(MENAFN) The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) recently hosted a business forum between Iran and Kyrgyzstan with the aim of expanding their trade relations. The event was attended by officials from both countries, including the ICCMA 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 Kyrgyz ambassador to Tehran. During the forum, Shafeie highlighted that Kyrgyzstan is a priority for Iran's private sector when it comes to developing economic cooperation. However, the existing transportation and financial restrictions have made it difficult to increase the level of trade between the two countries.
Shafeie also referred to Iran's preferential trade agreement with the Eurasian Economic Union (EAEU) and the growth of economic and trade relations of the countries in this union with Iran. He expressed hope that this successful experience would continue with the newly reached free trade agreement. The ICCIMA head pointed out that the current annual trade between Iran and Kyrgyzstan stands at around $80 million, which is not satisfactory given the two countries’ potential for economic cooperation.
Kyrgyzstan is an active participant in global economic interactions and a member of the EAEU and the Shanghai Pact. Shafeie identified that cooperation in the field of transportation and financial exchanges can be realized in the form of a comprehensive agreement with the members of the mentioned treaties. The forum was an opportunity for both countries to explore ways of increasing bilateral trade in the future.
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