Bishkek, Oct. 13, 2026 /Kabar/. On October 12, Bakyt Sydykov, Minister of Economy and Commerce of Kyrgyzstan, and Jeffrey Siow, Singapore’s Minister for Transport and Second Minister for Finance, signed an agreement online to eliminate double taxation on income and prevent tax evasion.
According to the ministry, the implementation of this agreement will help create a transparent and predictable tax environment, remove barriers associated with double taxation, and boost confidence among the business communities and investors of both countries.
"We view the signing of this agreement as a significant step toward establishing a long-term, mutually beneficial economic partnership between Kyrgyzstan and Singapore," said Bakyt Sydykov.
For his part, Jeffrey Siow expressed appreciation for the signing of the agreement and noted Singapore's readiness to expand economic cooperation with Kyrgyzstan.
It is reported that during the discussion, the ministers exchanged views on the development of bilateral trade ties. They noted that the current level of trade and economic cooperation does not yet fully reflect the potential of the two countries. In this context, the signing of the agreement takes on particular importance.
For reference: In 2025, trade turnover between Kyrgyzstan and Singapore reached US$11.35 million, an increase of 40 percent compared to the previous year. In the first seven months of 2026, the volume of mutual trade amounted to US$8.54 million, an increase of nearly 1.8 times compared to the same period of the previous year.
