Italian Businesses Aim to Intensify Cooperation With Turkmenistan

BUSINESS TURKMENISTAN
Italian Businesses Aim to Intensify Cooperation With Turkmenistan
At the online event, the Turkmen delegation was led by Deputy Foreign Minister of Turkmenistan Vepa Hajiyev.

A country presentation "Investments and Business Opportunities for Collaboration with Turkmenistan for Italian Companies" was held online on Wednesday. During the event, Italian businesses emphasized their intentions to further intensify multilateral cooperation with Turkmenistan.

At the online event, the Turkmen delegation was led by Deputy Foreign Minister of Turkmenistan Vepa Hajiyev, and the Italian delegation was led by Undersecretary of State for Foreign Affairs and International Cooperation of Italy Manlio Di Stefano, the Turkmen Foreign Ministry said in its press release.

The Turkmen side consisted of the Minister of Finance and Economy, the Ambassador of Turkmenistan to Italy, heads and representatives of the State Bank for Foreign Economic Affairs, Türkmengaz (Turkmen Gas) and Türkmenhimiýa (Turkmen Chemicals) State Concerns, the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) and the TAPI Pipline Company Limited.

From the Italian side, the event was attended by the Director General of the Italian Trade Agency, the Vice President of the General Confederation of Italian Industry (Confindustria) for International Affairs and the President of the Italian State Export Credit Agency (SACE). Heads and representatives of around 120 Italian companies and financial institutions also attended the presentation.

During their speeches, the sides emphasized the positive dynamics of the development of political-diplomatic, trade-economic, cultural-humanitarian relations between Turkmenistan and Italy.

The event participants outlined investments, digital technologies, the agro-industrial sector, light industry, transport and logistics, healthcare, the financial and banking system among priority areas of interaction.

The representatives of the Italian business circles underlined their intentions to further intensify multilateral cooperation, built on the principles of trust, mutual respect and mutual benefit.

Within the framework of the presentation, the parties examined in detail the financial, economic and technical instruments that SACE can offer to finance business in Turkmenistan.

The participants highlighted the importance of large export-oriented and import-substituting production lines emerging in the country, which in their development are based on local raw materials, progressive technologies that allow expanding the competitive sector of Turkmenistan's industry.

The event is as a prerequisite for the organization of the next Italy-Turkmenistan Business Forum, which will be organized under the aegis of the Ministry of Foreign Affairs and International Cooperation of Italy in autumn 2021.