Turkmen President to Visit Singapore

Turkmen President to Visit Singapore
Singapore is a highly developed country with a market economy and low taxation rate.

At a session of the Cabinet of Ministers of Turkmenistan on August 16, Deputy Prime Minister, Head of the Ministry of Foreign Affairs of Turkmenistan (MFA) Rashid Meredov informed the Head of State about the preparations for the planned state visit of the government delegation of Turkmenistan, headed by President Gurbanguly Berdimuhamedov to the Republic of Singapore, scheduled for late August.

In this regard, the Deputy Prime Minister was given specific instructions on ensuring a high organizational level of the upcoming state visit to the Republic of Singapore, which is aimed to give an additional impetus to effective cooperation in various fields.

The Republic of Singapore is an island city-state in Southeast Asia. Singapore's territory consists of one main island along with 62 other islets and covers an area of 724.2 km² (2018). Since independence, extensive land reclamation has increased its total size by 23% (130 square kilometres). The city-state is home to 5.8 million (2019) residents, 39% of whom are foreign nationals. It maintains diplomatic relations with 186 countries of the world.

Singapore is a highly developed country with a market economy and low taxation rate, in which transnational corporations play an important role. Gross national product (GNP) per capita is one of the highest in the world (US$ 85,000 in 2015). Singapore took 2nd place in the WEF competitiveness rating in 2018 (5th place out of 134 countries in 2008).

Its exports are at US$ 235.8 billion and include products from the electronic and electrical industries, consumer goods, natural rubber products, and petroleum products.

Singapore's main imports are aircraft, crude oil and petroleum products, electronic components, radio and television receivers/parts, motor vehicles, chemicals, food/beverages, iron/steel, and textile yarns/fabrics and it totals US$ 219.5 billion.