PM Modi announces USD 200 mn line of credit for Kyrgyzstan as two sides sign 15 pacts

Prime Minister Narendra Modi on Friday announced a USD 200 million line of credit for Kyrgyzstan after wide-ranging talks with Kyrgyz President Sooronbay Jeenbekov as the two sides upgraded their ties to the strategic partnership level and signed 15 agreements, including one to eliminate double taxation.

Prime Minister Modi and President Jeenbekov held one-on-one restricted meeting followed by a delegation-level talks during which the two sides discussed on stepping up their bilateral engagement to the next level and exploring new areas of cooperation.

Later at a joint press statement, Modi announced the USD 200 million line of credit for Kyrgyzstan and said the two sides have decided to upgrade their ties to the Strategic Partnership level.

Prime Minister Modi also said that the two sides have prepared a five-year road map to increase the bilateral trade.

He said that the two countries share views on several issues and they have signed 15 agreements, including on the Double Taxation Avoidance Agreement (DTAA).

They also signed the Bilateral Investment Treaty (BIT), MoUs in the field of Health, security, defence and Information and Communication Technology.

Prime Minister Modi emphasised on the counter terror cooperation between the two sides and said terrorism cannot be justified in any manner.

"We are together in fight against terrorism, it is imperative to give out a message to the world that terrorism will not be tolerated at any cost," he said.

Earlier, Prime Minister Modi was accorded a red carpet welcome at the Ala Archa Presidential Palace here.

"India & Kyrgyzstan are now strategic partners! In a major outcome of the visit, both countries have decided to add strategic dimension to our ties to boost our relationship in defence & security, trade & investment, health, education & development cooperation, among other areas," External Affairs Ministry spokesperson Raveesh Kumar tweeted after the talks between the two leaders.

Modi arrived in the Kyrgyz capital on Thursday for the two-day Shanghai Cooperation Organisation (SCO) Summit. The SCO is a China-led 8-member economic and security bloc with India and Pakistan being admitted to the grouping in 2017.