WB, Turkmenistan mull opportunities for co-op diversification

Oil&Gas Materials 6 March 2019 15:19 (UTC +04:00)

Ashgabat, Turkmenistan, March 6

By Huseyn Hasanov – Trend:

Turkmen officials met with WB Regional Director for the Central Asia Lilia Burunciuc and WB Country Manager for Turkmenistan Jan-Peter Olters in the Turkmen Foreign Ministry, Trend reports referring to the Turkmen Foreign Ministry.

The sides discussed the possibilities of diversifying cooperation. WB representatives proposed to expand cooperation in digital economy, logistics, energy, water resources and hydrometeorology.

Moreover, the sides stressed readiness to consider the proposals for the implementation of the projects in the fields of transport, healthcare and education.

WB’s expert advice on improving the Turkmen banking system and achieving international financial standards in the country was also proposed.

The sides also discussed the WB assistance in the activity of the International Fund for Saving the Aral Sea (IFAS), in which Turkmenistan presides this year.

WB representatives stressed interest in development of cooperation at the regional level and appreciated Turkmenistan’s assistance projects to neighboring Afghanistan.

According to a report by British Petroleum (BP), Turkmenistan ranks fourth in the world in terms of natural gas reserves and currently exports it to China and Iran.

The country set a course for diversifying the local economy. The oil, gas, chemical, and building material industries are actively developing.