Turkmenistan has no foreign debt: Turkmen President
Turkmenistan, Ashgabat, Nov.28 / Trend , H.Hasanov /
"Turkmenistan is among the countries which do not have the foreign state debt. On the contrary, some countries are in debt to us for supplied Turkmen natural gas," Turkmen President Gurbanguly Berdimuhammedow said. His speech was published by the Turkmen media.
According to its proven natural gas reserves Turkmenistan is among the four world countries having this fuel. According to the forecasts of the independent audit, the resources of only one field Southern Yoloten (eastern part of the country) is estimated to the amount of 14 trillion cubic meters of gas.
Russia and Iran have been the traditional markets for sale of Turkmen gas recently. China will join this list by late 2009. The projects covering India and Europe are being considered.
An article about the country's transition to the market economy was published in the newly updated edition of the Constitution. Berdimuhammedow said that national currency was denominated in time. The reserve fund has been established. It has not been used due to no necessity.
"The stable social-political situation, sustained growth of national economy, permanent national currency, a strong reserve base and a reliable legal system, which guarantees reliability of investments greatly contribute to attractiveness of the Turkmen market, " Turkmen President said.
The Turkmen leadership said that foreign partners operating in Turkmenistan are provided with tax, customs, visa, insurance and other benefits to stimulate the growth of investment activity. It creates favorable conditions for long-term investments and expansion of partnership.
Berdimuhammedow said that these facts confirm the published reports of experts of International Monetary Fund, World Bank, European Bank for Reconstruction and Development.
The Turkmen President drew attention to the fact that representatives of the major international financial institutions forecast further steady progress of Turkmenistan, raising its rating "as a state which is the most attractive one for investments".