geographically the first stop on the way from China to Central Asia, which plays a significant role in the development of trade cooperation within the framework of the "China-Central Asia-West Asia" economic corridor.

In addition, in recent years significant reforms have been made in Kyrgyzstan to create a favorable investment and business environment.

The country has the most liberal tax regime. The income tax and income tax rates are 10%, VAT 12%.

A norm has been introduced that provides a "stabilization regime" for creating stable and predictable conditions for investors.

Kyrgyzstan has a stable basis for developing the potential of public-private partnership (PPP): a legislative base has been created; institutional framework.

For the development of tourism and attracting investments in 2012, amendments were made to the legislation, in part was adopted the Law "On the introduction of a visa-free regime for citizens of 61 states for up to 60 days."

According to the Doing Business report of the World Bank in 2015, the Kyrgyz Republic ranked 9th position on the ease of opening a business. It should also be emphasized that, according to the indicator "Protection of investors", the Kyrgyz Republic ranks first among the countries of the Commonwealth of Independent States

Currently, after the activation of trade and economic cooperation, there are already significant results in the framework of strengthening trade cooperation between our countries, and I am confident that we will consolidate these results by signing relevant documents during the official visit of the President of the Kyrgyz Republic Almazbek Atambayev to Tashkent, measures to enhance investment cooperation between our countries, so that for this visit we could also declare the implementation of joint, mutually beneficial projects.

Considering the above, in particular the experience and achievements of Uzbekistan in the above sectors, the work done by Kyrgyzstan to increase sales markets and improve access to them, as well as the creation of a liberal economic environment, we have good opportunities for closer cooperation.

We highly appreciate the significance of today's event and hope that this event will serve as a good impulse for the promotion of mutual ideas and goals for the development of long-term cooperation between the businesses of our countries.

The Ministry of Economy, in particular the State Agency for the Promotion of Investments and Export, is a body for the protection and promotion of investments, and we are ready to act as guarantor in case of your coming to Kyrgyzstan.

In the end, the Minister expressed his confidence that joint efforts could realize even the most complex, most ambitious projects and the hope for long-term and fruitful  cooperation.

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