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In a bid to deepen bilateral economic cooperation, Union Minister for Heavy Industries and Steel, HD Kumaraswamy, held high-level discussions with the Kyrgyz Republic's Minister of Economy and Commerce, Bakyt Sidikov, in Bishkek on Wednesday.
The meeting focused heavily on expanding mutual market opportunities, accelerating industrial development, and strengthening investment frameworks between the two countries. In a post on X, the Union Minister informed of fruitful discussions on strengthening economic ties between India and Kyrgyzstan. "A meeting was held today in Bishkek with the Honorable Mr. Bakyt Sidikov, Minister of Economy and Commerce of the Kyrgyz Republic. We held fruitful discussions on strengthening economic ties between India and Kyrgyzstan and explored new opportunities for cooperation in trade, production, industrial development, and investment," he posted. The ministerial-level talk served as a strategic platform to chart out future collaborations, aligning with the regional priorities of the Shanghai Cooperation Organisation (SCO). Deliberations centred on boosting heavy production sectors, heavy machinery, and steel value chains. Both leaders explored newer, direct avenues to ease manufacturing and product investments between the two markets. The discussions underscored a unified vision to establish robust, resilient partnerships aimed at driving financial prosperity across both regions. "Our shared commitment to expanding economic and industrial relations and creating mutually beneficial partnerships that contribute to the prosperity of both nations was reflected in the discussions," said Kumaraswamy. Apart from this, Birender Singh Yadav, India's Ambassador to the Kyrgyz Republic, also participated in the discussions. The high-profile engagement comes at a crucial juncture as India steadily intensifies its Central Asian reach under the broader umbrella of the Viksit Bharat and Aatmanirbhar Bharat initiatives. Emphasising the core philosophy behind the outreach, Kumaraswamy highlighted that under the leadership of Prime Minister Narendra Modi, India's foreign economic policy continues to prioritise "trust and innovation" to solidify ties with key international partner countries. The Minister had further added that India is further expanding its partnership with its collaborating countries. "Under the visionary leadership of the Honorable Prime Minister Mr. @narendramodi, India is deepening its relations with partner countries and strengthening economic cooperation through trust and innovation," he said. As per the government data, India-Kyrgyz Republic bilateral trade during the year 2024 was nearly USD 116.88 million. India's exports to the Kyrgyz Republic were USD 89.48 million, while India's imports were USD 27.40 million. India's exports to the Kyrgyz Republic, among others, comprise pharmaceuticals, electrical machines, nuclear reactors, apparel and clothing and ceramic materials. Kyrgyz Republic exports to India include precious metals, vegetables and edible roots, mineral fuel etc. (ANI)
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