Kyrgyzstan and Iran are strengthening economic cooperation. Kyrgyz Minister of Economy and Commerce Bakyt Sydykov and President of the National Development Fund of Iran Mehdi Gazanfari signed a Framework Memorandum of Understanding at a meeting in Tehran. The document provides for the creation of executive mechanisms for a joint investment committee.

Under the agreements, the National Development Fund of Iran will open a credit line of €50 million. The funds will be used to support the export of Iranian technical and engineering services to Kyrgyzstan. There are also plans to establish an Iranian-Kyrgyz investment office, which, according to Minister Sydykov, should become a driver for attracting investment in industry, energy, and infrastructure.

The parties hope that the signing of the Memorandum will mark the beginning of a new stage in trade and economic partnership and will increase trade between the countries in the near future.