India, Kyrgyzstan have prepared 5-yr roadmap to increase bilateral trade: PM Modi

Prime Minister Narendra Modi on Friday said India and Kyrgyzstan have prepared a five-year ro map to increase bilateral tre and urged business communities from both countries to explore untapped potential in various fields.

dressing India-Kyrgyz Business Forum, he said that India and Kyrgyztan have given final shape to Double Taxation Avoidance Agreement (DTAA) and bilateral investment treaty, which would help in creating a proper atmosphere for bilateral tre.

PM Modi and Kyrgyz President Sooronbay Jeenbekov jointly inaugurated India-Kyrgyz Business Forum.

PM Modi said that "at a time when world ecomy is rapidly changing, we need to look at opportunities of ecomic partnership between two countries".

"re are three catalysts for growth of bilateral tre and investment opportunities. y are proper atmosphere, connectivity and business-to-business exchanges," he said.

Ahe of Modi's visit to Kyrgyzstan, Union Cabinet, chaired by Prime Minister Modi, has approved signing and ratification of a bilateral investment treaty between India and Kyrgyzstan.

bilateral treaty is likely to increase flow of investment between India and Kyrgyzstan and provide protection to investors from two nations making investments in both countries.

He said Kyrgyzstan provides good opportunities for Indian businessmen in field of textiles, railways, hydropower, mining and mineral explorations.

He also invited Kyrgyz businessmen to come to India to explore opportunities of bilateral tre. 

Modi said connectivity plays an important role for ease of tre between two countries and Chabahar port (in Iran) has emerged as new route between India and Afghanistan.

"re is a need for us to focus on increasing connectivity between India and Central Asia. Republic of Kyrgyzstan is part of Eurasian Union and we are working to increase tre with Eurasian Union," he said.

Modi is in Kyrgyz capital to attend Shanghai Cooperation Organisation (SCO) Summit. SCO is a China-led 8-member ecomic and security bloc with India and Pakistan being mitted to grouping in 2017. Or members of grouping are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.