Media ININ Economy We Trust
Sharjah 23-10-2019
The UAE-Kyrgyz Business Forum, held today in Sharjah, discussed partnership opportunities in the fields of trade and investment between the UAE business community and its Kyrgyz counterpart within a range of sectors of common interest.
Organized by the Ministry of Economy in cooperation with the Sharjah Chamber of Commerce and Industry and the Investment Promotion and Protection Agency of the Kyrgyz Republic, the forum stressed the importance of intensifying cooperation efforts and exploring opportunities during the next phase in the important sectors, most notably trade and investment, agriculture, food products, renewable energy, mining, tourism, infrastructure and logistics.
The forum, which was held at the Sharjah Chamber of Commerce and Industry, was attended by HE Sheikh Majid bin Faisal Al Qasimi, First Vice Chairman of Sharjah Chamber of Commerce and Industry, Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs, while the Kyrgyz delegation was led by HE Adelbekbek Ulu Shumkar Bey. Chairman of the Investment Promotion and Protection Agency of Kyrgyzstan, in the presence of His Excellency Mamatbekov Aibek, Consul General of the Republic of Kyrgyzstan in Dubai, Mohammed Ahmed Amin Al Awadhi, Director General of Sharjah Chamber, as well as representatives of a number of government agencies, the private sector and the business community in both countries.
His Excellency Abdullah Al Saleh said in his speech during the opening of the forum that the UAE and Kyrgyzstan enjoy good and growing bilateral relations, and witnessed during the past few years increasing momentum, especially in the economic, trade and investment fields, stressing that this forum is a new and vital platform to complete the bonds of cooperation and explore more From commercial and investment opportunities in the markets of the two countries, the development of fruitful partnerships at the level of the private sector and businessmen.
His Excellency pointed out that the total non-oil foreign trade between the two sides in the record in 2018 is more than US $ 1 billion.Although this rate does not reflect the aspirations and capabilities of the two countries, it confirms that we are moving in the right direction.It is more than three times what was achieved in 2017. , More than ten times what we achieved in 2016.
He expressed optimism that bilateral trade will continue to grow further in the coming years to match the productive and commercial capacities of the two countries.The UAE accounted for 60% of the total trade of Kyrgyzstan with Arab countries in 2018, a vital gateway to Kyrgyzstan’s trade with the markets of the region.
Al Saleh stressed that the UAE is keen to strengthen its economic and trade partnerships with the Central Asian region, and that Kyrgyzstan is an important destination and a promising area for investment and a prominent tourist destination in this vital region, and has the potential to play an important role in establishing sustainable and fruitful partnerships between the two sides. He pointed out that the activity witnessed by air traffic between the two countries during the past period provides an important factor in increasing trade exchanges, tourist activities and visits of commercial delegations and businessmen.
Al Saleh added that the fields of cooperation between the two countries include a wide range of sectors, most notably trade, investment and cooperation in agriculture, food products, livestock, transport, civil aviation, tourism, education and renewable energy, in addition to the halal industry and small and medium enterprises. To expand investments and projects in these sectors and promote joint work to increase trade exchanges and increase the opportunities of UAE exports to reach Kyrgyz and various Central Asian markets.
During his presentation on the investment opportunities in Kyrgyzstan, HE Adelbaek Ulu Shumkarbek invited UAE businessmen and investors to explore the promising opportunities offered by his country’s markets for partnership with the private sector in the UAE. An important opportunity to expand the scope of economic cooperation between the two countries and identify new opportunities and markets for businessmen on both sides, expressing hope that the forum will represent a new station to establish channels of long-term cooperation and bring economic benefit to both countries.
Adelbeck reviewed a number of incentives and advantages for the Kyrgyz economy, pointing out that his country is active in the field of renewable energy, especially solar energy and wind energy, and that the renewable energy sector offers opportunities for fruitful development partnerships between the two countries, pointing out that the cost of electricity production is low in Kyrgyzstan, which encourages Mega investment activities and reduces their operating cost.
He pointed out that his country includes five economic zones, and Kyrgyzstan is a gateway to huge markets, most notably Russia and the Central Asian region, as well as large fertile land provides opportunities for partnership in agricultural investment and production of high-quality crops, and has a rich mining sector promising and multi-resources, as well as potential The tourist is great because of its rich and diverse nature and its attractive climate.
For his part, His Excellency Sheikh Majid bin Faisal Al Qasimi, said that the forum, hosted by the Sharjah Chamber, came to be an interactive platform that brings together a group of officials and businessmen, as well as representatives from various government and private sectors, with the aim of working together to strengthen bilateral relations between the UAE and Kyrgyzstan and come up with steps A process to boost the level of trade exchange and investment cooperation to achieve the vision and ambitions of the leaderships of the two countries.
His Excellency called on businessmen and investors to make the most of the forum to achieve more cooperation and partnerships in various economic areas, especially agriculture, tourism, logistics, trade and investment through the advantages of both.
