Turkmenistan, UK discuss prospects for trade and economic cooperation
Ashgabat, Turkmenistan, Aug. 20
By Huseyn Hasanov – Trend:
A meeting with Ambassador of UK to Turkmenistan Thorhilda Abbott-Watt was held at the Ministry of Foreign Affairs of Turkmenistan, Trend reports referring to the ministry.
Diplomats discussed a number of topical matters, including opportunities for further development of political, diplomatic, trade, economic and cultural interaction between the countries.
The parties noted the friendly nature of Turkmen-British relations, the information says. It was reported earlier that the issue of holding an investment forum of Turkmenistan in the UK is being discussed.
UK’s companies hold important positions in the Turkmen market. Dragon Oil has been operating in the Turkmen sector of the Caspian since 1999 and it is one of the biggest foreign investors.
Petrofac implemented a service project to develop Galkynysh gas field in the Mary region in September 2013. Galkynysh gas field is the second biggest field in the world.
Gaffney, Cline & Associates is actively involved by Ashgabat in conducting an independent audit of gas fields. Turkmenistan ranks fourth in the world in terms of gas reserves.
Moreover, the history of the national currency, the Turkmen manat, is connected with the De La Rue company.
Earlier, the two countries signed an intergovernmental convention on the elimination of double taxation and the prevention of fiscal evasion with respect to taxes on income.
The common interests in such key areas of cooperation as investments, energy and transport have been stressed during negotiations between the representatives of the two countries.
Joint business forums are attended by representatives of the UK companies such as British Expertise International, Aggreko, Arempa International Ltd (FZE), Buried Hill, De La Rue, Global ATS Ltd, Industrial Power Group, JTA, Rapiscan Systems Ltd, Tensar and TheCityUK.