Good News of Iran National Innovation Fund (INIF) for TBFs in Export Fields - english
Good News of Iran National Innovation Fund (INIF) for TBFs in Export Fields
Afternoon of current day, a meeting was held in office building of INIF to introduce permanent exhibition of knowledge-based products in Kyrgyzstan and Iranian Trade House in Bishkek.
In this meeting, Dr. Siavash Malekifar, chief development officer of INIF stated about expanding business relations between Iran and Kyrgyzstan. “Kyrgyzstan is trying to use all potential of Iranian TBFs in its country, so we are pursuing in process of expanding trade between two countries, in this field.”
Moreover, he pointed to launch of new export tools in INIF portfolio, stating, "Next year, our export financing tools’ support for TBFs will be more complete." The fund's support portfolio in field of financing tools includes supporting and launching overseas product lines, renting and buying work-office, etc. In this regard, a business delegation including Iranian firms will travel to Kyrgyzstan; as well, our cooperation with this country will be taken more seriously, about 70% of all business delegation travel costs will be covered by INIF, so we hope that this travel will be fulfilled until end of current year.
According to this report, Baysi Makov, Economic Consultant for Kyrgyz Embassy in Tehran, commented on investment opportunities in this country and stated, Currently, about 300 contracts has been concluded in different economic and investment fields between two countries. Since, there are good relations between two countries at present, the turnover has not exceeded $30 million. Therefore, this turnover should increase to over $100 million. So far, 257 firms have been registered with participation of Iranian investors in Kyrgyzstan, and official statistics shows 64 of them are active in this country.
Baysi Makov pointed to increased interactions with opening of a direct flight between Iran and Kyrgyzstan, expressing hope in this regard, stating that on February 3 of current year, first flight of Tehran-Bishkek will be launched. Monday of every week there will be a return/round flight. Should be mentioned, although Kyrgyzstan has a small market with a population of 5 million, but it can provide Iranian companies with an opportunity to access larger markets through Kyrgyzstan because of membership in EU-Asia Trade Union. For example, entering to Russian market through Kyrgyzstan is one of these opportunities. Therefore, it is possible to invest through Kyrgyz Investment Request Agency.
As well, at end of meeting, Baysi Makov pointed to investment opportunities for Iranian companies in Kyrgyzstan, stated, there are five countries in Central Asia that supply 40% of their required water from Kyrgyzstan's water resources and the rest (60%) from Tajikistan. Kyrgyzstan has fertile soil for agricultural industry, as well as is possible to invest in medicine production.