Countries strengthen global trade ties

City of Bishkek-- Kyrgyz President Kurmanbek Bakiev recently had a one-on-one talk with Chinese President Hu Jintao in this city. The meeting focused on establishing better global trade ties between the two countries. Bakiev told reporters that he and Hu agreed on all views and positions. The meeting was held prior to the Shanghai Cooperation Organization (SCO) summit held on August 16, where representatives from SCO member countries tackled global trade, regional security, and human rights issues.

The SCO summit featured a deliberation of key issues like solutions to illegal drugs, proper confinement of animals, global trade, environmental protection, and education. After the summit, the six SCO world leaders flew to Russia the next day and monitored the on-going SCO anti-terrorism military exercises. The SCO leaders will next visit Kazakhstan to hold another round of talks.

Meanwhile, Russia finally relieved Afghanistan of its bilateral debt amounting to $10 billion, saying that it was part of the country's bid to stabilize global trade. The announcement was made during a ceremony held in Moscow on Monday, August 6.

The agreement was the result of last year's thorough deliberation among Paris Club members. This aimed at strengthening the global trade ties of the two countries by helping Afghanistan recover from its failing economy.

Russian Minister of Finance Alexei Kudrin said that the event was historical for both countries since it can strengthen their global trade partnership. In response, Afghan Finance Minister Anwar-ul Haq Ahadi said that they are open to further economic tie-ups with Russia. Seen as potential allies to the country's economic growth, Russian investors are all welcome to do global trade in the Afghanistan market.