UAE, Kyrgyzstan to boost mutual investments, expand bilateral trade
Bilateral trade reached Dh3.7b during the first nine months of 2022, a growth rate of 66%
Abu Dhabi: The UAE and Kyrgyzstan signed multiple agreements to strengthen trade cooperation as well as foster business and investment partnerships, on Tuesday.
The two countries have agreed to cooperate in the fields of agriculture, food security, manufacturing industries, energy, renewable energy, IT, innovation, tourism, culture, logistical transport, industry, entrepreneurship, Islamic finance and securities, banking services, and education.
The agreements were signed during the meeting of the second edition of the joint economic committee between the two countries, in Abu Dhabi.
The committee also recommended setting up a joint working group to coordinate and define meetings and workshops in which investors, businessmen and representatives of the private sector from both countries would participate.
“The meeting of the UAE-Kyrgyz Committee represents a crucial step in strengthening the economic ties between the two friendly nations and advancing their future levels of growth and prosperity. Furthermore, it will open up additional potential for cooperation and partnership in a number of crucial economic areas and help investors find more lucrative investment opportunities in the markets of the two nations,” Abdullah bin Touq Al Marri, UAE Minister of Economy, said.
The volume of non-oil trade between the two countries amounted to more than Dh3.67 billion during the first nine months of 2022, a growth of 66 per cent compared to the same period in 2021 and 63 per cent and 56 per cent over the same period in 2020 and 2019, respectively.
Tourism between the two countries, too, has grown over the last few years. More than 16,000 Emirati tourists visited the Kyrgyz Republic in 2021.