Bishkek: Trkiye and Kyrgyzstan have signed the 12th Term Joint Economic Commission (JEC) Protocol, marking a significant development in their bilateral relations. The agreement, which encompasses various sectors including trade, industry, energy, transportation, agriculture, education, healthcare, and culture, was formalized in a meeting between Trkiye Vice President Cevdet Yilmaz and Kyrgyz Cabinet of Ministers Chairman Adylbek Kasymaliev.
According to Anadolu Agency, the signing ceremony took place in the capital city of Kyrgyzstan, Bishkek, where a new 77-article action plan was also introduced. Vice President Yilmaz expressed the countries' commitment to achieving ambitious trade volume targets set by President Recep Tayyip Erdogan and Kyrgyz President Sadyr Japarov. These targets aim for $2 billion in trade in the short term and $5 billion in the medium term, as planned for the High-Level Strategic Cooperation Council meeting in 2024.
Yilmaz highlighted the comprehensive discussions on economic and trade relations, emphasizing future steps in areas of strong cooperation and potential. The action plan serves as a roadmap for concrete goals and new initiatives across multiple fields including industry, energy, transportation, and healthcare, among others.
The protocol also outlines plans for collaboration in the mining sector, particularly focusing on rare earth elements and critical minerals. Joint efforts are also set to establish industrial parks in Kyrgyzstan, and a Kyrgyz-Turkish IT meeting is planned to discuss advancements in software development, startups, and investments. The development of smart cities, digital transformation, and e-government is also on the agenda.
In the transportation sector, Trkiye and Kyrgyzstan aim to streamline processes by making transit documents electronic, reducing bureaucratic hurdles. Yilmaz underscored that these new cooperation channels are based on a win-win principle and will benefit the region as a whole. He reiterated Trkiye's significant role as Kyrgyzstan's eighth-largest export and sixth-largest import partner.
Regarding investments, Trkiye stands as Kyrgyzstan's fifth-largest direct investor, with over 2,000 Turkish companies operating and about $2 billion in investments. Turkish contracting companies have successfully completed 95 projects in Kyrgyzstan, totaling approximately $1 billion.
Yilmaz expressed optimism about the future of economic and commercial relations between the two nations, highlighting the upcoming Trkiye-Kyrgyzstan Business Forum as a key event for fostering trade ties and exploring new investment opportunities. He concluded by affirming the shared vision and commitment to strengthening the bond between the Turkish and Kyrgyz business communities.