Bishkek (TDI): The second and final day of the CAREC Business Forum, happening in Kyrgyzstan, was buzzing with conversations around the country’s economic potential and how it connects and compliments CAREC projects and corridors.
In addition to two regular sessions, the day also came with networking and business matchmaking opportunities as participants enjoyed exclusive time in the exhibition and networking hall. The business to business and business to government interactions were also formalized in signing of business partnerships as the Forum concluded.
The signing of partnerships was jointly witnessed by the the Minister of Economy and Commerce of Kyrgyzstan and the Vice-President (South, Central and West Asia), Asian Development Bank (ADB), Yingming Yang.
To open the second day, ADB’s President, Masato Kanda, joined in and delivered an opening address. CAREC, a partnership of 11 countries and multilateral development institutions, operates under the auspices of the ADB.
Its secretariat is located inside ADB’s headquarters in Manila, Philippines. CAREC’s flagship business forum initiative aims to foster regional collaboration among member governments, the private sector, investors, and development partners.
As the second day of the Forum was specifically dedicated to discussions around the host country, the Chairman of the Cabinet of Ministers and Head of the Administration of the President of Kyrgyzstan – Adylbek Kasymaliev made the keynote remarks.
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He outlined the key targets of the National Development Program of Kyrgyzstan until 2030. He also noted that economic growth has been above 9% for the fourth consecutive year.
“The high level of economic activity is based on effective state measures aimed at modernizing the economy, improving the investment climate and competitive environment, as well as carrying out reforms in the field of public administration,” Minister Kasymaliev said.
After these two high-level speeches, the first session of the day formally convened, where the lead speaker was the Minister of Economy and Commerce of Kyrgyzstan, Bakyt Sydykov. The session, titled Regional Logistics Hub – Spotlighting the Kyrgyz Republic, had four other panelists.
- Yingming Yang, Vice-President (South, Central and West Asia), ADB
- Absattat Syrgabaev, Minister of Transport and Communication of Kyrgyzstan
- Aibek Kurenkeev, President of the E-commerce Association of Kyrgyzstan
- Mukhtar Dzhumaliev, Trade Expert and Former Ambassador Extraordinary and Plenipotentiary of of Kyrgyzstan to Luxembourg
The second session, titled Digitalization and Smart Logistics in the Kyrgyz Republic, was organized by the CAREC Institute and was moderated by Masahiro Nishimura – the Unit Head of Project Administration and Transport at ADB.
the panelists of this session discussed key digital infrastructure and policy enablers that are needed to enhance Kyrgyzstan’s logistics competitiveness. They also explored single-window systems, customs data exchange, and e-transit platforms that can help reduce bottlenecks such as border delays.
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Another important point that surfaced during the conversation was Kyrgyzstan’s digitalization efforts which, the panelists noted, serve as a model for other CAREC members. They also brought to light the key challenges in e-logistics and digitalization of CAREC Corridors; particularly building on the policy recommendations presented in a recent study by CAREC Institute.
As the second session came to close, the participants turned to the exhibition area where latest technologies in smart ports, cargo tracking, paperless trade solutions, fintech, E-commerce, sustainable tourism, and agri-tech were displayed.
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