The UAE-Kyrgyzstan trade exchange has witnessed an amazing growth trajectory
over the years, offering a huge potential for growth in the years to come.
In a step aimed at boosting the trade relations between Kyrgyzstan and Ras
Al Khaimah, HE Omuraliev Kubanychbek, Consul General of Kyrgyzstan Republic
to the UAE, visited Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the
fastest-growing and most cost-effective free trade zones in the UAE.
HH Sheikh Faisal Bin Saqr Al Qasimi, Chairman of RAK FTZ, welcomed HE
Kubanychbek at RAK FTZ and discussed a wide array of business cooperation
between the free zone and Kyrgyzstan. The consul general later toured the
facilities at the free zone's Business Park and held discussions with top
officials of the free zone.
The one-day visit included a presentation on RAK FTZ's unique facilities and
salient advantages of setting up businesses and investments within the free
zone. This was followed by presentations by RAK Chamber and RAK Tourism and
Investment Authority on areas of strategic cooperation.
Talking about the visit and its potential, HH Sheikh Faisal said: "We are
extremely honoured to welcome HE Omuraliev Kubanychbek to RAK FTZ. We have
discussed a wide range of sectors for closer business relations and see a
lot of fruitful cooperation stemming out of this visit. This mission was a
great opportunity to strengthen our positioning as a business hub geared at
helping SMEs from Kyrgyz Republic set up base in RAK FTZ and grow their
presence in the Middle East, given our strategic location. We see a strong
commitment from Kyrgyzstan to enhance their trade relations with RAK FTZ and
the UAE."
UAE is a key re-export hub for Kyrgyzstan, and the total volume of trade
between the two countries in 2011 amounted to Dhs61.95m. A large chunk,
worth Dhs58.72m (95%), was re-export, while non-oil export touched Dhs2.69m.
Kyrgyzstan imported live sheep, goats, natural honey, tableware, and printed
books and brochures from the UAE, while non-oil imports into the UAE
included paints, varnishes, acrylic polymers and cement, among others.
The UAE-Kyrgyzstan trade exchange has witnessed an amazing growth trajectory
over the years, offering a huge potential for growth in the years to come.
Currently, companies from Kyrgyzstan Republic that operate in RAK FTZ deal
in auto spare parts, foodstuff, readymade garments, computer software and
general trading.