China, Kyrgyzstan to boost trade, economic cooperation

China and Kyrgyzstan on Thursday agreed to further develop their bilateral comprehensive strategic partnership in a statement issued in the Kyrgyz capital of Bishkek.

The statement was issued on the second day of Chinese President Xi Jinping's state visit to Kyrgyzstan, during which he will also attend the 19th Shanghai Cooperation Organization (SCO) summit.

Belt and Road cooperation

Kyrgyzstan backs the China-proposed Belt and Road Initiative (BRI) and has reached consensus with China that implementing major projects under the BRI framework will greatly promote bilateral ties and consolidate regional cooperation.

President Xi said the joint construction of the BRI has become a key element in China-Kyrgyzstan cooperation, adding that the two sides will synergize their development strategies and explore new cooperation potentials.

Bishkek, the capital of Kyrgyzstan. /VCG Photo

Bishkek, the capital of Kyrgyzstan. /VCG Photo

The Kyrgyzstan side expressed belief that President Xi's vision of building a community with a shared future for mankind carries epoch-making and historical significance.

Trade facilitation

The two countries also agreed to create favorable conditions for trade development and to spur business exchanges via platforms such as the China International Import Expo (CIIE) and China-Eurasia Expo.

To deepen cooperation in the financial sector, both sides decided to press ahead with local currency settlement to better serve bilateral trade, investment and financing activities.

Both parties agreed that a work group for investment and industrial cooperation will be established under the framework of the Kyrgyz-Chinese Commission on Trade and Economic Cooperation to push forward cooperation in investment and industry.

In an effort to boost bilateral investment, China and Kyrgyzstan agreed to make joint efforts in improving the investment climate and protecting the legitimate rights and interests of each other's citizens.

Intensified agricultural cooperation

Both sides also decided to strengthen cooperation in agriculture by joining efforts to advance the exchange of germplasm resources, demonstrations of agricultural technology, and personnel training.

China also hails the quality exports of Kyrgyz agro-products and stands ready to buy more quality agricultural produce from Kyrgyzstan as a way to help and support the country to grow its economy and better the lives of its people, according to Xi.