Turkmenistan, Uzbekistan mull stimulation of investment activity

Ashgabat, Turkmenistan, Feb. 27

By Huseyn Hasanov – Trend:

A telephone conversation took place between the presidents of Turkmenistan and Uzbekistan Gurbanguly Berdimuhamedov and Shavkat Mirziyoyev at the initiative of the Uzbek side, Trend reports with reference to the Turkmen TV channel Altyn Asyr Feb. 27.

The heads of state noted the presence of favorable opportunities for the implementation of new joint projects, identifying among the priority areas the energy complex, the development of transport infrastructure, industry, agriculture and the stimulation of investment activity.

The Turkmenistan-Uzbekistan bilateral relations have greatly intensified recently. According to the Uzbek side, the total volume of trade turnover increased up to $302 million in 2018 compared to $177 million in 2017.

In April, the two countries signed contracts and memorandums providing for joint projects worth over $250 million.

Turkmenistan and Uzbekistan, which have impressive hydrocarbon resources, favor diversification of energy flows.

The Turkmenistan-Uzbekistan-Kazakhstan-China Gas Pipeline, which was put into operation in 2009, is a good example of this.

Recently, Gurbanguly Berdimuhamedov invited businessmen of Uzbekistan to participate in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas Pipeline project. Construction of the Turkmen section of the pipeline started in December 2015.

Uzbekistan was also invited to start developing oil and gas fields on the Turkmen shelf of the Caspian Sea.

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