China to expand presence on Turkmen market
Ashgabat, Turkmenistan, March 18
By Huseyn Hasanov - Trend:
A Turkmen-Chinese business forum was held at intergovernmental level in Ashgabat. The expansion of China's presence in the local market was discussed, the Turkmen media reported on March 18.
'The China International Trade Institute, Shaanxi Iseway Investment, Gongke Industrial Group, MCC8 Group Co, Shanghai High Pressure, Sinochem Agro Co, Xi an Luntak Exhibition Co, Xian Datang West Market Sultural Industri Investment and others are among those which have entered the Turkmen market with proposals and projects for the first time', Neutral Turkmenistan newspaper reported on March 17.
The Chinese side was led by the Vice - President of the Chinese committee for the foreign trade development Zhang Wei, the Turkmen Dovlet Habarlary reported.
'This meeting of representatives from Chinese state organisations and business people with Turkmen colleagues was another important step towards further elaboration and implementation of plans and joint projects, examining new opportunities and prospective forms of cooperation, including at the level of business organisations of the two countries', according to the statement.
Chinese companies specialising in the automotive industry, the construction of roads and bridges, industrial equipment, production of petrochemicals and fertilisers attended the forum.
Moreover, the Chinese partners presented a project to jointly establish the Silk Road Economic Belt as a new model of regional cooperation which aims to strengthen political contacts, transport communications and trade relations, according to the Altyn Asyr TV channel.
An impetus for strengthening the cooperation was given during Chinese President Xi Jinping's official visit to Turkmenistan last September.
Stable growth is observed in the turnover between Turkmenistan and China. The annual volume of exports and imports is around $9 billion.
Turkmenistan is actively acquiring vehicles for the rail industry and telecommunication equipment in China.
China has become a key buyer of Turkmen gas and expects to increase its annual purchases up to 65 billion cubic meters of gas.
Turkmenistan is one of the key players on the gas market in the Caspian region. It ranks fourth on natural gas reserves in the world.
Ashgabat and Beijing agreed to take measures to promote and protect mutual investments.
Translated by NH
Edited by SM