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Iran, Kyrgyzstan to sign memorandum on investment

Business Materials 2 May 2012 18:52 (UTC +04:00)

Azerbaijan, Baku, May 2 / Trend V. Zhavoronkova, T. Jafarov /

Kyrgyzstan and Iran are expected within two weeks to sign a memorandum of understanding in attraction of Iranian investments in reconstruction and construction of plants, Ambassador Extraordinary and Plenipotentiary of Iran to Kyrgyzstan Manouchehr Moradi told Trend on Wednesday.

"The signing of the document is expected during the visit of the head of the Iranian Razavi Khorasan Province to Chuy province of Kyrgyzstan," the ambassador said.

The arrangement for the visit was reached during a meeting between the ambassador and the governor of Chuy province.

Moradi said that earlier deputy head of the Razavi Khorasan province has already visited Kyrgyzstan. During his visit to Bishkek, an exhibition was held at which investors from this Iranian province reached a preliminary agreement on this issue with Kyrgyz counterparts.

"The question of attraction of Iranian investments in both public and private sectors of Kyrgyzstan is nothing new, because this matter has long been in our spotlight," the ambassador said.

With regard to investment volume, Moradi said that it will be announced following the signing of relevant documents.

In addition, the head of diplomatic mission said the governor of Kyrgyz Osh visited Mashhad in Iran.

"Arrangements have also been made to attract Iranian investors to Kyrgyzstan. Also the
mayor of Bishkek at the invitation of the mayor of Tehran paid a visit to Iran and the parties agreed on the implementation of projects in Kyrgyzstan by Iranian construction companies," he said.

Moradi said that despite the intensification of economic cooperation, trade turnover between the countries is low. Last year, trade turnover totaled $ 50 million, and most of it falls to the export of goods from Iran to Kyrgyzstan, the ambassador said.

The main reason for such a low level of trade turnover between the two countries, according to the diplomat, is the political instability in Kyrgyzstan and non-transparency of certain laws and regulations in this country.

"Of course, there is possibility of expanding trade cooperation between the two countries and if obstacles are eliminated, the turnover can be increased," Moradi said.

Sales exhibitions, according to the diplomat, demonstrate the prospects for expansion of cooperation between the two countries, close ties are being established between provinces and Iran hopes that in the future it will be able to play a more important role in the economic and trade arena of Kyrgyzstan, and the programmes scheduled by the parties will improve relations between the two countries.

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