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Business of Kyrgyzstan and Turkmenistan establishes direct ties

June 20, 2019

Turkmenistan is ready to cooperate with Kyrgyzstan in all spheres, and currently there is a high activity in the cooperation of the two countries.

This was stated by the deputy head of the Union of Industrialists and Entrepreneurs of Turkmenistan, Dovran Khudaiberdiyev, during a Kyrgyz-Turkmen round table on bilateral cooperation.

“Today’s meeting is a good opportunity to discuss cooperation issues. Our president pays attention to the development of relations with other countries, including Kyrgyzstan, with whom we have friendly relations,” he said.

“Kyrgyzstan is our important partner. We consider cooperation in the long term including in trade, culture, and education. We need to establish direct links between the business of the two countries,” said Hudaiberdiev.

In Turkmenistan, the Union of Industrialists unites more than 23 thousand private entrepreneurs.

Kyrgyzstan and Turkmenistan signed an agreement on the avoidance of double taxation, said Deputy Economy Minister of the Kyrgyz Republic Dastan Kadyrov.

“We will create good conditions for business. Now we are creating a platform for export-import operations on the example of Singapore and Hong Kong. We adopted their experience. Your businesspeople will be able to register an enterprise with us and work from the territory of the Kyrgyz Republic and pay minimum taxes. We have free capital outflow, and according to the new bill a zero rate will be in force. Now we are pursuing a fiscal reform for large transactions. You will not have to register companies in Hong Kong or Singapore, but you can work through Kyrgyzstan,” he said.

Kyrgyzstan and Turkmenistan in 2019 will increase trade, Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic Jirgalbek Sagynbayev said.

The trade turnover of Kyrgyzstan with Turkmenistan was $4.8 million in 2018. There are prerequisites for increasing trade.

“All the signed documents show that 2019 will be a breakthrough year for us. I would like to encourage our business to use the potential of Turkmenistan for cooperation. We must intensify bilateral relations,” he said.