Kyrgyzstan hopes for getting into Islamic market

Kyrgyzstan hopes for getting into the Islamic market and lays account on investment inflow from the Arab countries, Akylbek Japarov, the first Vice Prime Minister of Kyrgyzstan said on Wednesday prior to the round table discussion with the Arab Coordination Group in Bishkek.

Kyrgyz side will present the Middle East business circles 25 projects in different spheres-energetics, industry, agriculture, education, transport and communication, estimated at $250-300 million. It is the first visit of the Arab Coordination Group (ACG) to Kyrgyzstan and the government will try to awake its interest.

“The Arab world has ever been a reliable partner for us,” Japarov said. He complained that credit activities of the Kyrgyz economy “live much to be desired, comparing to 2007” but the situation can change owing to agreement with the ACG.

The ACG coordinates joint activity of the Islamic Development Bank, Saudi Fund for Development, the OPEC Fund for International Development, Kuwait Fund for Arab Economic Development and Abu Dhabi Fund for Development. The round table discussion will expectedly contribute to making business contacts with the reputable financial institutions of the Islamic world.