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Turkmenistan, South Korea to mull prospects for co-op in various spheres

Turkmenistan Materials 30 March 2015 12:03 (UTC +04:00)
Turkmenistan and South Korea are preparing for the fifth meeting of the joint intergovernmental commission on trade, economic, scientific and technological cooperation.
Turkmenistan, South Korea to mull prospects for co-op in various spheres

Ashgabat, Turkmenistan, March 30

By Huseyn Hasanov - Trend:

Turkmenistan and South Korea are preparing for the fifth meeting of the joint intergovernmental commission on trade, economic, scientific and technological cooperation, the message from Turkmen government said on Mar.30.

It is planned to hold the mentioned meeting in Seoul, South Korea on April 10.

It should be noted that during the last meeting of the Cabinet of Ministers, Turkmen President Gurbanguly Berdimuhammadov stressed the great importance of the comprehensive development of cooperation with the countries of the Asian-Pacific region, including South Korea.

The head of state said that there are great opportunities to boost the cooperation in the trade and economic sphere, energy sector, construction and in the sphere of high technologies.

The total trade turnover between the two countries has increased from $200 million to 1.9 billion over the recent years.

A number of South Korean companies successfully operate in Turkmenistan. LG International and Hundai Engineering Co.LTD implemented the project for development of the Galkynysh field for $1.2 billion on service conditions. It should be noted that Galkynysh field has the largest gas reserve in the country.

Moreover, this consortium got a large project at the refinery in Turkmenbashi city.

Earlier, it was reported that South Korea's Dongil Construction Co. Ltd offered the draft of the 15th stage of development of Ashgabat. The project envisaged the construction of a complex of socio-cultural facilities, residential buildings with improved comfort level by order of several ministries and institutions of the country.

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