Turkmen, Russian presidents mull prospects for trade & economic co-op

Business Materials 18 June 2019 18:20 (UTC +04:00)
Turkmen, Russian presidents mull prospects for trade & economic co-op

Ashgabat, Turkmenistan, June 18

By Huseyn Hasanov– Trend:

The presidents of Russia and Turkmenistan Vladimir Putin and Gurbanguly Berdimuhamedov discussed issues of further development of trade and economic cooperation over the phone, Trend reports with reference to the Russian presidential press service.

During the phone conversation held at the initiative of the Turkmen side, issues related to the further development of trade and economic cooperation and interregional ties were discussed, in particular in connection with the President of Turkmenistan’s upcoming visit to Tatarstan.

"Both leaders reaffirmed their intention to further promote the Russian-Turkmen strategic partnership," says the report.

The Turkmen president also informed Vladimir Putin about preparations for the first meeting of the Caspian Economic Forum scheduled to take place in Turkmenbashi this August.

About 190 companies with Russian capital operate in Turkmenistan. The ARETI International Group (formerly Itera Group) has been operating in the Turkmen sector of the Caspian Sea on the basis of the signed production sharing agreement (PSA) since 2009. In 2019, after a three-year break, Russia's Gazprom resumed purchases of Turkmen gas.

Moreover, Russia and Turkmenistan are initiating cooperation in the Caspian region. In particular, it is being planned to launch a freight line across the sea, which will connect Russia’s Makhachkala with the Turkmen port of Turkmenbashi.

The 11th meeting of the Intergovernmental Turkmen-Russian Commission for Economic Cooperation was held in Ashgabat on May 8.

The parties considered joint projects, issues of the activities of Russian companies in Turkmenistan, as well as prospects for cooperation in the industrial, construction, transport, oil and gas, gas chemical and electric power industries. The agenda also included cooperation issues in such important areas as the agro-industrial complex and the supply of agricultural equipment, construction, interaction among business structures and the introduction of advanced technologies.

Turkmenistan has been recently actively developing business relations with the subjects of Russia, including the Republic of Tatarstan, the Sverdlovsk region and the federal city of St. Petersburg.