Turkmenistan, UAE Ink Documents in Investment, Logistics, Energy Sectors

President of Turkmenistan Gurbanguly Berdimuhamedov held talks with the Deputy Prime Minister and Minister of Presidential Affairs of the UAE Sheikh Mansour bin Zayed Al Nahyan at the headquarters of the Expo 2020 Dubai on Saturday. They attended a signing ceremony of several agreements and Memoranda of Understanding (MoUs) between the two countries in the economic, investment, logistics and energy sectors.

During the meeting, the sides discussed the current state and prospects of interstate cooperation, concretized its priority areas, taking into account modern realities and spoke in favor of actively building up mutually beneficial trade-economic cooperation, stimulating close business, humanitarian and scientific ties, the official media reports.

Special attention was paid to specific steps to implement projects in the gas chemical, financial and transport sectors, expected to be carried out in Turkmenistan with the participation of the Emirate side, as well as in the trade-economic and investment spheres.

The documents signed between the two countries included the MoU in the port operations and logistics fields between Turkmenistan's Turkmenbashi International Seaport and DP World and the MoU between Türkmenenergo Corporation of the Ministry of Energy of Turkmenistan and Abu Dhabi Future Energy Company (Masdar).

The State Bank for Foreign Economic Affairs of Turkmenistan and the Ab Abu Dhabi Fund for Development (ADFD) signed an agreement on the establishment of the Türkmen maýa goýum kompaniýasy CJSC, the investment company in Turkmenistan.

The ADFD also signed a loan agreement with the government of Turkmenistan to finance the construction of a chemical plant for the production of mineral fertilizers in Turkmenabat city of Turkmenistan.

The MoU between the State Bank for Foreign Economic Affairs of Turkmenistan and the Department of Economic Development, Dubai (DED), and the MoU between the Turkmen government and the Nasdaq Dubai Limited company are also among the signed documents.

During his visit to the UAE, President Gurbanguly Berdimuhamedov participated in the opening ceremony of the National Day of Turkmenistan at the World Expo 2020 in Dubai.

(Photo: Emirates News Agency)