Bahrain hopes for development of co-op with Turkmenistan

Business Materials 1 May 2019 13:51 (UTC +04:00)

Ashgabat, Turkmenistan, May 1

By Huseyn Hasanov – Trend:

In a message to Turkmen President Gurbanguly Berdimuhamedov, King of Bahrain Hamad bin Isa bin Salman Al Khalifa expressed confidence in the development of cooperation between the two countries in a wide range of spheres, Trend reports referring to a letter published in the Turkmen media.

The King of Bahrain paid a state visit to Turkmenistan in March.

“I express my deep gratitude for the hospitality rendered during my recent visit to your beautiful country and appreciate the successful negotiations,” the message said. “I am confident that the recent meeting will contribute to the development of bilateral cooperation in a wide range of spheres and will help the successful implementation of the reached agreements.”

The diplomatic relations between the two countries were established in December 1995. The sides discuss joint projects in the investment, banking, oil and gas and chemical industries.

Bahrain’s financial-industrial groups were offered to begin to create joint ventures in leading industries based on mutual investments. Bahrain’s companies were invited to participate in the project for the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI), the construction of which began in 2015.

Moreover, the sides concluded intergovernmental memorandums of understanding on cooperation in the field of transport, e-government, as well as memorandums between the Central Banks of the two countries.

Among the Arab countries, the United Arab Emirates actively operate in the Turkmen market especially in the fuel and energy sector.

Dragon Oil company extracts hydrocarbons in the Turkmen sector of the Caspian Sea. Petrofac, leading international service provider to the oil and gas production and processing industry, took part in the industrial development of Galkynysh, the second biggest gas field in the world. Saudi Arabia has also intensified its activity in Turkmenistan.