EU to Bolster Support for Turkmen Private Sector

BUSINESS TURKMENISTAN
EU to Bolster Support for Turkmen Private Sector
The EU Special Representative Peter Burian emphasized the importance of the new “EU Strategy for Central Asia”, adopted in June 2019.

A meeting was held in the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) with the EU Special Representative for Central Asia Peter Burian, the UIET said in a press release on November 21.

His political advisor Martina Schmidt and Head of EU Mission in Turkmenistan Lyubomir Frebord participated in the meeting too.

The UIET Chairman Alexandre Dadayev informed guests about the international activities of the organization, adding that, in which the great importance is attached to the development of business contacts with European partners.

The parties discussed the issues regarding trade and economic relations, preparation for the First European Union – Central Asia Economic Forum 2020, which will take place in Kyrgyzstan at the beginning of 2020. The sides noted that this forum can create mechanism for effective trade and economic cooperation between the EU and the countries of the region, including a partnership between business circles of Turkmenistan and the EU.

The participants of the meeting confirmed the availability of the favorable investment climate in Turkmenistan and paid special attention to possibilities of implementation of joint projects in various fields of economics. The parties also noted the necessity of exchange of expertise in the field of agriculture, innovative technologies, protection of ecology and renewable energy sources.

The EU Special Representative also emphasized the importance of the new “EU Strategy for Central Asia”, adopted in June 2019.

At the end of the meeting, its participants expressed hope for future progress of mutually beneficial relations of European business circles with Turkmen entrepreneurs.

European Bank for Reconstruction and Development (EBRD) program, funded by the EU, has invested €272 million in Turkmenistan through 72 projects since it began operations in the country. The Bank has also provided advisory support to more than 200 small and medium-sized enterprises across Turkmenistan.