The governments of the UAE and Kyrgyzstan have agreed to strengthen their economic cooperation and enlarge the scope of their business and investment partnerships in various sectors.
The partnership areas include agriculture, food security, food industries, energy, renewable energy, information technology, innovation, tourism, culture, logistical transport, industry, entrepreneurship, Islamic finance, Islamic securities, banking services, and education, according to the statement.
Mr. Abdullah bin Touq Al Marri, UAE Minister of Economy, said that the deep-rooted bilateral ties between the UAE and Kyrgyzstan are witnessing significant overall development, most notably in economic, commercial, and investment areas.
The Economy Minister also highlighted the recent mutual high-level official visits between the two sides supported by the keenness of their leadership to reinforce their relations.
Mr. Al Marri made this statement during the meetings of the second edition of the joint economic committee between the two countries, which was held in Abu Dhabi.
The meetings witnessed the signing of several Memorandums of Understanding (MoUs) between the two sides in several areas, including in industry, renewable energy, and the food sector. The committee also agreed to facilitate export and import procedures between the two countries.
Mr. Al Marri stated that the UAE was Kyrgyzstan’s leading trade partner in the Gulf Cooperation Council (GCC) region in 2021. Their non-oil trade exchange amounted to more than $999 million (AED3.67 billion) over nine months in 2022, an increase of 66 percent compared to the same period in 2021.
Mr. Akylbek Japarov, Chairman of the Cabinet of Ministers of Kyrgyzstan, noted that the meetings were successful, and the two sides reached agreements that would strengthen their cooperation in investment, trade, economic, tourism, and agricultural areas.
The committee also discussed strengthening future cooperation in the areas of energy and renewable energy and capitalizing on the UAE’s relevant expertise, which would ensure a sustainable future for the energy sectors of both countries. The two sides also agreed to begin phase one of a 200-megawatt photovoltaic solar power plant in Kyrgyzstan.
Under the framework of supporting the UAE’s vision to invest in new economic sectors, the committee discussed potential investment opportunities in the areas of technology, industry, cybersecurity, artificial intelligence, innovation, and manufacturing.
Furthermore, the committee also agreed to enhance the tourism cooperation between the UAE and Kyrgyzstan in the areas of travel, aviation, and hospitality, as well as increase the number of tourists and flights between the two countries.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
