Azerbaijan, Baku, Jul.11/ Trend F.Milad/
Kyrgyzstan's Finance Minister Akylbek Japarov has said that the value of trade between Kyrgyzstan and Iran will reach $1 billion.
Kyrgyzstan has opened a credit line worth €50 million for Iranian traders, he said, adding that the credit would be increased to €500 million, the Mehr News Agency reported.
Japarov made the remarks at the end of the tenth meeting of Iran-Kyrgyzstan joint economic cooperation summit which was held in Tehran on Tuesday, during which the two sides signed a memorandum of understanding.
The two sided also agreed to form joint companies and streamline customs affairs in a bid to boost the two-way trade.
Kyrgyz Ambassador to Iran Medetkhan Sherimkulov has called on Iranian companies to take a greater role in different economic, agriculture, industrial and cultural fields in Kyrgyzstan.
He said 180 industrial units are currently operating in Kyrgyzstan, adding that both Iranian and Kyrgyz traders have established these units through joint ventures with the Iranian companies accounting for 70 per cent of the investment, according to Press TV.