Kyrgyzstan's Minister of Economy Oleg Pankratov has said that the Central Asian country wants to benefit from Turkey's experience in the Public-Private Partnership (PPP) model and free economic zones.

According to a statement released by the Turkish Contractors' Association (TMB) yesterday, Pankratov and his delegation attended a business dinner hosted by the association's board member, Kartal Usluel.

Pankratov pointed to the investments made in Turkey using the PPP model and noted that they want to take advantage of its experience in using the model. "We also want to benefit from Turkey's experience in free economic zones," he added.

He said Kyrgyzstan was drawing up a new regulation for the PPP model to attract foreign direct investment. "This regulation will facilitate procedures by reducing the duration of PPP projects to the range of three to 30 years. It is expected to go through the Parliament and become a law soon," he said.

He added that the recent talks between the Turkish and Kyrgyz presidents have accelerated the economic relations between the two countries. Pankratov said that both countries set out to raise mutual trade to $1 billion and increase reciprocal investments.

The minister further spoke of a wide range of investments, including airport, railway, road and stadium projects, as well as power transmission lines, small hydroelectric power plants and water and solid waste projects.

Usluel, on the other hand, said that Turkish firms in Kyrgyzstan have undertaken to date a total of 71 projects worth $744 million. He highlighted that the projects, such as the modernization of Bishkek and Osh airports, motorway, dam construction as well as repair and construction of urban roads come to the fore in this regard.

"Turkish companies, which are generally very active in the Eurasian region, are ready to take on more projects in Kyrgyzstan," he added.