Russia and Turkmenistan prepare agreement on promotion and mutual protection of investments
Turkmenistan, Ashgabat, March 20 / Trend , corr. G.Hasaov /
Russian Federation and Turkmenistan prepare to sign and inter-governmental agreement on promotion and the mutual protection of investments, official Turkmen source said.
According to the source, this document will contribute to strengthening commercial and economic co-operation of the two states. In this stage, Russia is a strategic partner, moreover large part of the co-operation falls on fuel-energy complex. Annually Turkmenistan supplies nearly 40-50 billion cubic meters of natural gas through the territories of Uzbekistan and Kazakhstan via the Middle Asia - Center pipeline (MAC), which has been existing even from the times of the USSR.
After reconstruction of MAC and launching a new Caspian gas pipeline through Kazakhstan in future, Gazprom JSC plans to twice increase the purchase of Turkmen fuel. The sides consider that signing the agreement will provide investors with favorable legal base and will create possibilities for the wider presence of Russian companies on the Turkmen market.
Such companies as Lukoil, ITERA are interested in the development of natural gas fields on the offshore blocks of the Central-Asian country. In its turn, Turkmenistan can present Russia the products of its textile sphere, especially jean cloth, which is represented in the world trade network WalMart.
Do you have feedback? Contact our journalist at: [email protected]