Ambassador Speeches

VISIT TO THE KYRGYZ REPUBLIC BY DELEGATION FROM

SERVICE EXPORT PROMOTION COUNCIL (SEPC)

INDIA- KYRGYZSTAN BUSINESS MEETING

(Hyatt Regency, Bishkek; 6th February, 2023; 10-11 AM)

Director of the National Investment Agency under the President of the Kyrgyz Republic Mr Temiraliev Umbriel,

Director General of SEPC Dr. Abhay Sinha,

Deputy Director, Economic Diplomacy Department, Ministry of Foreign Affairs of the Kyrgyz Republic Mr. Rakhman Adanov,

Mr. Itibaev Kairat from the Tourism Development Support Fund,

Delegates from India,

Representatives from the Kyrgyz Industry,

Distinguished Guests,

Ladies and Gentlemen,

Good morning!

It is a great honour and pleasure for me to welcome you all to this important meeting today in this beautiful city of Bishkek. I thank the Government of India and appreciate the efforts of Director General, Service Exports Promotion Council, Shri Abhay Sinha, and his colleagues for taking this initiative of bringing a business delegation from India representing the service sector. I express my admiration for the vision behind the visit of this delegation.

Friends,

India has historical and civilization links with the Kyrgyz Republic. We enjoy warm and friendly relations. India and the Kyrgyz Republic elevated their bilateral relationship to a strategic partnership in June 2019.

Relations between India and the Kyrgyz Republic reached an important milestone last year when we marked 30 years of the establishment of diplomatic relations between our two countries. This coincided with our celebration of 75 years of the Independence of India – Azadi ka Amrit Mahotsav.

History was also made when the 1^st India-Central Asia Summit was held on 27 January, 2022 in virtual mode at the initiative of Prime Minister of India H.E. Mr. Narendra Modi. President of the Kyrgyz Republic His Excellency Mr. Sadyr Zhaparov participated in this Summit together with the Presidents of the other Central Asian Republics. There have been regular exchanges of visits between our two countries which have contributed to the development of cooperation in diverse areas. Excellent political relations have laid a strong foundation for the growth of our economic relations.

The Summit laid considerable stress on economic partnership and identified sectors like medicine, healthcare, pharmaceuticals, education, information technology, Business Process Outsourcing (BPO), infrastructure, agriculture and processing of agricultural products, energy, space industry, textiles, leather and footwear industry, gems & jewellery as holding true potential for the expansion of trade and investment between India and the Central Asian Republics, including the Kyrgyz Republic. A five-year Roadmap for Trade and Economic Cooperation between India and the Kyrgyz Republic was adopted in June 2019 between our two countries. This Roadmap is aimed at creation of favourable conditions for accelerated growth of bilateral trade, diversification of products and increase in foreign investment.

Concerted efforts by both sides have resulted in the bilateral trade crossing the 100 million dollar mark for the first time and reaching 110 million dollars during January to November 2022. While exports from India to the Kyrgyz Republic were 100 million dollars, imports from the Kyrgyz Republic into India were 10 million dollars. It is a matter of great satisfaction that bilateral trade has more than doubled compared with the previous year. It is, however, felt that considerable potential remains untapped for further expansion of bilateral trade between the two countries.

Friends,

India has signed an MoU with the Kyrgyz Republic for implementation of High Impact Community Development Projects (HICDPs) for socio-economic development in the Kyrgyz Republic, based on grant assistance by India. We are working with the Government of the Kyrgyz Republic for the implementation of identified projects. India has also made an offer of a Line of Credit of 200 million dollars to the Kyrgyz Republic. Discussions are going on with regard to the utilization of this Line of credit for infrastructure development projects in the Kyrgyz Republic. Both the grants for HICDP and the Line of Credit are expected to open up greater opportunities for trade and economic cooperation between our two countries.

Connectivity is a major challenge for the expansion of bilateral trade between India and the Kyrgyz Republic. Commencement of direct flights in Bishkek-Delhi-Bishkek Sector, however, is expected to make travelling easier between the two countries. The utilization of the International North-South Transport Corridor (INSTC) and promoting the Chabahar Port are some ongoing efforts to improve connectivity. Kyrgyz Republic has shown interest to utilize the services of the Shahid Beheshti Terminal at Chabahar Port for facilitating trade with India and other external markets.

The India-Kyrgyz Republic Inter Governmental Commission for Trade, Economic, Scientific and Technological Cooperation held its 10^th Session in virtual format on 3^rd November, 2022. It was co-Chaired by H.E. Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Government of India, and H.E. Mr. Talantbek Imanov, Minister of Digital Development of the Kyrgyz Republic. The Joint Commission has identified inter alia mutually beneficial cooperation in service areas such as Digitalization, Intellectual Property, Healthcare, Pharmaceuticals, Education, Environment, Banking, and Transport.

Cooperation in the service sector thus holds considerable potential for further cooperation. For example, major hospital chains of India can consider opening branches of their multi-speciality hospitals and diagnostic clinics in the Kyrgyz Republic. The Indian film industry can explore and use the beautiful and picturesque locations in the Kyrgyz Republic for shooting films. Indian educational institutions can set-up their campuses in the Kyrgyz Republic. Tourism and hospitality are two other sectors that hold considerable promise. Besides identifying steps towards increasing two-way trade in the service sector, I would urge the National Investment Agency to guide our delegates on the investment opportunities available in the Kyrgyz Republic.

The India-Kyrgyz Business forum and the India-Central Asia Business Council (ICABC) are working to promote business linkages and expanding trade and economic cooperation between India and the Kyrgyz Republic. I thank FICCI and the Chamber of Commerce and Industry of the Kyrgyz Republic for their efforts in this direction. It is expected that the meetings of both these forums would be held in future to further facilitate this process.

Ladies & Gentlemen,

The visit of the delegation from the Services Export Promotion Council is extremely timely. I firmly believe that your interaction with the business community here over the next two days will be productive and fruitful and you will be able to identify new business opportunities here. I am confident that this engagement between our two countries will ultimately create a positive business environment for further strengthening bilateral relations between India and the Kyrgyz Republic. I wish you a pleasant stay here and every success in your endeavours.

Thank you.

******