OREANDA-NEWS. May 28, 2009. A business forum “Kyrgyzstan - Saudi Arabia: New opportunities for cooperation” was held in Bishkek.

The forum was attended by 36 businessmen and members of the royal family of Saudi Arabia. Vice-Chairman of the Council of Chambers of Commerce and Industry of the Kingdom of Saudi Arabia, Abdul Rahman Al-Jerasy, headed the Saudi delegation.

The members of the Saudi delegation represented such sectors of economy as construction, banking (Islamic principles of financing), tourism, healthcare, food and household appliances, metallurgy, safety, information technologies, etc.

IBC members also made presentations at the forum. Thus, MGN Group CEO Yevgeny Gurevich informed on  the economic  situation in Kyrgyzstan during the financial crisis. Partner of “Kalikova and Associates” Law Firm,  Ulan Tilenbaev, spoke on legal aspects of doing business in the Kyrgyz Republic.

The participants of the forum also discussed important business issues, such as taxes and customs procedures, human resources, privatization of state property, development of the tourism industry, and others.

At bilateral meetings Kyrgyzstani businessmen presented their investment projects to the Saudi delegation. Kyrgyzstan offered Saudi businessmen cooperation in such areas as energy, communications, agriculture, mining and others. Arab businessmen could also help the country modernize hydropower stations and  transport system, as well as develop small mineral deposits.

The projects which were presented to the Saudi delegation interested the business community of Saudi Arabia, said Abdul Rahman Al-Jerasy at a meeting with the Kyrgyz Prime Minister Igor Chudinov.

“The potential of economic relations between our countries is higher than its current level, so our joint objective is to maximize this potential,” Chudinov believes.