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APP
February 28, 2021

Envoy urges Pakistani businesses to seek JVs in Kyrgyzstan

Business

A
APP
February 28, 2021

LAHORE: Ambassador of Kyrgyzstan to Pakistan Erik Beishembiev on Saturday said Kyrgyz market was open to Pakistani businessmen, especially the pharmaceutical sector that offers great opportunities for establishing joint ventures.

Talking to the business community at the Lahore Chamber of Commerce and Industry (LCCI), he said investment in Kyrgyz Republic was profitable and this opportunity should be availed by Pakistani business community.

He urged for joint ventures in pharmaceutical, rice agriculture, education, tourism and various other sectors. “Kyrgyzstan is not developed in pharmaceutical sector and offers great opportunities to Pakistani pharma companies,” he reiterated.

He said Kyrgyz-Pakistani historical relations could be traced back centuries ago. “Our peoples have long-time and close cultural and spiritual ties,” he mentioned.

Speaking of direct flights, Beishembiev said regular direct flights would help improve trade and cooperation in tourism sector. The ambassador said his country was interested in developing short transportation linkages through its territory between Central Asia and China and Pakistan with access to the Gwadar and Karachi ports, using railway and automobile roads, which were being constructed in the framework of the China-Pakistan Economic Corridor (CPEC).

"Today, shortest automobile roads are connecting China to Kyrgyzstan through two border mountain passes in Kyrgyzstan - Torugart in the North and - Erkeshtam in the South, located only about 200km from Chinese city of Kashgar,” he added.

Since both countries were rich in mineral resources; had high skilled human resources; excellent opportunities for developing industry and agriculture; attracting foreign investments for joint production and supply of goods including for export, he asked to further diversify and strengthen relations.

Beishembiev said Pakistan could use Kyrgyzstan as a gateway to enter into the European Union market and could avail benefits from GSP Plus status.

LCCI President Mian Tariq Misbah appreciated the Kyrgyz ambassador for keeping good liaison with the Lahore Chamber on regular basis to find new avenues for increasing the trade and economic ties between two countries. He asserted that very few items were being traded between Pakistan and Kyrgyzstan for the last many years.

“The main reason of such a low level of two way trade which stood at 2.2 million dollars in 2019 was the little knowledge about each others markets.

Mian Tariq Misbah said that Pakistans exports to Kyrgyzstan were just 2.17 million dollars while the global imports of Kyrgyzstan were touching five billion dollars.

“There is a great scope for Pakistan to enhance its exports to Kyrgyzstan in the sectors of pharmaceuticals, value added textiles, agriculture products, surgical instruments and sports goods.

Pharmaceutical sector deserves a special mention as Pakistan has made great strides in this sector after the Covid-19 pandemic,” he said.

The LCCI president said that Kyrgyzstan could also help Pakistan to enhance its exports to the EU under the GSP Plus regime.

“We will certainly like to encourage Pakistani investors to explore joint ventures in Kyrgyzstan to promote exports to EU countries and Central Asia,” he added, while urging to make good use of CPEC to explore more markets.

“Once the Covid situation improved, both sides should plan the exchange of business delegations.”

Regular flights between the two countries would also help in improving bilateral trade,” the LCCI president said.