Kyrgyzstan and Turkmenistan Discuss Economic Cooperation and Development Fund
The sixth meeting of the intergovernmental Kyrgyz-Turkmen commission on trade, economic, scientific, technical, and humanitarian cooperation was held in the Issyk-Kul region of Kyrgyzstan, as reported by TuraNews.kz. The meeting, which included both narrow and expanded discussions, focused on strengthening bilateral ties and exploring new opportunities for collaboration.
During the narrow-format session, Bakyt Torobaev, the Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan and Minister of Water Resources, Agriculture, and Processing Industry, met with Annageldy Saparov, the Minister of Energy of Turkmenistan and head of the Turkmen delegation. They discussed key issues affecting bilateral cooperation between the two nations.
In the expanded meeting, participants noted a significant increase in trade turnover between Kyrgyzstan and Turkmenistan, which has grown sevenfold over the past four years. In 2023, trade between the two countries reached 64 million US dollars. The parties discussed strategies to further enhance this trade relationship.
Bakyt Torobaev highlighted the importance of creating favorable conditions for joint business activities and supporting the business community. He suggested the establishment of a bonded zone in Turkmenistan to develop trade infrastructure and improve postal operations in e-commerce. Torobaev also proposed preferential tariffs for Kyrgyz carriers and simplifying the visa process for Kyrgyz drivers to facilitate trade expansion.
The meeting emphasized the potential of the transport and logistics sector, given the geographical advantages of both countries. A proposed transport corridor from China through Kyrgyzstan and Uzbekistan to Turkmenistan, utilizing the Turkmenbashi seaport, could provide new economic opportunities and access to the Caspian Sea and the Russian Federation.
A key outcome of the meeting was the discussion on creating a Kyrgyz-Turkmen Development Fund. This fund aims to unite the business communities of both countries and promote joint ventures, further solidifying the partnership between Kyrgyzstan and Turkmenistan.
