Kyrgyzstan intends to expand economic ties with Azerbaijan and increase bilateral trade turnover, Kyrgyzstan's Ambassador to Azerbaijan Maksat Mamytkanov told APA.
The diplomat stated that work is currently underway to organize the Azerbaijan-Kyrgyzstan business forum. According to him, the forum is planned to be held in late November or early December.
"We want to organize the Azerbaijan-Kyrgyzstan business forum and establish the same platform in Kyrgyzstan as well. Our goal is to familiarize Azerbaijani businesses with Kyrgyzstan's economy and expand ties between our entrepreneurs. This is because there is little information in Azerbaijan about Kyrgyzstan's economic potential and the products it manufactures," the ambassador noted.
Mamytkanov stated that Kyrgyzstan's state export promotion agency, Kyrgyzexport, is also participating in this process. The parties plan to meet with business representatives to discuss issues hindering the expansion of trade and ways to resolve them.
According to the ambassador, during Azerbaijani President Ilham Aliyev's state visit to Kyrgyzstan, a target was set to increase trade turnover between the two countries to at least $200 million.
"We must make serious efforts to achieve this target. Currently, it is reported that 74 business entities with Kyrgyz capital are registered in Azerbaijan. However, trade turnover is not increasing at the desired pace. We want to meet with business representatives to identify the reasons hindering this growth and resolve the problems together," he emphasized.
The diplomat added that the organization of other events tailored to the needs of entrepreneurs would also be considered in the future. In his opinion, it is important to first determine what kind of support entrepreneurs need for business development.
Mamytkanov also touched upon opportunities for financing business projects between Azerbaijan and Kyrgyzstan. He stated that the resources of the development fund established by the two countries have been increased to $200 million, and these funds can be used to develop trade, industry, and production between the countries.
"These funds make it possible to establish manufacturing enterprises, create new jobs, and generate added value. As a result, new jobs can be created in both Azerbaijan and Kyrgyzstan," the ambassador noted.
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