President Sadyr Japarov of the Kyrgyz Republic invited European investors to participate in Kyrgyzstan's large-scale hydropower and transport projects in his recent meeting with Josep Borrell, the High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, presidential press service reported.
President Japarov welcomed Josep Borrell, during his official visit to Kyrgyzstan on August 3. In their meeting, President Japarov and High Representative Borrell exchanged views on various issues, emphasizing the prospects for trade and economic cooperation, investment, and joint projects in energy, transport, water resources, and digitalization.
President Japarov highlighted the European Union's role as a reliable partner for Kyrgyzstan's sustainable development since its independence.
Josep Borrell reflected positively on President Japarov's recent visit to the EU headquarters in Brussels and noted the potential of the Agreement on Enhanced Partnership and Cooperation, which was signed during that visit, to bolster bilateral relations, particularly in trade, economic, and investment sectors.
Borrell confirmed the EU's commitment to deepening its cooperation with Kyrgyzstan and its readiness to pursue joint projects in areas of mutual interest.
The European Union and Kyrgyzstan have been partners since the country's independence in 1991, with cooperation formalized through a Partnership and Cooperation Agreement (PCA) in 1999. On June 25, 2024, both parties signed an Enhanced Partnership and Cooperation Agreement (EPCA) to further strengthen their bilateral relations.
Trade between the EU and Kyrgyzstan saw an increase, with trade in goods reaching €2.845mn in 2023, up from €1.318mn in 2022, marking a 115.8% rise. Since 2016, Kyrgyzstan has benefited from tariff-free, quota-free access to the EU market for two-thirds of all products through the Generalised Scheme of Preferences+ (GSP+). This scheme provides zero customs duties on over 66% of goods, offering Kyrgyzstan opportunities to diversify its exports and strengthen its economy.
Kyrgyzstan has committed to implementing 27 core international conventions on human and labor rights, environmental protection, and good governance, which are regularly monitored by the EU and the UN.
In addition, bilateral cooperation includes €62mn in total resources allocated for the period 2021–2024.
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