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Sunday April 14, 2024

Kyrgyzstan offers investment to Pakistan traders

By Our Correspondent
April 01, 2024
A citizen waves a Kyrgyz flag during a rally in Bishkek. — AFP/File
A citizen waves a Kyrgyz flag during a rally in Bishkek. — AFP/File

LAHORE: Ms Asel Begmatova, head of department of external relations ministry of economy and commerce Kyrgyzstan, Sunday offered a basket of incentives to facilitate Pakistani entrepreneurs and investors to inject in joint ventures.

She was talking to a Pakistan traders’ delegation led by Consul General of Kyrgyzstan in Pakistan Meher Kashif Younis currently touring Kyrgyzstan for two weeks to study the scope of further strengthening the bilateral trade and promotion of exports between the two sides.

Dr Shahid Hassan, President Kyrgyzstan Trade House, was also present on the occasion as member of the delegation. Ms Begmatova in her briefing emphasised that joint ventures will not only cater to Kyrgyz needs but also generate profits of investors with sovereign guarantees. She said, “Our welcoming stance towards Pakistani entrepreneurs and investors signifies a mutual desire to strengthen economic ties and foster bilateral cooperation by providing ample support and assistance, Kyrgyzstan aims to create an environment conducive to investment and business collaboration. The emphasis on joint ventures underscores the importance of partnerships that leverage the strengths and resources of both nations. Collaborative efforts between Pakistani and Kyrgyz businesses hold the potential to tap into diverse markets, capitalize on comparative advantages, and drive economic growth.”

Our assurance of facilitating investments in areas of choice reflects Kyrgyzstan's recognition of the importance of encouraging investors, especially from Pakistan to take full advantage of ample opportunities that align with their interests and expertise.

By offering flexibility and support, Kyrgyzstan seeks to attract diverse investments that contribute to the country's development while also benefiting investors, she added. Ms Begmatova said the emphasis on garnering profits underscores the pragmatic approach to attract investments that yield tangible returns.

By prioritising profitability, Kyrgyzstan aims to create sustainable partnerships that endure beyond short-term gains and foster long-term economic prosperity, he added. Other Kyrgyz officials Takirov Urmat, Director Centre for Development and Promotion of Exports, Ministry of Economy and Commerce, Tilek Zhumaliev, Head of the Export Promotion Department, Export Centre Asel Turgunbaeva, an expert of the department of international cooperation Ministry of Economy and Commerce, gave comprehensive briefing on various future projects and discussed the prospects of several proposals.

Leader of Pakistan traders’ delegation Meher Kashif Younis, who is also President Kyrgyzstan Trade House in Lahore, highly appreciated the goodwill gesture and said it underscores Kyrgyzstan's commitment to fostering a conducive environment for investment and business collaboration with Pakistan.

Through open dialogue, support mechanisms, and a focus on mutual benefits, both countries stand to capitalise on the opportunities by joint ventures, thereby contributing to economic growth, job creation, and enhanced bilateral relations, he said.