Kyrgyzstan's Ambassador to Pakistan Erik Beishemhiev has said that Kyrg Republic can play a role of bridge for Pakistan to Central Asian markets as Pakistani traders can easily export their 6,000 items with several concessions.
While speaking at the Lahore Chamber of Commerce and Industry, the Ambassador said that CPEC is a golden opportunity to enhance trade volume of the connecting countries manifold, Pakistan and Kyrgyzstan can benefit from each other by promoting bilateral relations in academic, trade and cultural areas.
He said that Pakistan and Kyrgyzstan are geographically located on important positions in the region and both can benefit from each other by promoting bilateral trade and economic relations. Kyrgyz economy is undergoing some major structural and development changes. The mining sector, electrical goods production, I.T sector and agriculture sector is getting progress in Kyrgyzstan, he said.
The Ambassador said that Kyrgyzstan is rich in tourist destinations and minerals. He said that the government of Kyrgyzstan is interested in signing memorandum of understandings with Pakistan for promotion of people to people contact and exchange of information regarding trade.
LCCI President Irfan Iqbal Sheikh said that Pakistan and Kyrgyzstan enjoy friendly and cordial relations but these does not reflect in the trade between the two countries as mainly pharmaceutical products are exported from Pakistan whereas some dried vegetables and trailers are imported from Kyrgyzstan.
The main reasons of such a low level of two way trade which was still below even 2 million dollars are the least knowledge about each other's markets and lack of regular banking channels, he added.
The LCCI President said that Lahore Chamber has been talking about exploiting the untapped potential of trade in Central Asian Republics. There is also a Standing Committee on "Commonwealth of Independent States" operating in Lahore Chamber. He said that Kyrgyz and China share a long border. Once the Pak-China Economic Corridor Project gets fully operational, it will become much convenient for both the countries to explore each other markets through attaining better connectivity.