Turkmenistan, Singapore ink series of economic agreements
Ashgabat, Turkmenistan, Aug. 26
By Huseyn Hasanov– Trend:
A ceremony of signing bilateral documents has been held during the Turkmen-Singapore business forum in Singapore, Trend reports citing the Turkmen government.
The event is timed to the visit of President of Turkmenistan Gurbanguly Berdimuhamedov to this country on August 26-27.
Cooperation agreements between the State Bank for Foreign Economic Affairs of Turkmenistan and the Association of Banks in Singapore and the Development Bank of Singapore (DBS Bank Ltd) were signed. Memorandums of understanding between the State Concern “Turkmenhimiya” and the Ministry of Textile Industry were concluded with Indorama Corporation Pte Ltd.
A memorandum of understanding was signed between the Chamber of Commerce and Industry of Turkmenistan and the Singapore Business Federation. A memorandum of understanding was also concluded between the Turkmen State Institute of Economics and Management and the Management Development Institute of Singapore.
A similar document on cooperation in the field of transport and logistics was signed by the Ministry of Industry and Communication of Turkmenistan and Singapore’s Pacific International Lines Pte. Ltd. Under the auspices of the Union of Industrialists and Entrepreneurs of Turkmenistan, two memorandums of understanding were signed with Vallianz Holdings and Sun Connect Pte. Ltd.
The business forum held at the Shangri-La Hotel was attended by over forty major Singaporean companies. The range of their specialization included production of equipment for the oil and gas, chemical, energy, agricultural and food industries, construction industry, shipbuilding, transport and communications, trade, banking, software development, and engineering.
“Chairman of the Singapore Business Federation Teo Siong Seng noted in his speech that the forum presents good opportunities for exploring the prospects for cooperation and investment interaction,” the Turkmenistan State News Agency reported. “Priority areas such as the oil and gas industry, energy, chemistry, construction, transport and logistics, and agriculture were considered.”