Union of Chambers and Commodity Exchanges of Turkey

Turkey-Kyrgyzstan Business Forum was held at the Conrad Istanbul Bosphorus Hotel with the participations of TOBB and Turkic CCI President M. Rifat Hisarcıklıoğlu, Vice President Fuat Oktay, Deputy Prime Minister of Kyrgyzstan Kubatbek Boronov, Foreign Economic Relations Board (DEIK) President Nail Olpak and Turkey Exporters Council (TIM) President İsmail Gülle.

Following the opening speeches at the Business Forum held on the occasion of the 9^th Joint Economic Commission Meeting of the Turkey - Kyrgyz Republic, presentations on cooperation opportunities and bilateral business meetings between Turkish and Kyrgyz businessmen was carried out.

Hisarcıklıoğlu, in his speech at the opening of the business forum, said that entrepreneurship must be encouraged and supported in order to become a stronger and more competitive economy. Underlining the need to facilitate trade, Hisarcıklıoğlu pointed out that Turkey, which had exports of $3 billion 40 years ago, is now an industrial giant between China and Italy. Hisarcıklıoğlu stated that they are ready to share their knowledge and experience with their brothers from Kyrgyzstan.

- The unity of Turkic business worlds

Speaking as the Presidents of both the umbrella organization of the Turkish business world, TOBB, as well as the Turkic CCI which bridges together the Turkic world with an economic size of $1.1 trillion, Hisarcıklıoğlu said, “Kyrgyzstan is also a founding member of the Turkic CCI, which was established with the vision of 6 states of a single great nation. Together with Kyrgyzstan and Turkey, Azerbaijan, Kazakhstan, Uzbekistan, and Turkmenistan have united their business communities. Our ties with Kyrgyzstan, which we have infused with the mortar of our common culture, will continue to make us inseparable friends in the future, as it has in the past.”

- Vice President Fuat Oktay       

Vice President Fuat Oktay said in his speech, “Our trade with Kyrgyzstan was $424 million in 2018. In the first 9 months of 2019, our trade has reached $326 million.”

Noting that Turkey and Kyrgyzstan are two states intertwined with their history, joys and sorrows, Oktay said Kyrgyzstan President Sooronbay Ceenbekov’s visit to Turkey last April was an important milestone between the two countries.

Looking at recent developments in the global economy, the growth rates of the world economy has led to a downward revision and the expansion of protectionist economic policies, Oktay said, “Turkey remains a safe haven for investors and presents business people with investment opportunities. Growth rates, on the contrary, are revised upwards. The captain's skill becomes evident on rough seas. We also want to take our bilateral trade relations to a higher level in this volatile time in the world, with the power we derive from our economy and common values. We are also committed to this.”

- First Deputy Prime Minister of Kyrgyzstan Kubatbek Boronov

Kyrgyzstan First Deputy Prime MinisterKubatbek Boronov said, “The offers conveyed to us by Turkish businesspeople seem to be beneficial for us as well. This will also be useful in the work we undertake in the future.”

Boronov participated in the “Turkish-Kyrgyz Business Forum,” which was held in collaboration with TOBB, TIM and DEIK, and said that today, Kyrgyzstan and Turkey's political cooperation is at the highest level.

Boronov stated that Turkey is not only the most important trading partner of Kyrgyzstan, but also a sister country and a strategic partner, and that after the President of Kyrgyzstan visited Turkey at the beginning of 2018, President Erdoğan of the Republic of Turkey made an official business visit to Kyrgyzstan. A special relationship has been established between Kyrgyzstan and Turkey on the basis of trust. Turkish-Kyrgyz trade and economic relations are developing rapidly. Turkey is one of the top priorities for Kyrgyzstan.”

- TIM President Gülle

The Turkish Exporters' Council (TIM) President İsmail Gülle, said he sincerely believes that bilateral trade with Kyrgyzstan, a friend and sister country, will have critical results, especially with the ecosystem created today regarding the future of bilateral relations. Gülle pointed out that although China, Russia and the countries of the region have commercial density in Kyrgyzstan due to being a member of the Eurasian Economic Community, Turkey ranks fourth in Kyrgyzstan's imports.

- DEIK President Olpak

The Foreign Economic Relations Board (DEIK) President Nail Olpak, noted that Turkey was the first country to recognize the independence of the Republic of Kyrgyzstan in 1991, adding that the establishment of DEİK Turkey-Kyrgyzstan Business Council was also important in the same year. Olpak said that the business world complains about bureaucracy in general, “Freight is one of the issues expressed by our companies because of the high cost. We hope affirmative action for Turkish companies in infrastructure projects to be implemented within the framework of Kyrgyzstan's Strategic Investment Plan.”

- Cooperation agreements signed

7 Memorandums of Understanding were signed between private sector firms and institutions at the Private Sector Agreement Signing Ceremony held at the end of the Business Forum. The agreements signed are as follows: Memorandum of Understanding on cooperation between the Kyrgyz Republic Investment Incentive and Protection Agency and Mir Technology Holding Inc.; Memorandum of Understanding on cooperation between The Kyrgyz Republic Investment Incentive and Protection Agency and Çiftay Construction Contracting and Trade Inc.; Memorandum of Understanding on cooperation between the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Investment Promotion and Protection Agency of the Kyrgyz Republic;Memorandum of Understanding on cooperation between the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Association of Small-Scale Hydroelectric Power Plants; Memorandum of Understanding on cooperation between the Chamber of Commerce and Industry of the Organization of Economic Cooperation and the Investment Promotion and Protection Agency of the Kyrgyz Republic;Memorandum of Understanding on cooperation between the Istanbul Arbitration Center and the Chamber of Commerce and Industry of the Kyrgyz Republic /International Court of Arbitration and the Istanbul Arbitration Center; Memorandum of Understanding on cooperation between “Eurasian Business Club of the Kyrgyz Republic” and the Foreign Economic Relations Board / Public-Private Partnership Committee.