RIYADH: Qatar Chamber and Kyrgyzstan’s Chamber of Commerce and Industry signed two agreements to boost bilateral economic ties and establish a joint Qatari-Kyrgyz business council.
The signing ceremony took place at the end of a meeting at Qatar Chamber’s headquarters between the chamber and a visiting Kyrgyz trade delegation.
Discussions focused on strengthening trade and economic links, identifying opportunities for closer commercial ties and expanding the role of the private sector in joint ventures, according to the Qatar News Agency.
The agreements come as Qatar seeks to deepen its economic engagement with Central Asia and expand opportunities for its private sector.
Kyrgyzstan, meanwhile, is looking to attract foreign investment and broaden export markets, with infrastructure, energy and agriculture offering potential areas for closer ties.
The agreement was signed by Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al-Kuwari and Kyrgyz Chamber Vice-Chairman Avazbek Kerimbaev.
Al-Kuwari stressed the strategic importance of the new council, saying it “will serve as a structured platform to enhance cooperation and facilitate the exchange of trade, economic, and services data” between the two nations, according to QNA.
He added that promising commercial opportunities exist between the two markets, and proposed proposed organizing virtual business-to-business meetings between Qatari and Kyrgyz entrepreneurs to explore potential partnerships.
Qatari interest in Central Asia
Qatar Chamber Board Member Mohamed bin Johar Al-Mohamed said the Qatari private sector has an international expansion outlook and is keen to explore opportunities in Central Asia, particularly Kyrgyzstan.
He highlighted solar energy, infrastructure, agriculture and livestock production as potential areas for joint ventures.
Kyrgyz priorities
Kerimbaev, the Kyrgyz chamber’s deputy chairman, praised the growing relations between the two countries. He said the Kyrgyz business sector is committed to expanding trade with Qatar, particularly in construction and infrastructure.
He added that Kyrgyzstan wants to increase exports of its agricultural products to Qatari markets. He said the two agreements will help accelerate trade, increase bilateral business and stimulate cross-border investment.
The two chambers have a long history of cooperation. The Qatari Embassy in Bishkek said they signed their first memorandum of understanding in Doha in March 2012, followed by a cooperation agreement in December 2014.
The two governments also signed an investment protection agreement on the same day as the 2014 chamber deal.