Turkey signed a memorandum of understanding with Kyrgyzstan aimed at increasing trade the volume to $1 billion between the two countries on Dec. 26.
Speaking at the Eighth Turkey-Kyrgyzstan Joint Economic Commission, which was held in Bishkek, Turkish Deputy Prime Minister Numan Kurtulmuş said, “The agreement will serve as a roadmap to increasing bilateral trade volume to $1 billion between the two countries.”
Kurtulmuş said bilateral trade between the two nations increased by 40.5 percent to $425.3 million in 2013. Turkey’s exports to Kyrgyzstan, one of the poorest of the former Soviet republics, stood at $388.3 million while Turkish imports were only $37 million last year.
“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,” Kurtulmuş said. The two nations share common historical, linguistic and cultural ties.
The trade volume between the two countries increased 14.2 percent to $355 million during January to October of this year, with exports from Kyrgyzstan worth about $50 million, according to the Turkish Statistical Authority. Turkish construction companies have completed over 65projects worth $689 million in Kyrgyzstan to this date.
Turkey was the first country to recognize the independence of Kyrgyzstan, and, according to the Turkish Foreign Ministry, Turkey has signed more than 100 agreements and cooperation protocols with Kyrgyzstan in various fields such as education, culture, trade, economy, transportation, communication, defense and the military.