Kyrgyz-Uzbek Investment Fund to be created with authorized capital of USD 50 mln

Bishkek, Dec. 9, 2020 / Kabar /. A bilateral meeting of Acting Prime Minister, First Vice Prime Minister of Kyrgyzstan Artem Novikov with Vice Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov took place in the city of Fergana (Uzbekistan), the Kyrgyz government’s press service said. During the talks, the sides discussed the entire spectrum of trade and economic cooperation between the two countries. In particular, it was decided until Dec. 25 of this year to consider a set of issues on the implementation of joint investment projects and industrial cooperation projects with the definition of specific measures, directions and conditions for joint cooperation. The issues of the development of the transport industry, including international transport, were considered to expand the geography of exports of both countries and their entry into new markets. The sides discussed the development of joint trade and logistics and wholesale distribution infrastructure in the territory of the two countries. Also, within the framework of the previously signed Agreement on Financial Cooperation, it was decided to create a Kyrgyz-Uzbek Investment Fund with an authorized capital of USD 50 million and create a working group for interaction in the customs sphere. In conclusion, an agreement was reached on signing a Roadmap to expand and deepen bilateral cooperation.