BISHKEK, Kyrgyzstan / ISTANBUL

Türkiye and Kyrgyzstan inked the 12th Term Joint Economic Commission (JEC) Protocol on Thursday, covering fields such as bilateral trade relations, industry, energy, transportation, agriculture, education, healthcare, and culture.

Türkiye Vice President Cevdet Yilmaz and Kyrgyz Cabinet of Ministers Chairman Adylbek Kasymaliev met in Bishkek, Kyrgyzstan's capital, and signed the protocol and a new 77-article action plan within it.

Speaking after the signing ceremony, Yilmaz said they are determined to meet President Recep Tayyip Erdogan and Kyrgyz President Sadyr Japarov's trade volume targets of $2 billion in the short term and $5 billion in the medium term at the sixth meeting of the High-Level Strategic Cooperation Council in Bishkek in 2024.

Yilmaz said they discussed all aspects of economic and trade relations between the two countries at the meeting, and that they comprehensively evaluated future steps in areas where there is strong cooperation and potential, such as healthcare, education, energy, industry, culture, and tourism.

He noted that with the action plan, which serves as a joint roadmap, they have identified concrete goals and new areas of work in an array of fields, including bilateral trade relations, industry and energy, transportation, agriculture, education, healthcare, and culture.

Additionally, collaborations will be developed in the mining sector, particularly in rare earth elements and critical minerals.

In the field of industry and technology, joint efforts will be undertaken to establish industrial parks in Kyrgyzstan, he said, adding that a Kyrgyz-Turkish information technology (IT) meeting will be held as part of the Kyrgyz IT Forum to discuss software development, startups, and investments.

He added that cooperation will be strengthened in the development of smart cities, digital transformation, and e-government. In the transportation sector, transit documents used in road transport will be made electronic, reducing bureaucracy.

Yilmaz emphasized that new cooperation channels developed in various sectors, particularly energy, trade, transportation, healthcare, and agriculture, based on a win-win principle, will benefit the entire region.

He said: "Our country, which ranks eighth in Kyrgyzstan's exports and sixth in its imports, is an important trade partner.

"I hope that the commercial and economic relations between our countries will soon reach even higher levels, reflecting our brotherly bond."

Türkiye 5th largest direct investor in Kyrgyzstan

Regarding investments, Yilmaz noted that Türkiye is the country's fifth-largest direct investor, with more than 2,000 Turkish companies operating in Kyrgyzstan and approximately $2 billion in investments.

He also noted that Turkish contracting companies have implemented 95 projects in Kyrgyzstan to date, totaling approximately $1 billion.

"Our traders, investors, contractors -- in short, all our actors in the trade sector -- will continue their joint efforts to further strengthen the economic and commercial relations between our countries, with a strong belief in a prosperous future.

"Today, the Türkiye-Kyrgyzstan Business Forum will be held with broad participation, bringing together the Turkish-Kyrgyz business communities.

"The contacts established by our businesspeople on this occasion will contribute positively to the increase of our bilateral trade, the evaluation of new investment opportunities, and our commercial relations," Yilmaz added.