Iran, Kyrgyzstan Explore Trade Expansion at Business Forum
(MENAFN) The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted an Iran-Kyrgyzstan business forum on Monday, bringing together representatives of the two countries' private sectors to explore ways of expanding trade ties. The event was attended by officials from both sides, including the ICCIMA Head Gholam-Hossein Shafeie, President of the Chamber of Commerce and Industry of the Kyrgyz Republic T.A.Sariev, Iran's ambassador to Bishkek, and the Kyrgyz ambassador to Tehran.
Speaking at the forum, Shafeie emphasized that Kyrgyzstan is a special priority of Iran's private sector for the development of economic cooperation. He noted, however, that transportation and financial restrictions have made it difficult to increase the level of trade between the two countries. Despite these challenges, Shafeie expressed hope that the forum would help to identify new opportunities for trade expansion.
Referring to Iran's preferential trade agreement with the Eurasian Economic Union (EAEU) and the growth of economic and trade relations between EAEU countries and Iran, Shafeie expressed optimism that this successful experience will continue with the newly reached free trade agreement. He highlighted the importance of the EAEU as a major trade partner for Iran and the potential for further cooperation in the region.
Shafeie noted that the two countries' annual trade is currently at about $80 million, a level that is not satisfactory given the potential for economic cooperation between the two sides. He emphasized the need for greater efforts to promote trade and investment between Iran and Kyrgyzstan, noting that the private sector has a critical role to play in this regard.
Overall, the Iran-Kyrgyzstan business forum is a positive development for both countries as they seek to expand economic cooperation and trade ties. Despite the challenges posed by transportation and financial restrictions, the forum provides an opportunity for representatives of the private sector to identify new opportunities for trade and investment. As Iran continues to promote non-oil exports and attract foreign investment, the potential for increased economic cooperation with Kyrgyzstan and other countries in the region is expected to grow in the coming years.
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