Pakistan, Kyrgyzstan agree to establish ‘’Joint Business Council’’ to Promote trade, investment

ISLAMABAD, Aug 13 (APP): The Chargé d’Affaires of the Embassy of Kyrgyzstan, Aibek Tilebaliev called on the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh, with discussions focusing on bilateral trade and economic relations, promotion of investment, and strengthening direct business-to-business (B2B) linkages between the business communities of Pakistan and Kyrgyzstan.

During the meeting held at the FPCCI President Secretariat in Islamabad, both sides emphasized the need to effectively promote B2B contacts between the private sectors of the two countries to further increase the existing volume of bilateral trade.

FPCCI President Atif Ikram Sheikh welcomed the growing high-level engagement between Pakistan and Kyrgyzstan, saying that there was considerable potential for enhancing trade, investment and business cooperation between the two countries, which needed to be fully exploited.

Atif said that a visit of a Pakistani business delegation to Kyrgyzstan under the platform of FPCCI could play an important role in promoting bilateral trade and investment. Such visits would provide businessmen and industrialists of both countries an opportunity to understand each other’s markets, investment opportunities and business requirements.

The meeting also discussed in detail the establishment of a “Joint Business Council” between Pakistan and Kyrgyzstan to enhance bilateral trade. Both sides agreed to expedite necessary measures for establishing the council to further strengthen institutional linkages between the two business communities.

Atif Ikram Sheikh appreciated Kyrgyzstan’s efforts in leading and enhancing the activities of the Shanghai Cooperation Organization (SCO). He said that the upcoming SCO Government Summit in Kyrgyzstan was an important development, adding that the SCO platform could serve as an effective mechanism for promoting trade and economic cooperation among Pakistan, Kyrgyzstan and other member states.

He said that regional connectivity, trade, investment and business-to-business cooperation could be further promoted through the SCO platform, which would help boost economic activity across the region.

The Kyrgyz Chargé d’Affaires said that Kyrgyzstan was keen to further strengthen its trade and economic relations with Pakistan. He emphasized the need to enhance direct interaction between the business communities of the two countries.

Aibek Tilebaliev said that Pakistan and Kyrgyzstan had vast opportunities for trade and investment, which could be capitalized upon through joint efforts. He welcomed the proposed establishment of the Joint Business Council, saying it would further strengthen contacts between traders and industrialists of the two countries and pave the way for new business partnerships.

The meeting agreed that sustained interaction between the private sectors, exchange of trade delegations and promotion of joint business activities could play an important role in taking bilateral economic relations to new heights.