On June 25, the Chamber of Commerce and Industry hosted the “Turkmenistan–United Arab Emirates” business forum, which brought together managers and leading specialists of government and business structures of the two friendly countries.

The event was attended by companies specializing in the fields of energy, digital technologies, trade, agriculture, food industry, construction and tourism, including HK Associates, AMEA Power, Arabian Falcon Holding, ADIO, etc. .

As is known, at a meeting of the Cabinet of Ministers held on June 21, President Serdar Berdimuhamedov stated with satisfaction that trade and economic cooperation between Turkmenistan and foreign countries is constantly developing, exhibitions and business forums held in this direction contribute to the expansion of mutually beneficial cooperation.

In this regard, the current event is aimed at further development of trade, economic, investment and business relations between Turkmenistan and the United Arab Emirates in the context of the “open door” policy successfully pursued by the President of Turkmenistan.

The agenda of the forum includes a discussion of promising areas of interstate cooperation in the economic, investment, industrial sectors, as well as in the field of renewable energy sources.

It should be noted that at present, the development of multifaceted relations with the United Arab Emirates, recognized as one of the economically powerful and rapidly developing states in the Middle East, is among the priority areas of the foreign policy strategy of independent neutral Turkmenistan.

This is clearly evidenced by the extensive positive experience of interaction accumulated in recent years on a bilateral and multilateral basis, primarily on the platform of the largest and most authoritative international organizations. The Joint Committee for Cooperation between Turkmenistan and the United Arab Emirates, as well as the Business Council for Cooperation between the Chamber of Commerce and Industry of Turkmenistan and the Federation of Chambers of Commerce and Industry of the UAE are helping to build up business ties.

The speakers emphasized that our country, which is implementing a strategy of economic diversification, including through the active attraction of the best world experience and advanced technologies, is open to constructive dialogue. The favorable investment climate created in the country and the optimal organizational and legal mechanism for doing business help attract an increasing number of potential foreign partners, in particular the UAE business community, to work in the promising Turkmen market.

As noted, the main areas of partnership include joint projects that can become the driving force of economic cooperation and open up new opportunities for attracting investments, creating mixed production, forming a modern infrastructure system, and increasing interaction in the banking and financial sector.

The speeches of the heads of leading UAE companies confirmed the desire of large Emirati businesses to strengthen and expand their presence in the Turkmen market.

During the business meeting, which took place in an open, trusting atmosphere, ways to bring relations to a new level in various areas of the economy and investment, in the field of high technology, opportunities to increase trade turnover were analyzed, and specific plans for joint work were outlined.

The transport and logistics system is named one of the most promising areas of cooperation. The modern infrastructure created in recent years in the country, including the Turkmenbashi International Seaport, new highways, and airports, open up wide opportunities for developing contacts in this area. It was emphasized that large-scale projects in the field of transport are being developed in our country and there are great prospects for developing relations with foreign partners, including well-known UAE companies.

Our country’s readiness to significantly expand mutually beneficial ties in the fuel and energy sector was also noted. Having impressive potential in this area, Turkmenistan is one of the exporters of natural gas. The gas chemical industry is also developing, a wide range of products being supplied to the world market.

A separate topic of discussion was the rational use of renewable energy sources. Being a country with huge reserves of oil and gas resources, Turkmenistan strives to develop “green” energy. In this context, interaction in the field of practical use of environmentally friendly renewable energy sources, in particular solar and wind, also seems relevant.

Other relevant vectors of partnership include agriculture, communications, processing and chemical industries, introduction of advanced technologies, construction, healthcare, ecology, etc. The UAE business community expressed high interest in participating in the project.