Senior business leaders from Iran and Kyrgyzstan have urged the formation of joint investment strategies and banking agreements to unlock the full trade potential between the two countries, which remains far below capacity.
Qadir Qiafeh, Vice President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture, said bilateral trade currently stands at $106 million – an amount he described as insufficient given the opportunities available to both nations.
“Joint investment in logistics and transportation can help reduce the final cost of goods for both sides,” Qiafeh said at a meeting with his Kyrgyz counterpart on the sidelines of Iran Expo 2025 in Tehran on Thursday. “We also need clear banking and monetary agreements to advance our economic ties.”
He called on the chambers of commerce and small and medium-sized enterprises (SMEs) in both countries to develop a targeted plan to expand trade cooperation. Participation in each other’s specialized exhibitions, he added, could enhance mutual understanding and foster effective private-sector links.
Mamasadyk Bakirov, Vice President of the Kyrgyz Chamber of Commerce and Industry, echoed the sentiment, saying that while the two nations have significant potential, some obstacles must be addressed. “We must explore practical ways to bring our business communities closer together,” he said.
He noted that Iran currently enjoys a trade surplus in bilateral exchanges, but said a more balanced trade relationship is needed. Bakirov proposed the creation of a joint chamber of commerce and the establishment of trade centers in Tehran and Bishkek as concrete steps toward deepening economic relations.