Germany may invest in Turkmenistan’s modernization projects
BAKU, Azerbaijan, July 14
By Jeila Aliyeva - Trend:
Potential for further investment by German firms in Turkmenistan could lie in the diversification of the Turkmen economy and in modernization projects, a representative of the Federal Foreign Office of Germany told Trend.
Furthermore, the German side may also invest in Turkmen sectors dealing with climate change, environment and water management, the representative added.
"There are about 50 German companies active in Turkmenistan," said the representative.
In addition, the countries implement bilateral exchange and cooperation programs in the economy.
"One of them is Manager Training Program which was initiated by German Ministries of Finance and Economy jointly with the intergovernmental working group on Economy and Trade that met in late January in Ashgabat shortly before the COVID-19 outbreak," noted the representative.
Meanwhile, the COVID-19 related travel restrictions affected the business cooperation between Turkmenistan and Germany.
"The COVID-related travel restrictions have reduced exchanges and visits between Germany and Turkmenistan and decreased business activities, as was the case worldwide," the representative said.
To date, there are no registered cases of coronavirus infection in Turkmenistan.
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