ABU DHABI, 22nd November, 2022 (WAM) — As part of his participation in the UAE-Turkmenistan Business Forum, Serdar Berdimuhamedov, President of Turkmenistan, hailed the economic ties between Turkmenistan and the United Arab Emirates.
President Berdimuhamedov highlighted his country’s focus on exploring opportunities for economic cooperation in different industries, including energy, trade and green energy. He underlined Turkmenistan’s interest in increasing trade with the UAE, given its strategic location, outstanding relations with different countries around the world and skilled labor force.
The Abu Dhabi Chamber of Commerce and Industry, in cooperation with the Ministry of Foreign Affairs and International Cooperation, the Embassy of Turkmenistan and the Abu Dhabi Department of Economic Development (ADDED), organized the Forum of UAE-Turkmenistan affairs. The Forum, held in Abu Dhabi, discussed opportunities for new economic partnerships for the business communities of the two countries.
The Forum covered key topics including increasing trade, attracting investment and exploring new opportunities for collaboration. The various parties also discussed major opportunities and trends, as well as the active and thriving business environments of the two countries that attract foreign direct investment.
The Forum was held in the presence of President Berdimuhamedov; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Raşit Meredow, Deputy Prime Minister and Foreign Minister of Turkmenistan; Abdullah Mohammed Al Mazrouei, President of the United Arab Emirates Chambers and President of the Abu Dhabi Chamber; Hamid Mohammed bin Salem, Secretary General of the United Arab Emirates Chambers; Mohamed Helal Al Mheiri, General Manager of the Abu Dhabi Chamber; Dovletgeldy Rejepov, President of the Chamber of Commerce and Industry of Turkmenistan, as well as senior officials and representatives of the private sector.
Dr. Al Zeyoudi said, “Our meeting reflects the emphasis placed by the leaders of the United Arab Emirates and Turkmenistan on consolidating bilateral relations between the two countries and expanding areas of cooperation. Our business communities are eager to explore promising opportunities that increase mutual trade and investment, and to launch joint projects and initiatives. The wide range of opportunities in the two countries opens new horizons for economic ties and creates new opportunities for joint growth and prosperity.
He added: “Economic cooperation between the UAE and Turkmenistan covers a wide range of areas. Today, we have a comprehensive cooperation plan that we are working to strengthen with our partners in the Turkmen government and the private sector. We look forward to raising the level of bilateral economic partnership in areas of mutual interest and expanding areas of cooperation between the two countries, facilitating trade and investment, and overcoming any potential obstacles.
Al Mazrouei said, “The UAE and Turkmenistan enjoy strong and robust economic relations. Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, our country is on the verge of building stronger and stronger relations with Turkmenistan at all levels, especially the economic sector, which is expanding exponentially and promises great potential and many opportunities.
“The UAE is a major trading partner of Turkmenistan, with bilateral non-oil trade reaching US$255.3 million in 2021. This figure is expected to increase given the willingness of both countries to explore more elements of development, expansion and promising opportunities in all sectors, especially that Turkmenistan is located in a strategic geographical position in Central Asia with promising markets that allow UAE investors to explore business opportunities. key investment.
“We at UAE Chambers are determined to further expand our relationship with Turkmenistan, therefore I call on Emirati businessmen and investors to explore all available investment opportunities in Turkmenistan and focus on competitive sectors, which would increase the flow of investment in both countries,” he said.
“The UAE is a gateway to markets in the region with an exceptional geographical location that connects East to West. Its flexible and diversified economy offers many benefits and incentives that attract foreign investment. These include full ownership by foreign investors of their businesses in several sectors as well as the visa and residency program for investors as well as many features that make the UAE an attractive destination for international business. »
“We must have a common roadmap, form joint advisory committees, activate the UAE-Turkmenistan Business Council and increase its role in promoting business opportunities, and increase our cooperation for more growth and development,” he said. he added.
The forum witnessed the signing of a number of agreements aimed at enhancing cooperation between the UAE and Turkmenistan in a number of vital sectors. These include a non-disclosure agreement between the Transport and Communications Agency under the Cabinet of Ministers of Turkmenistan and Abu Dhabi Ports Company PJSC; a joint development agreement between Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan and Abu Dhabi Future Energy Company PJSC – Masdar; and a cooperation agreement between the State Foreign Economic Bank of Turkmenistan and First Abu Dhabi Bank.
During the Forum, a number of officials from both countries made presentations on the most important investment opportunities and reviewed the economic landscape of the two countries.