Turkmenistan announces prospective areas of cooperation with Germany

Business Materials 24 January 2011 16:31 (UTC +04:00)

Turkmenistan, Ashgabat, Jan. 24 / Trend H. Hasanov /

The trade turnover between Turkmenistan and Germany exceeded $339 million as of 2010, Turkmen media reported.

An article published in the Neutralniy Turkmenistan newspaper this week is dedicated to the next meeting of a joint Turkmen-German working group, recently held in Berlin. The energy symposium was held within it.

The parties agreed to establish more contacts in trade, energy and other fields, as well as in culture. The next meeting of the joint group will be held in May this year. The Turkmen-German economic forum is scheduled for November.

"Turkmenistan cherishes the friendly relations and fruitful cooperation with Germany, a country having leading positions in economic development in Europe, and is one of our most important partners," Turkmen President Gurbanguly Berdimuhamedov said at a recent governmental meeting.

The president named a number of promising areas, including transportation and communications, education, science, construction, supply of modern machinery and equipment, interaction through high-tech industries, as well as the use of alternative energy sources.

According to the Turkmen Trade and Foreign Economic Relations Ministry, more than 50 enterprises with German capital, as well as about 100 investment projects and contracts with German companies were registered.

In particular, some German companies modernized the largest oil refinery in the city of Turkmenbashi on the Caspian Sea. The loans of the leading German banks were used.

Such companies as Mannesman, MAN, Bentek, Wintershall, Siemens, Unionmatex GmbH proved themselves.

Airbus, Cifal, Thyssen Krupp, Knauf, Goetzpartners, Inhar, Textina, each interested in the Turkmen market, may join this list. In April 2009 the Turkmen government signed a long memorandum with one of the leading traders of natural gas on the EU market - RWE AG, which is carrying out exploration in the Turkmen Caspian shelf.