German Commerzbank, Turkmen Central Bank prepare framework agreement
Turkmenistan, Ashgabat, March 17 / Trend H.Hasanov /
German Commerzbank and the Central Bank of Turkmenistan are preparing a framework agreement designed to promote the further development of the national banking system and investment, Turkmen mass media outlets said on Saturday.
The subject of detailed discussion is possibility of concluding a framework agreement between the Commerzbank and the Central Bank of Turkmenistan aimed at supporting the further development of the country's banking system, as well as investing in oil and gas, transport and infrastructure sectors, in particular the construction of a shipyard in the port of Turkmenbashi, the Neutral Turkmenistan newspaper reported.
Commerzbank is one of the leaders of the European banking sector, having a network of branches and representative offices in over 40 countries.
President of Turkmenistan Gurbanguly Berdimuhamedov had a meeting in Ashgabat with Chairman of the Board of Directors of Commerzbank Martin Blessing, who, according to the Watan newspaper, said about "the bank's willingness to steadily build fruitful cooperation".
"The Federal Republic of Germany has been and remains a strategic partner with which Turkmenistan intends to expand its traditional partnership, both bilaterally and multilaterally, including within the framework of a constructive dialogue with the EU countries," the Turkmen leader said at the meeting.
Blessing said " financial circles of Germany and Europe as a whole appreciate measures undertaken under the supervision of the Head of the Turkmen state to strengthen the national financial and banking system, which allowed Turkmenistan in a difficult time for the world economy, not only to maintain its economic stability, but also to ensure high pace of socio-economic growth".