Turkmenistan, Russia aim at effective co-op in Caspian Sea
Ashgabat, Turkmenistan, Oct. 11
By Huseyn Hasanov – Trend:
Turkmen President Gurbanguly Berdimuhamedov met with Russian President Vladimir Putin in Ashgabat city Oct. 11, Trend reports referring to the Turkmenistan State news Agency.
Turkmenistan and Russia are aimed at continuing effective cooperation in the Caspian Sea which has substantial potential, the report said.
In this aspect, the importance and effectiveness of the first Caspian Economic Forum held in Awaza resort town in August, which became an open platform for discussing priority issues of regional and interregional partnership, were stressed.
The heads of state also noted the high level and strategic nature of the interstate partnership.
The solid regulatory framework for cooperation, which is systematically replenished, shows that Turkmenistan and Russia are aimed at further long-term cooperation, the report said.
It was noted that there is multifaceted potential for joint efforts in the trade and economic sphere, building up productive contacts in various industries and through business structures for stimulating investment activity. A significant role in this is given to the activity of the intergovernmental commission, joint business councils and business forums.
The parties also exchanged views on a number of topical issues of the regional and global agenda, the report said.
About 190 companies with Russian capital operate in Turkmenistan.
ARETI holding (formerly Itera) has been operating in Turkmenistan since 2009 through a production sharing agreement in the Turkmen sector of the Caspian Sea.
In 2019, Russia’s Gazprom resumed purchases of Turkmen gas after a three-year hiatus. Furthermore, Russia and Turkmenistan are initiating cooperation in the Caspian Sea. In particular, the launch of a ferry service across the sea to connect Russia’s Makhachkala city with the Turkmenbashi port, is planned.
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.
Recently, Turkmenistan has also been actively developing business relations with various Russian subjects, including the Tatarstan Republic, the Sverdlovsk and Astrakhan regions, and St. Petersburg city.