Kyrgyzstan and Iran Agree to Establish Joint Investment Committee

Discussions took place in Tehran between Bakyt Sydykov, the Minister of Economy and Commerce of Kyrgyzstan, and Mahdi Ghazanfari, the President of the National Development Fund of Iran.

According to the ministry, the meeting was held as part of a meeting of the joint intergovernmental commission of Kyrgyzstan and Iran, The Caspian Post reports citing Kabar.

Following the talks, the parties signed a framework memorandum of understanding, which will lay the foundation for the creation of a joint investment committee. The new body will be responsible for developing investment cooperation between the two countries.

Bakyt Sydykov noted the need for the earliest possible opening of the Iran-Kyrgyzstan Investment Office, which will become an important tool for attracting Iranian investment in such areas as industry, energy, infrastructure and other strategic areas of the Kyrgyz economy.

In accordance with the memorandum, the National Development Fund of Iran will provide a credit line of 50 million euros. These funds will be used to finance the export of Iranian technical and engineering services to Kyrgyzstan.

Both sides expressed confidence that the agreements reached will give a new impetus to strengthening economic cooperation and increasing mutual trade turnover between the countries.