Kyrgyzstan should urgently improve its competitiveness in garment industry and agricultural processing, World Bank's Country Manager for Kyrgyzstan Alex Kremer told Tazabek in an interview.
He believes that these two sectors in Kyrgyzstan possess potential competitive advantage, but they will have to adapt very quickly to higher tariffs on imports from China and to the requirements of quality of the Customs Union.
The World Bank has assisted Kyrgyzstan to implement a project on establishment of institutions for standardization, quality testing, certification and metrology, Alex Kremer said.
Currently, the International Finance Corporation (IFC) is supporting the State Inspectorate for Veterinary and Phytosanitary Safety to improve the national legislation in the field of food safety and bringing it into line with international best practices. This process will consider requirements of the Customs Union as well.
In addition, he went on, the IFC is currently carrying out a project to improve the investment climate in Kyrgyzstan, including improvement of the business environment for agricultural companies. Assistance will be also provided in optimization of a number of regulatory requirements and improvement of the skills of employees so that Kyrgyz food production would meet safety standards and become competitive at international markets.
There are certain benefits and risks within Kyrgyzstan's accession to CU, World Bank's Kremer says