22 Nov 2022 15:29

Turkmenistan, UAE discuss fuel and energy, transport and financial sector cooperation

ASHGABAT. Nov 22 (Interfax) - Turkmenistan and the United Arab Emirates plan to set up a joint bank and to develop cooperation in fuel and energy and transport, the Turkmenistan State News Agency said.

The proposals were aired at a meeting between Turkmen President Serdar Berdimuhamedov and UAE President Sheikh Mohammed bin Zayed al-Nahyan during the Turkmen leader's visit to the UAE on November 21-22.

Describing the Turkmen market as promising, the UAE leader said that assessment assumed the availability of all conditions for business in the country, primarily a favorable investment climate and sustained economic growth. In this regard, a proposal was made to create a joint bank and open its representative office in both countries.

Berdimuhamedov backed the initiative, saying all opportunities for this would be created in Turkmenistan.

The UAE president said his country was keen to collaborate with Turkmenistan, which he sees as a reliable and promising partner with huge resource and economic potential. He said he was confident that Berdimuhamedov's first official visit to the UAE and the documents signed during it would open a new page in the history of relations between the two states.

The two stressed the importance of intensifying trade and economic ties. They discussed interaction in a number of promising areas, including fuel and energy, oil refining, gas-to-chemicals and transport.

Berdimuhamedov said Turkmenistan's fuel and energy potential and favorable geographical location at the crossroads of transport and communication routes were of great importance for stepping up cooperation with the UAE.

"Our country has all opportunities to cooperate with the leading oil and gas companies of the Emirates," he said.

The UAE president said UAE businesses were ready to broaden partnership with Turkmenistan.

Touching on interaction in the investment field and mentioning that investment and raising loans for gas-to-chemicals, transport, logistics and financial projects were being discussed during meetings with representatives of the Abu Dhabi Development Fund, Berdimuhamedov focused on the need to intensify this dialog.

The parties two also noted the importance of ramping up partnership in the transport sector, in particular, in maritime, rail and air transport. In this context, the Turkmen leader emphasized the relevance of establishing contacts with the international port of Abu Dhabi.

They said it was vital to give new impetus to the activity of the Joint Committee on Cooperation between Turkmenistan and the UAE, and expedient to hold regular meetings between representatives of the business communities of the two countries.

Berdimuhamedov invited Mohammed bin Zayed al-Nahyan to visit Ashgabat.