Turkmenistan, Russia interested in investment co-op

Ashgabat, Turkmenistan, Aug. 14

By Huseyn Hasanov – Trend:

Turkmenistan and Russia have named the investment cooperation among the main spheres of mutual interests, Trend reports referring to the Turkmen government.

This topic was discussed at a meeting between President of Turkmenistan Gurbanguly Berdimuhamedov and Russian Prime Minister Dmitry Medvedev. The willingness of intensifying partnership taking into account the agreements reached within the recent Caspian Economic Forum in Turkmenistan’s Avaza tourist zone was confirmed at the meeting.

The fuel and energy complex, shipbuilding, automotive industry, sea shipping in the Caspian Sea, agriculture, including the supply of food products to the Russian market were named as the priority vectors of interaction.

The efficiency of several meetings of representatives of the competent bodies on the economy and transport of the Caspian countries, including Turkmenistan and Russia, as well as the first meeting of the Turkmen-Astrakhan Council on Entrepreneurship, was stressed during the talks.

The active work of the intergovernmental Turkmen-Russian commission and national business councils contributes to the expansion of mutual import-export operations and the interregional contacts.

"The effective work of leading Russian companies in Turkmenistan can be cited as an effective example of successful partnership," the Turkmen Dovlet Habarlary state news agency said.

While discussing the issues on the international agenda, the sides paid attention to the aspects of cooperation in the field of ensuring global security of energy supplies, optimizing transport flows in the Eurasian space and solving environmental problems.

About 190 companies with Russian capital operate in Turkmenistan.

ARETI holding (formerly Itera) has been operating in Turkmenistan since 2009 on the basis of a production sharing agreement on the Turkmen sector of the Caspian Sea.

In 2019, Russia's Gazprom resumed purchases of Turkmen gas after a three-year break. Furthermore, Russia and Turkmenistan are initiating cooperation in the Caspian Sea. In particular, a ferry service across the sea, which will connect Russia’s Makhachkala with the port of Turkmenbashi, is planned to be launched.

The two countries are also exploring joint projects, activities of the Russian companies in Turkmenistan, as well as prospects for cooperation in the industrial, construction, transport, oil and gas, gas chemical and power industries.

Cooperation issues in such important areas as the agro-industrial complex and the supply of agricultural equipment, construction, interaction among business structures and introduction of advanced technologies are also on the agenda of the meeting.

In recent years, Turkmenistan has been actively developing business relations with the subjects of Russia, including Tatarstan Republic, Sverdlovsk and Astrakhan regions and the city of St. Petersburg.

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