Turkmenistan interested in WB consultations in digital economy

Business Materials 4 May 2019 15:45 (UTC +04:00)

Ashgabat, Turkmenistan, May 4

By Huseyn Hasanov– Trend:

A meeting with representatives of the World Bank (WB) was held at the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), Trend reports May 4 with reference to the UIET.

The discussion included promising areas of cooperation in projects in the field of the digital economy, as well as the use of WB expert experience in improving the banking system and achieving international financial standards, the report said.

It was earlier reported that Lilia Burunciuc, WB Regional Director for Central Asia, held talks in Ashgabat. The WB proposed to expand cooperation in the areas of the digital economy, logistics, energy, water resources and hydrometeorology. The bank declared its readiness to consider proposals for the implementation of projects in the fields of transport, healthcare and education.

Expert advice from the WB on improving the banking system of Turkmenistan and achieving international financial standards in the country were also proposed.

According to a report by British Petroleum (BP), Turkmenistan ranks fourth in the world in terms of natural gas reserves and currently exports it to China and Iran.

The official exchange rate of the Turkmenistan manat to dollar from January 2015 remains at the level of 3.50 Turkmen manats.

The country set a course for diversifying the local economy. The oil, gas, chemical, and building material industries are actively developing.