Türkiye secured a spot among the top 5 countries making the largest investments in Kyrgyzstan based on the results of the first nine months of 2023, the Cabinet of Ministers of Kyrgyz Republic reported.

In an official visit to Ankara, Chairman of the Cabinet of Ministers-Head of the Administration of the President of the Kyrgyz Republic, Akylbek Zhaparov, highlighted the burgeoning economic ties between Kyrgyzstan and Türkiye. Speaking at the Kyrgyz-Turkish business forum, Zhaparov emphasized the pivotal role of entrepreneurs in fostering trade and economic relations between the two nations.

Zhaparov underscored the remarkable progress achieved in Kyrgyz-Turkish relations across various sectors under the leadership of President Sadyr Japarov. Citing statistics, he revealed that trade turnover between Kyrgyzstan and Türkiye in January-November 2023 amounted to $560.5mn. Türkiye emerged as the leading investor in Kyrgyzstan's economy in 2022, with investments totaling $341.6mn.

Zhaparov disclosed that the Kyrgyz President ratified the Law of the Kyrgyz Republic on the ratification of the agreement on the establishment of a Turkish Investment Fund. This agreement aims to finance major infrastructure projects, with both governments actively collaborating to establish a Kyrgyz-Turkish Investment Fund. Furthermore, Zhaparov highlighted presidential decrees implementing temporary bans on inspections of business entities, signaling the government's commitment to creating a favorable business environment.

Vice President of Türkiye, Cevdet Yilmaz, echoed Zhaparov's sentiments, affirming Türkiye's commitment to elevating bilateral economic cooperation to new heights. Yilmaz emphasized the immense potential for economic collaboration between the two nations.

The business forum also provided a platform for representatives of prominent Turkish companies such as Coca-Cola Kyrgyzstan, Sheraton Hotel, Demirbank, and Eti Bakir Tereksay to express their positive experiences operating in Kyrgyzstan. They lauded the conducive business environment in the country.

During the forum, bilateral business meetings facilitated discussions on exporting goods, attracting potential investors, and fostering cooperation in sectors like energy, agriculture, and processing industries. These engagements culminated in the signing of 8 memoranda of cooperation and joint investment project implementation, underscoring the commitment of both nations to deepen economic ties.

With approximately 500 entrepreneurs in attendance, the business forum served as a catalyst for strengthening economic cooperation between Kyrgyzstan and Türkiye, laying the groundwork for mutually beneficial partnerships and sustainable growth in the years ahead.