Turkmenistan and the UAE signed documents in the field of investment and energy

Talks between President of Turkmenistan Gurbanguly Berdimuhamedov and Deputy Prime Minister and Minister for Presidential Affairs of the United Arab Emirates (UAE) Sheikh Mansour bin Zayed Al Nahyan were held on Saturday at the Expo 2020 Reception Center in Dubai. They took part in the ceremony of signing several agreements and Memorandums of Understanding between the two countries in the field of economics, investment, logistics and energy.

According to the official Turkmen media, during the meeting, the parties discussed the current state and prospects of interstate cooperation, specified its priority areas, taking into account modern realities and spoke in favor of actively building up mutually beneficial trade and economic cooperation, stimulating close business, humanitarian and scientific ties.

In particular, special attention was paid to specific steps to implement projects in the gas chemical, financial and transport sectors, planned to be implemented in Turkmenistan with the participation of the Emirates side, as well as in the trade, economic and investment spheres.

As part of the negotiations, a number of bilateral documents were signed. These include a Memorandum of Understanding between the International Seaport of Turkmenbashi (Turkmenistan) and DP World FZE (UAE) for port management and logistics services, as well as a Memorandum of Understanding between the State Electricity Corporation Türkmenenergo of the Ministry of Energy of Turkmenistan and Abu Dhabi Future Energy Company PJSC – Masdar “.

In addition, the State Bank for Foreign Economic Affairs of Turkmenistan and the Abu Dhabi Development Fund signed an Agreement on the establishment of a closed joint stock company “Türkmen maýa goýum kompaniýasy”.

Also, a loan agreement was signed between the Government of Turkmenistan and the Abu Dhabi Development Fund to finance the construction of a chemical plant for the production of mixed mineral fertilizers in the city of Turkmenabat of Turkmenistan.

A Memorandum of Understanding was also signed between the State Bank for Foreign Economic Affairs of Turkmenistan and the Department of Economic Development of the Government of Dubai and a Memorandum of Understanding between the Government of Turkmenistan and Nasdag Dubai Limited.

During his working visit to the UAE, President Gurbanguly Berdimuhamedov also took part in the opening ceremony of the National Day of Turkmenistan at the EXPO 2020 World Exhibition in Dubai.

Source: business.com.tm