BAKU, Azerbaijan, November 27. Key factors for boosting trade between Austria and Kyrgyzstan include enhancing trade agreements to lower tariffs and trade barriers, as well as establishing investment agreements, the Austrian Ministry of Finance told Trend.
“Raising awareness and promoting the strengths of each country’s market would help businesses in both Austria and Kyrgyzstan identify mutual benefits and opportunities, thereby strengthening their trade relations," the ministry added.
According to the ministry, Austrian investors in Kyrgyzstan are likely to focus on initiatives in sustainable energy, particularly in hydropower, in line with the global shift toward renewable energy sources. Additionally, infrastructure development, especially in the areas of transportation (such as cable cars and toll systems) and logistics, is expected to be a key area for investment.
"The current Austrian export to Kyrgyzstan remains relatively modest, amounting to nearly 30 million euros in 2023, mainly consisting of machinery and pharmaceuticals. However, several sectors could be attractive to Austrian companies, particularly in infrastructure, renewable energy, and technology. Investments could focus on modernizing transport and logistics infrastructure to improve trade routes and market access. Projects in renewable energy, particularly hydropower, which leverage Kyrgyzstan's natural resources, are also highly attractive," the source explained.
The ministry also highlighted promising opportunities in tourism and agriculture, noting Kyrgyzstan's strong potential in eco-tourism and agricultural production as areas for future collaboration.