Kyrgyz President Welcomes More Investment from China

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Last updated at: (Beijing Time) Monday, June 24, 2002

Kyrgyz President Welcomes More Investment from China

Visiting Kyrgyz President Askar Akayevich Akayev Monday in Beijing called on more Chinese enterprises to invest in his country.

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Visiting Kyrgyz President Askar Akayevich Akayev Monday in Beijing called on more Chinese enterprises to invest in his country.

At a Chinese-Kyrgyz business meeting, Akayev said that as good neighbors share common interests, so Kyrgyzstan and China have hadactive political exchanges and favorable growth in trade since thetwo countries established diplomatic relations ten years ago.

Kyrgyzstan hopes that bilateral trade and economic cooperation will progress further as China is one of the most important trade partners with Kyrgyzstan, he said.

The two countries share great potential in jointly developing industries like energy, transportation, mining and processing agricultural products, Akayev said, adding that with the development of west China, there will be booming opportunities in tourism.

China would like to promote cooperation of mutual interests in various fields with Kyrgyz enterprises and create a more favorableenvironment for bilateral trade, especially cross-border trade, said Yu Xiaosong, president of the China Council for the Promotionof International Trade (CCPIT).

Chinese customs shows, the bilateral trade volume between Chinaand Kyrgyzstan totaled 120 million U.S. dollars last year and reached 56.33 million U.S. dollars in the first four months of this year, a year-on-year rise of 17.2 percent. In addition more than 500 Chinese enterprises have so far registered in Kyrgyzstan with a total investment of 30 million U.S. dollars.

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