Turkmenistan prepares for business negotiations with Bahrain
Ashgabat, Turkmenistan, July 22
By Huseyn Hasanov – Trend:
Turkmenistan has approved the country membership in the joint intergovernmental committee on economic, trade, and scientific and technical cooperation formed with Bahrain, Trend reports referring to the decree of the President of Turkmenistan.
The document was adopted in order to further develop cooperation between Turkmenistan and the Kingdom of Bahrain.
King of Bahrain Hamad bin Isa Al Khalifa, visited Turkmenistan on a state visit in March this year. Diplomatic relations between the two countries were established in December 1995.
At present, the sides discuss joint projects in the investment, banking, oil and gas and chemical industries. Bahrain’s financial-industrial groups were offered to begin to create joint ventures in leading industries based on mutual investments. Bahrain’s companies were invited to participate in the project for the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI), the construction of which began in 2015.
Moreover, the sides concluded intergovernmental memorandums of understanding on cooperation in the field of transport, e-government, as well as memorandums between the Central Banks of the two countries.
Among the Arab countries, the UAE is more actively operating in the Turkmen market especially in the fuel and energy sector. Dragon Oil company extracts hydrocarbons in the Turkmen sector of the Caspian Sea. Petrofac, leading international service provider to the oil and gas production and processing industry, took part in the industrial development of Galkynysh, the second biggest gas field in the world. Saudi Arabia has also intensified its activity in Turkmenistan.