Prime Minister Narendra Modi on Friday said India and Kyrgyzstan have prepared a five-year road map to increase the bilateral trade and urged the business communities from both countries to explore the untapped potential in various fields.
Addressing the India-Kyrgyz Business Forum, he said that India and Kyrgyztan have given the final shape to the Double Taxation Avoidance Agreement (DTAA) and the bilateral investment treaty, which would help in creating a conducive atmosphere for the bilateral trade.
Modi and Kyrgyz President Sooronbay Jeenbekov jointly inaugurated the India-Kyrgyz Business Forum.
Ahead of the Modi's visit to Kyrgyzstan, the Union Cabinet had approved the signing and ratification of bilateral investment treaty between India and Kyrgyzstan.
The bilateral treaty is likely to increase flow of investment between India and Kyrgyzstan and provide protection to investors from the two nations making investments in both the countries.
Stressing that the world's economy was rapidly changing and India's economic progress and technological development were the cause of stability and hope for the world, he said, "India is a big market, and young talent and enthusiastic innovators will play an important role in achieving our goal of making India a USD 5 trillion economy."
Apart from DTAA and bilateral investment treaty, he said "We have prepared a five-year roadmap to increase the bilateral trade."
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