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Minister of Economic Affairs of the KR and ADB Vice President discussed bilateral cooperation

Minister of Economic Affairs of the Kyrgyz Republic Temir Sariev met with Wencai Zhang, Vice President of the Asian Development Bank (ADB). The main purpose of the meeting was to discuss the state and prospects of bilateral cooperation of the Kyrgyz Republic and ADB. They also discussed issues of regional development.

According to the press service of the Ministry of Economy, in the course of negotiations Sariev noted the important role of the ADB in economic development of Kyrgyzstan, in particular, successful cooperation within the framework of improving the investment climate, introduction of public-private partnership, and other ADB projects, implemented by the Ministry of Economy .

The minister also stressed the need for further development of relations in the framework of regional cooperation under the Central Asia Regional Economic Cooperation (CAREC). In recent years, one of the most important objectives of ADB has been the development and strengthening of regional cooperation. The CAREC Program is an effective tool for development in the core areas of cooperation, such as transport, trade facilitation, trade policy, and energy.

In turn, Mr. Wencai Zhang reported on the effectiveness of ADB's cooperation with Kyrgyzstan. He informed that ADB is currently working on a project of transformation of transport corridors into economic corridors. He stressed that the projects in Kyrgyzstan, must be combined with the priorities of the CAREC Program.

The sides also discussed prospects of the Kyrgyz Republic’s entry into the Customs Union.

In conclusion, the two sides expressed hope for further fruitful and effective cooperation.

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