BAKU, Azerbaijan, October 13. Kyrgyzstan’s
Minister of Economy and Commerce Bakyt Sydykov and Singapore’s
Minister for Transport and Second Minister for Finance Jeffrey Siow
signed an agreement on the elimination of double taxation with
respect to taxes on income and the prevention of tax evasion via an
online meeting on October 12, 2026.


This was reflected in a statement by the press service of the
Kyrgyz Ministry of Economy and Commerce.


"Today, October 12, 2026, Minister of Economy and Commerce of
the Kyrgyz Republic Bakyt Sydykov and Minister for Transport and
Second Minister for Finance of the Republic of Singapore Jeffrey
Siow signed the Agreement between the Kyrgyz Republic and the
Republic of Singapore for the elimination of double taxation with
respect to taxes on income and the prevention of tax evasion in an
online format," the statement said.


The implementation of the agreement is expected to help
establish a transparent and predictable tax environment, remove
barriers associated with double taxation, and strengthen the
confidence of business communities and investors in both
countries.


"We view the signing of this agreement as an important step
toward establishing a long-term and mutually beneficial economic
partnership between the Kyrgyz Republic and the Republic of
Singapore," Bakyt Sydykov said.







In turn, Jeffrey Siow expressed his gratitude for the signing of
the agreement and noted Singapore’s readiness to expand economic
cooperation with Kyrgyzstan.


During the discussion, the ministers exchanged views on the
development of bilateral trade relations. They noted that the
current level of trade and economic cooperation does not yet fully
reflect the potential of the two countries. In this regard, the
signing of the agreement takes on special significance.


Meanwhile, bilateral trade between Kyrgyzstan and Singapore
reached $11.35 million in 2025, increasing by 40% compared with the
previous year. In the first seven months of 2026, bilateral trade
amounted to $8.54 million, increasing nearly 1.8 times compared
with the same period last year.