(nCa) - United Arab Emirates and Turkmenistan signed Monday an intergovernmental agreement for intensive cooperation, mostly in the hydrocarbon sector.
The agreement was signed after a meeting between President Niyazov and Prince Sheikh Mansur Bin Zayed Al-Nayhan, UAE minister for presidential affairs and chairman of the board of directors of the state international company for hydrocarbon investments, reports Trend.
The agreement would provide legal cover to the investments in the downstream hydrocarbon sector, oil processing and petrochemical industry in Turkmenistan.
Simultaneously, the sides agreed to establish a joint working group to study the proposals and prepare draft agreements for UAE investment in the oil and gas industry and chemical sector and Caspian blocks of Turkmenistan. The joint working group would also look at possibilities for cooperation in other sectors of economy.
The final agreements for these projects would be signed during the visit of President Niyazov to UAE. The dates of the visit would be decided through the diplomatic channels.
The visiting UAE delegation presented Arabic translation of Ruhnama volume two and the collected poetry of Niyazov.
UAE minister for power engineering, Muhammad Bin Zain Al-Hamili, and emirates envoy in Turkmenistan, Hassan Abdullah Al-Adhab, were also present during the meeting.
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