Ashgabat, Turkmenistan, March 15
By Huseyn Hasanov - Trend:
Turkmenistan and the United Arab Emirates (UAE) will hold talks at an intergovernmental level March 15, Altyn Asyr TV channel reported.
Turkmen President Gurbanguly Berdimuhamedov is on an official visit to the UAE March 14-15. The agenda includes a wide range of issues of cooperation in the political, diplomatic, trade, economic and cultural spheres.
A package of documents designed to further strengthen and expand the regulatory and legal framework for interstate relations is planned to be signed following the meeting.
The UAE is one of the five trade partners of Turkmenistan and the volume of trade turnover between the two countries continues to grow, UAE ambassador Hassan Abdullah Al Adab told media in December 2017.
The diplomat said that the total volume of trade turnover amounted to $1.330 million in 2015, while in 2016 it reached $1.432 million. Moreover, $1.375 million accounted for the share of exports from the UAE to Turkmenistan.
UAE companies operate in the local energy market. Dragon Oil has been operating in the Turkmen sector of the Caspian Sea since 1999 as part of a Production Sharing Agreement (PSA). The company is one of the biggest foreign investors in Turkmenistan. Another company - Petrofac took part in implementation of a major service project for development of the Galkynysh gas field.