Turkmen, Japanese Financial Institutions Discuss Cooperation in Investment Sphere

BUSINESS TURKMENISTAN
Turkmen, Japanese Financial Institutions Discuss Cooperation in Investment Sphere
State Bank for Foreign Economic Affairs of Turkmenistan

A video conference meeting was held at the State Bank for Foreign Economic Affairs of Turkmenistan on Monday with the representatives of the Nippon Export and Investment Insurance (NEXI), Japan's governmental export credit agency.

The meeting participants exchanged views on the implementation of existing agreements in the field of financial and investment cooperation and on the future prospects in this area.

Among the relevant areas of cooperation between business representatives of the two countries are the chemical industry, the oil and gas refining industry, the electric power industry, the transport and communications sector, the introduction of advanced technologies, agriculture and other industries where joint efforts seems to be the most effective.

In this regard, the sides noted the successful experience of Turkmenistan and Japan in implementing joint infrastructure projects, in which NEXI provided the insurance services.

Loan agreements between the Turkmen State Bank for Foreign Economic Affairs and the Japan Bank for International Cooperation (JBIC), signed in recent years with the aim of financing the construction of high-tech facilities in the oil and gas complex, electric power generation and chemical industries, can be cited as an example of such cooperation.

To date, Türkmenhimiýa (Turkmen Chemicals) and Türkmengaz (Turkmen Gas) state concerns have implemented five projects totaling $3.63 billion with the participation of NEXI. By order of the Ministry of Energy of Turkmenistan, Japanese companies are presently building a gas turbine power plant with a capacity of 432 megawatts in the Lebap velayat.