Representatives from Turkey and Kyrgyzstan recently signed a memorandum of understanding to increase trade volume between both countries to $1 billion, the Turkish American Chamber of Commerce & Industry said.
The agreement was reached during the Eighth Turkey-Kyrgyzstan Joint Economic Commission in Bishkek, Kyrgyzstan.
Deputy Prime Minister of Turkey Numan Kurtulmus said the agreement would help improve economic relations between the two countries. Trade between the countries increased by 40.5 percent in 2013, with trade volume reaching $425.3 million. Turkish exports reached $388.3 million while only $37 million came as imports from Kyrgyzstan in 2013. Up until Oct. 2014, the Turkish American Chamber reported a 14.2 percent increase in trade volume between the two countries.
Turkey was the first nation to recognize Kyrgyz independence, and the two countries share many cultural ties.
“We feel that we have come to our country when we come to Kyrgyzstan, and we know that you feel the same thing when you come to Turkey,” Kurtulmus said.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme