Minister of Economic Development and Trade Akylbek Japarov of Kyrgyzstan

Today Minister of Economic Development and Trade of Kyrgyzstan Akylbek Japarov met with head of the European Bank for Reconstruction and Development Resident Office in Bishkek Kenji Nakazawa, director for Constituency for Azerbaijan, Kyrgyzstan, Liechtenstein, Montenegro, Serbia, Switzerland, Turkey, Turkmenistan, Uzbekistan Manuel Sager and banker Dilshot Akhundjanov.

Visiting Kyrgyz Minister of Economy and Finance Akylbek Japarov met with Iranian Foreign Minister Manouchehr Mottaki here on Saturday and discussed avenues for consolidating the two countries' ties, a statement released by the Foreign Ministry's Information and Press Bureau said.

For his part, Kyrgyzstan's Minister of Economy and Finance Akylbek Japarov expressed pleasure with the two countries' relations and said that Bishkek is pleased to observe that the two states' ties have come close to the desirable level and that their trade balance has doubled in comparison with the previous year.

LONDON, October 8 (IranMania) - Iranian Ambassador to Bishkek Mohammad-Reza Sabouri in a meeting with Kyrgyz Minister of Economy and Finance Akylbek Japarov discussed implementation of the memorandum of understanding (MoU) which was mutually signed during the eighth joint economic commission meeting, IRNA reported.

According to a report released by Iranian Embassy in Kyrgyzstan, at the meeting, Japarov said that the high-ranking officials of the two countries are willing to broaden bilateral economic and trade ties.

Mr Japarov said that it has increased prices for flour products, combustive-lubricating materials, including diesel oil by 12.

Japarov said Kyrgyzstan is running a risk of becoming a unique country with foreign sales turnover exceeding GDP.

Last week, Kyrgyz finance minister Akylbek Japarov said the next three years will be the most difficult for Kyrgyzstan in terms of servicing the external debt.

A letter from a group of businessmen published April 5 by the newspaper complained that Japarov is gutting the staff at the ministry, replacing them with relatives and members of his own clan, which hails from the Naryn Region in eastern Kyrgyzstan.

Finance Minister Akylbek Japarov said on September 26 that if the country implements the programme's requirements successfully, its external indebtedness would be reduced by 800 million US dollars, or 40 per cent of its two billion dollar total foreign debt.

A drop in the amount of money sent home from migrant laborers working abroad and falling investment rates could start to affect the country by early next year, Akylbek Japarov said during a televised government meeting.

Japarov said an agreement to that effect was signed 15 months ago, but that the lack of common standards between Kyrgyzstan and Iran has delayed its implementation.

Japarov was in Tehran earlier this month to discuss economic ties with President Mahmud Ahamadiejad and other Iranian officials.

Japarov said the agreement is a signal to investors that the rules of the game will be sufficiently simple and clear, in contrast to the deals made during the Akayev era.

Japarov said that the new deal contained provisions designed to discourage either side from dumping shares precipitously, although he eventually expected Cameco to sell its stake.

Japarov said a similar inflation trend in other countries has also impacted the Kyrgyz economy.