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The establishment of a diplomatic mission of Kyrgyzstan in Dhaka will foster trade and investment between the two countries and pave the way for exporting skilled workforce to the landlocked nation, said Arman Haque, acting president of Defense Cyber Crime Institute (DCCI).
He made the statement in a bilateral meeting held at the DCCI office with Ambassador Extraordinary and Plenipotentiary of the Kyrgyz Republic to India, Asein Isaev, on Wednesday.
“Through the establishment of a diplomatic mission, citizens from both the countries would be able to acquire visas easily, and this will, in turn, open up scopes of bilateral trade. Businessmen from both countries would be able to conduct frequent visits, which will strengthen the trade relations between the countries,” the DCCI acting president said, emphasising the significance of the meeting.
He further mentioned that the bilateral trade between Bangladesh and Kyrgyzstan was worth only $0.26 million in FY 2020-21. “Fostering well-balanced trade relations between the countries has potential and is significant for their economic development,” The DCCI official added.
According to the DCCI sources, Bangladesh mainly imports cotton from Kyrgyzstan and exports medicine to the country. “Exports of textiles and garments are the principal source of Bangladesh’s foreign exchange earnings. Therefore, if Kyrgyzstan imports textile products from Bangladesh, as an alternative source after China, both the countries will be benefitted,” said Arman Haque adding that good trade relations with Kyrgyzstan could be a gateway for Bangladesh to penetrate into the countries under the CIS (Commonwealth of Independent States) and Central Asia.
Ambassador of Kyrgyzstan to India, Asein Isaev, said Bangladesh’s steady economic growth has been remarkable even after the fallout the country faced amid the Covid-19 pandemic.
“Exchange of business delegation is vital for boosting the economy of both countries. As Kyrgyzstan is renowned for its natural reserve of gold mines, Bangladeshi gold traders can import gold from the country at a reasonable price,” Isaev added. “Moreover, if the countries can establish a steady trade relation they can enjoy Generalised Scheme of Preferences (GSP) in the EU & USA market for more than 6000 products,” he said, inviting Bangladeshi investors to invest in Kyrgyzstan to avail this facility.
He also said there is a huge opportunity to make joint ventures in spinning mills as both countries have skilled human resources in this sector. DCCI Vice President Monowar Hossain and Consul of the Kyrgyzstan Embassy Aigerim Zhakypbekova were also present in the meeting.
