Turkmenistan, UAE to discuss economic cooperation

Photo: Turkmenistan, UAE to discuss economic cooperation / Economy news

Turkmenistan, Ashgabat, Feb.16 / Trend H. Hasanov /

Cooperation between Turkmenistan and the United Arab Emirates (UAE) in a number of areas will be discussed during UAE President Sheikh Khalifa bin Zayed Al Nahyan's official visit to Ashgabat on Feb.16, the Turkmen government said on Saturday.

According to the report, the upcoming talks of the UAE President with his Turkmen counterpart Gurbanguly Berdimuhammadov will determine new points of mutual interest.

According to the report, the interaction between the two countries is built on the "parity and long term basis for the welfare of the two friendly countries' peoples".

The parties plan to discuss prospects for cooperation in trade and economic, cultural and humanitarian spheres, as well as aspects of international policy of mutual interest.

The projects implemented by the UAE companies in Turkmenistan include the International Treatment Centre of Internal Diseases (nephrology centre), which has been already built, the reconstruction of the Archman" Sanatorium, as well as runway at the airport in the city of Mary.

Companies from this country are noticeably represented.

At this stage, UAE companies are mostly involved in the local energy market. Dragon Oil is working within production sharing agreement in the Turkmen sector of the Caspian Sea. Petrofac has signed a major contract on maintenance services on the development of Galkinish, the largest gas field in the Mari region. In addition, the Mubadala Company is currently holding negotiations on prospects of cooperation over the Caspian Sea.

Both countries are cooperating in the fields of investments, town planning and trade. The projects in the field of communication are being developed, Emirates Telecommunications Corporation (Etisalat), one of the world's major mobile operators from the UAE with over 100 million telephone subscribers, was interested in the local market.

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