India and Kyrgyzstan sign six agreements

New Delhi: Deepening their ties, India and Kyrgyzstan today finalised broad contours of a bilateral investment treaty and inked six other pacts covering a range of areas besides resolving to work closely to combat challenge of terrorism, extremism and radicalism.

Prime Minister Narendra Modi and Kyrgyz President Almazbek Atambayev held comprehensive talks and agreed to step up engagement in key areas of defence, security and trade with specific focus on mining, IT, agriculture and energy.

“We discussed how we could work together to secure our youth and society against common challenges of terrorism, extremism, and radicalism. We agreed on the need to coordinate and work closely in addressing and overcoming these challenges for our common benefit,” Modi said in a media statement.

A joint statement issued after the talks said the two leaders noted the challenges posed by terrorism and extremism globally as well as in the Asian continent, and emphasised the importance of ensuring a stable and secure environment for peaceful economic development.

Aiming to broaden economic engagement, the two countries initialled a bilateral investment treaty which will provide protection to investors in each others country apart from creating enabling environment for trade to grow.

The six MoUs will provide for deeper cooperation in areas of agriculture, tourism, culture, broadcasting and youth affairs.

In his comments, Atambayev said he was not happy over the current volume of bilateral trade as there was huge untapped potential for its expansion and called for removing bottlenecks in transportation of goods between the two countries through Iran.

To ramp up economic engagement, both sides, during the talks, directed the ministries concerned to develop a comprehensive road-map for a five-year timeframe.

Atambayev also proposed the creation of Kyrgyz-Indian fund, like the Kyrgyz-Russian one, to support entrepreneurs from India.