Turkmenistan, UAE to increase trade turnover

Business Materials 20 August 2020 10:32 (UTC +04:00)
Turkmenistan, UAE to increase trade turnover

BAKU, Azerbaijan, August 20

By Jeila Aliyeva - Trend:

Turkmenistan and the United Arab Emirates (the UAE) will increase trade turnover between the two countries, Trend reports with reference to the Ministry of Foreign Affairs of Turkmenistan.

The corresponding decision was made during a meeting of representatives of the Chambers of Commerce and Industry of Turkmenistan and the UAE on August 19, 2020.

The parties considered issues of exporting Turkmen textiles, carpets, and food products to the UAE.

The sides also agreed to organize business forums and online meetings of representatives of countries' private sectors.

Furthermore, the participants discussed the prospects for developing bilateral partnership in the trade and economic sector.

The high level of bilateral cooperation in the political, diplomatic, trade, economic, cultural and humanitarian fields was also noted and the need to strengthen cooperation in the energy, transport and environmental spheres, as well as in the chemical industry, was underlined.

The UAE companies are actively operating in the Turkmen energy market.

As reported, earlier, the UAE's Petrofac oil and gas company expressed its readiness to continue cooperation with Turkmenistan in the development of the Galkynysh gas field.

Galkynysh field, with a total area of more than 4,000 square kilometers, includes more than 40 wells, the production rate of each reaches on average 2 million cubic meters of gas per day.

Hyundai, LG (Republic of South Korea), CNPC (China), Petrofac, Gulf Oil & Gas International Fze (UAE) were involved in the development of Galkynysh field at different stages.

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