Omar1984
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Karakoram Highway : Kyrgyzstan likely to establish road links for improving trade
ISLAMABAD: Kyrgyzstan is working on possibilities to establish direct road links with Pakistan through Karakoram Highway for further improving bilateral trade relations between the two countries.
Ambassador of Kyrgyz Republic, Bektur Asanov expressed these views during a meeting with businessmen at Islamabad Chamber of Commerce & Industry (ICCI) here on Monday.
He informed that negotiations to this effect were in process with China. "With the development of direct communication channels, bilateral trade would increase by 10 times between Pakistan and Kyrgyzstan," he said.
Both countries have signed a total taxation agreement to protect mutual investments and expected that it would boost the confidence of investors and enhance bilateral business and investment activities between the two countries. He said Pakistani textile products are very popular in Kyrgyz republic and called upon Pakistani businessmen to look for setting up textile industries in Kyrgyzstan.
He said Kyrgyzstan had now shifted its focus from Western world to South Asia as it perceived for itself great business and trade potential in this region. He said that in a bid to promote two-way trade, an exhibition dedicated to Pakistani products was being arranged in Bishkek in January and invited Pakistani businessmen to ensure their maximum participation in that exhibition. The concept of this exhibition was to attract attention of Kyrgyz customers to the high quality and vast variety of Pakistani products, he added.
Speaking on the occasion, President ICCI, Zahid Maqbool, said although Pakistan and Kyrgyzstan enjoy friendly and cordial relations and were tied together under the umbrella of Economic Cooperation Organization (ECO) and Organization of Islamic Conference (OIC), but the business and economic relations between the two countries did not correspond to their respective potentials and joint efforts were needed to improve them for mutual benefits.
He said Pakistan is a highly profitable investment destination as it offers unlimited investment potential in different sectors of its economy, which is supported by good incentives for investors including a liberal trade regime, full protection of investments, unlimited repatriation of profits, an educated workforce and direct access to state authorities. To take advantage of these opportunities, Kyrgyz businessmen should redouble their efforts to explore investment opportunities in Pakistan, he emphasised.
He identified textiles, oil and gas exploration, hydropower generation, light engineering and financial sectors as potential areas for mutual cooperation between the two countries. He lauded the initiative of starting direct flights between Islamabad and Bishkek, which would facilitate greatly in enhancing exchange of trade delegations and promoting people-to-people contacts for strengthening bilateral trade and economic relations. staff report
ISLAMABAD: Kyrgyzstan is working on possibilities to establish direct road links with Pakistan through Karakoram Highway for further improving bilateral trade relations between the two countries.
Ambassador of Kyrgyz Republic, Bektur Asanov expressed these views during a meeting with businessmen at Islamabad Chamber of Commerce & Industry (ICCI) here on Monday.
He informed that negotiations to this effect were in process with China. "With the development of direct communication channels, bilateral trade would increase by 10 times between Pakistan and Kyrgyzstan," he said.
Both countries have signed a total taxation agreement to protect mutual investments and expected that it would boost the confidence of investors and enhance bilateral business and investment activities between the two countries. He said Pakistani textile products are very popular in Kyrgyz republic and called upon Pakistani businessmen to look for setting up textile industries in Kyrgyzstan.
He said Kyrgyzstan had now shifted its focus from Western world to South Asia as it perceived for itself great business and trade potential in this region. He said that in a bid to promote two-way trade, an exhibition dedicated to Pakistani products was being arranged in Bishkek in January and invited Pakistani businessmen to ensure their maximum participation in that exhibition. The concept of this exhibition was to attract attention of Kyrgyz customers to the high quality and vast variety of Pakistani products, he added.
Speaking on the occasion, President ICCI, Zahid Maqbool, said although Pakistan and Kyrgyzstan enjoy friendly and cordial relations and were tied together under the umbrella of Economic Cooperation Organization (ECO) and Organization of Islamic Conference (OIC), but the business and economic relations between the two countries did not correspond to their respective potentials and joint efforts were needed to improve them for mutual benefits.
He said Pakistan is a highly profitable investment destination as it offers unlimited investment potential in different sectors of its economy, which is supported by good incentives for investors including a liberal trade regime, full protection of investments, unlimited repatriation of profits, an educated workforce and direct access to state authorities. To take advantage of these opportunities, Kyrgyz businessmen should redouble their efforts to explore investment opportunities in Pakistan, he emphasised.
He identified textiles, oil and gas exploration, hydropower generation, light engineering and financial sectors as potential areas for mutual cooperation between the two countries. He lauded the initiative of starting direct flights between Islamabad and Bishkek, which would facilitate greatly in enhancing exchange of trade delegations and promoting people-to-people contacts for strengthening bilateral trade and economic relations. staff report
