Turkmenistan to Deepen Cooperation With EBRD

BUSINESS TURKMENISTAN
Turkmenistan to Deepen Cooperation With EBRD
In order to intensify cooperation, representatives of the Turkmen side proposed to develop an Action Plan or Road Map of the EBRD in Turkmenistan.

Foreign Ministry of Turkmenistan on Thursday hosted online discussions with the head of the European Bank for Reconstruction and Development (EBRD) Representative Office in Ashgabat Fatih Turkmenoglu. The meeting mainly focused on prospects for the further development of long-term cooperation between Turkmenistan and the EBRD.

According to Turkmenistan’s Golden Age’s news outlet’s Wednesday report, the heads of the Ministry of Economy and Finance of Turkmenistan, the Turkmen Central Bank and the State Bank for Foreign Economic Affairs of Turkmenistan (Turkmenvnesheconombank) also attended the meeting.

In order to intensify cooperation, representatives of the Turkmen side proposed to develop an Action Plan or Road Map of the EBRD in Turkmenistan, which will outline areas of cooperation and expected results.

In turn, the Head of the EBRD Representative Office Fatih Turkmenoglu also expressed satisfaction with state of cooperation with representatives of the non-governmental sector of the economy of Turkmenistan, which resulted in the financing of a number of small and medium business projects. Turkmenoglu stressed that the EBRD will continue to work with the members of the Union of Industrialists and Entrepreneurs of Turkmenistan, promoting business development through financial and advisory services.

According to the report, Turkmen entrepreneurs are actively involved in the creation of import-substituting industries. At the same time, the small and medium-sized businesses in the country focus on increasing the export of ecologically clean agricultural products, consumer goods based on local resources, a wide range of light industry products, and various types of services.

In this regard, the meeting participants confirmed their readiness to develop new areas of cooperation, built on the principles of trust and mutual benefit.