Ashgabat, Seoul mull trade, economic co-op

Business Materials 29 March 2018 16:16 (UTC +04:00)

Ashgabat, Turkmenistan, March 29

By Huseyn Hasanov – Trend:

Turkmen Foreign Ministry hosted a meeting with the delegation of South Korea headed by Korea National Diplomatic Academy (KNDA) Chancellor Cho Byung-jae, the Turkmen Foreign Ministry said in a message.

The sides exchanged views on the issues of the international agenda, trade and economic cooperation between the two countries.

Cho Byung-jae expressed confidence that a lot of work will be further done to develop friendly relations between the two countries.

It was earlier reported that Seoul hopes for partnership with Turkmenistan in such areas as development of gas fields, creation of petrochemical and gas infrastructure.

South Korean LG and Hyundai with Japanese TOYO are building a polyethylene and polypropylene production complex in the village of Kiyanly, near the Turkmen coast of the Caspian Sea.

The total cost of the project is more than $3.4 billion. The facility is scheduled for commissioning in September 2018.

Meanwhile, Ashgabat and Seoul pay special attention to the transport sector in the context of development of transit and logistics infrastructure along the East-West and North-South routes, giving access to European and Middle Eastern markets.