Turkiye and Kyrgyzstan set ambitious trade goals with a fresh action plan, targeting a trade volume of $5 billion.
In a significant step towards enhancing bilateral relations, Turkey and Kyrgyzstan have signed a 12th-Term Joint Economic Commission (JEC) Protocol. The ceremony took place in Bishkek, the Kyrgyz capital, with Turkish Vice President Cevdet Yılmaz and Kyrgyz Cabinet of Ministers Chairman Adylbek Kasymaliev in attendance.
The protocol covers a wide range of areas, including bilateral trade, industry, energy, transportation, agriculture, education, healthcare, and culture. This comprehensive agreement aims to boost economic and trade relations between the two countries.
Turkey is already a significant player in Kyrgyzstan's economy, with more than 2,000 Turkish companies operating in the country. Turkish contractors have implemented 95 projects to date, totalling around $1 billion. Turkey's Vice President, Yılmaz, expressed hope that commercial and economic relations between the two countries will soon reach even higher levels, reflecting their brotherly bond.
The new action plan serves as a joint roadmap, setting concrete goals and identifying new areas of work across sectors. Collaborations will be expanded in the mining sector, particularly in rare earth elements and critical minerals. In industry and technology, joint efforts will focus on establishing industrial parks in Kyrgyzstan. Cooperation will also be strengthened in smart cities, digital transformation, and e-government initiatives.
One of the key aspects of the agreement is the digitization of transit documents used in road transport, aimed at reducing bureaucracy. A Kyrgyz-Turkish information technology (IT) meeting will be held as part of the Kyrgyz IT Forum to discuss software development, startups, and investments.
The countries aim to meet trade volume targets set by the presidents: $2 billion in the short term and $5 billion in the medium term. The Türkiye-Kyrgyzstan Business Forum will be held with broad participation, bringing together the Turkish and Kyrgyz business communities. These goals will be reviewed at the sixth meeting of the High-Level Strategic Cooperation Council in Bishkek in 2024.
The signing of the 12th-Term JEC Protocol and the new action plan are expected to contribute positively to increasing bilateral trade, evaluating new investment opportunities, and boosting commercial relations. The contacts established during the Türkiye-Kyrgyzstan Business Forum are expected to play a crucial role in achieving these objectives.
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