Erik Beishembiev, the Ambassador of Kyrgyzstan to Pakistan, said on Saturday that Kyrgyz businesses are welcoming to Pakistani businessmen, particularly in the pharmaceutical sector, which offers tremendous business opportunities for joint ventures.
The president of the Kyrgyz Republic, Mr. Sooronbay Jeenbekov, claimed to business leaders from the Lahore Chamber of Commerce and Industry (LCCI) that investing in Kyrgyz Republic is lucrative, and this opportunity should be taken by Pakistani business leaders.
He stressed cooperation in the pharmaceutical, rice cultivation, education, and tourism industries. He restated, “Kyrgyzstan is not very developed in the pharmaceutical sector, and offers fantastic opportunities for Pakistani pharmaceutical companies.”
He noted that the long-standing historical links between Kyrgyzstan and Pakistan could be traced to centuries ago. He also stated that our people have longstanding and strong cultural and spiritual links.
According to Beishembiev, the presence of direct flights would enhance trade and cooperation in the tourism sector. The ambassador claimed that his country was interested in establishing transportation linkages that connect Central Asia and China to Pakistan and the Gwadar and Karachi ports, using railroad and roadways, which are part of the China-Pakistan Economic Corridor (CPEC).
He continued: “To this day, the shortest roads are connecting China to Kyrgyzstan via two border mountain passes in Kyrgyzstan: Torugart in the north and Erkeshtam in the south, which are only about 200km from Kashgar, the largest city in the area.”
Since both countries were rich in mineral resources, had a large and professional population, as well as many opportunities for developing industry and agriculture, he demanded the partnership be further diversified and improved.
Beishembiev believes that Kyrgyzstan could be used as a gateway into the European Union market, and Pakistan could benefit from GSP Plus status.
LCCI President Mian Tariq Misbah lauded the Kyrgyz ambassador for maintaining close contact with the Lahore Chamber in order to keep looking for new ways to improve the trade and economic relations between the two countries. He said that there had been almost no trade between Pakistan and Kyrgyzstan for the past few years.
the key explanation for such a low level of two-way exchange, which totaled $2.2 million in 2019, was a lack of awareness about the other’s markets.
Pakistans exports to Kyrgyzstan were just $2.17 million, while Kyrgyzstan’s global imports amounted to $5 billion.
The areas of pharmaceuticals, value-added textiles, agricultural products, surgical instruments, and sports goods all offer wonderful prospects for the enhancement of Pakistan’s exports to Kyrgyzstan.
A special mention should be made of the pharmaceutical industry, considering how Pakistan has made remarkable progress in this sector following the Covid-19 pandemic.
The LCCI president stated that Kyrgyzstan could be of assistance to Pakistan in regards to EU export promotion under the GSP Plus system.
He went on to say that “Pakistanis could form joint ventures in Kyrgyzstan to increase exports to EU countries and Central Asia. We’d certainly like to encourage that,” he concluded. However, he urged for better use of CPEC to discover new markets.
Covid’s condition should be discussed prior to organizing business delegations on both sides.
A regular flight service between the two countries will help to further enhance bilateral trade, the LCCI president said.
