The Honourable Marc Garneau, Minister of Foreign Affairs and the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, today issued the following statement:
“As a significant investment partner of the Kyrgyz Republic, Canada is very concerned about continued developments in the mining sector. We are disappointed with the decision taken at the extraordinary session of the Parliament of the Kyrgyz Republic on May 17 to move forward with the imposition of external management on the Kumtor Gold Company, and statements made during the parliamentary session that Kyrgyz control will be sought over a publically traded Canadian-based company with multiple international assets. This will potentially have far-reaching consequences on foreign direct investment in the Kyrgyz Republic.
“Canada is also disappointed that this dispute between foreign investors and the Government of the Kyrgyz Republic was not allowed to be resolved transparently by the parties working together.
“Full economic recovery from COVID-19 requires a transparent and fair business environment. Measures such as this that have the potential to reduce trade and foreign direct investment will further undermine the economic livelihoods of the Kyrgyz people.”