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ABU DHABI, 12th December, 2022 (WAM) — The governments of the UAE and Kyrgyzstan have agreed to strengthen economic cooperation and expand the scope of business and investment partnerships in agriculture, food security, food industry, energy, renewable energy, Information technology, innovation, tourism, culture, logistics and transport, industry, entrepreneurship, Islamic finance, Islamic securities, banking services and education.
Economy Minister Abdullah bin Touq Al Marri said that the deep-rooted bilateral relations between the UAE and Kyrgyzstan are developing across the board, especially in the economic, commercial and investment fields. He highlighted the high-level exchange of visits supported by the recent strong will of the two leaders to strengthen bilateral relations.
He made the statement at the second session of the joint economic committee of the two countries in Abu Dhabi, which is co-chaired by Almari and Kyrgyz Cabinet Chairman Akirbek Japarov.
The meeting was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Juma Mohammed Al Keet, Assistant Undersecretary for Foreign Trade, Ministry of Economy; Abdullatif Juma Bayev, Ambassador of Kyrgyzstan to the UAE; Kanat Abdulrahmanov, Deputy Minister of Economy and Trade of Kyrgyzstan, and representatives from Representatives of federal and local government agencies, business leaders and the private sector from both countries.
The meeting saw the signing of several Memorandums of Understanding (MoUs) between the two parties in various sectors including industry, renewable energy and food. The committee also agreed to facilitate import and export procedures between the two countries.
Al Marri said that the UAE is Kyrgyzstan’s main trading partner in the Gulf Cooperation Council (GCC) region in 2021. Their non-oil trade flows total more than AED3.67 billion in the nine months of 2022, an increase of 66 percent compared to that. The same period in 2021.
Tourism between the two countries has also seen significant progress in terms of tourist numbers and flights, with more than 16,000 Emirati tourists visiting Kyrgyzstan in 2021. In this regard, they emphasized the importance of continued cooperation in the field of tourism.
Japarov said that the talks were a complete success and the two sides reached an agreement to strengthen cooperation in investment, trade, economy, tourism, agriculture and other fields between the two countries.
Al Zeyoudi said that Kyrgyzstan is an important economic destination for the UAE in Central Asia. Their non-oil trade has made significant progress in recent years, increasing by 164% from AED 1.14 billion in 2017 to AED 3 billion in 2021, while the UAE’s non-oil exports to Kyrgyzstan have grown over the same period up 705%.
The value of UAE re-exports to Kyrgyzstan reached AED 3 billion in the first nine months of 2022, an increase of 81% compared to the same period in 2021, while the country’s non-oil exports to Kyrgyzstan reached AED 410 million in the first nine months of this year Ram, a 203% increase compared to the same period in 2021.
Mutual investment increases
The two sides agreed to establish mechanisms and new action plans to increase mutual foreign direct investment between the two countries in areas of mutual interest.
Promoting cooperation in the fields of future energy and renewable energy
The committee discussed strengthening future cooperation in the field of energy and renewable energy, and leveraging the relevant expertise of the UAE, which will ensure a sustainable future for the energy sectors of both countries. The parties also agreed to launch the first phase of a 200 MW photovoltaic solar power plant in Kyrgyzstan.
Council agrees to increase tourism exchanges
The committee also agreed to strengthen tourism cooperation between the UAE and Kyrgyzstan in the fields of tourism, aviation and hotels, and to increase the number of tourists and flights between the two countries.
Encourage investment in new economic sectors
Under the framework of supporting the UAE’s vision of investing in new economic sectors, the committee discussed potential investment opportunities in technology, industry, cybersecurity, artificial intelligence, innovation and manufacturing.
Exchange of medical science expertise
The parties agree to exchange expertise, knowledge and training in the field of medical sciences, especially in the field of genetics and genome research.
strengthen educational cooperation
As part of the agreement signed by the ministries of education of the two countries, the two sides agreed to strengthen cooperation in the field of education.
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