Business potential in Kyrgyzstan

India and Central Asia has the potential to create regional corridors and networks of roads, railways and energy grids, going via #Kyrgyzstan, an international forum was told in New Delhi on 21 Dec 2016.

The market potential was highlighted after #Almazbek Atambaev, visiting President of #Kyrgyz Republic, assured the Indian business community that e-visas will soon become a reality which would allow business and investments from India to thrive.

Speaking at the “India and Kyrgyz Republic Business Forum”, Atambaev said that the key to the gate of Central Asia is Kyrgyzstan.

The current bilateral trade between India and Kyrgyzstan stands at US$26.9 million as in fiscal in 2015-16, which is much below the potential.

“Therefore, India should explore various sectors to expand the horizon of bilateral commerce and trade between the two countries,” he said.

He pointed out that Kyrgyzstan was emerging as a haven for trade and investment with new business-friendly measures and adoption of revamped laws from January 1, 2017.

Besides, the reduced rate on credit and establishment of trade zones would allow Indian businesses to function smoothly in the Central Asian country.

The forum was organized by the #Federation of Indian Chambers of Commerce (FICCI) and Industry and #Confederation of Indian Industry (CII) as well as and #ASSOCHAM.

FICCI has been at the forefront of initiatives to nurture India Kyrgyz ties and recognizes the potential of Kyrgyz for trade and Investment, added Rakesh Bakshi, Member, National Executive Committee, FICCI and Chairman and Managing Director, #RRB Energy.

FICCI has been at the forefront of initiatives to nurture India Kyrgyz ties and recognizes the potential of Kyrgyz for trade and Investment, added #Rakesh Bakshi, Member, National Executive Committee, FICCI and Chairman and Managing Director, RRB Energy.

Forum delegates also heard of a large scope for diversifying India’s exports to Kyrgyzstan, especially in sectors such as cotton, textiles, machinery, information technology, fertilizers, plastics, hospital management and engineering services.

The accession of Kyrgyz Republic to Eurasian Economic Union (EEU) has further opened up new opportunities, added #Madhav B Sriram, Chairman, CII Delhi State Council and Deputy Managing Director, #DCM Shriram Industries Limited.

He also called for cooperation in the agriculture and tourism sectors as well as gems & jewelry businesses. fii-news.com