Ashgabat and Brussels put the accent on economic cooperation

Ashgabat and Brussels put the accent on economic cooperation

Turkmenistan and the European Union held the 18th regular meeting of the Joint Committee on 26 February 2019 in Brussels, where the progress made in terms of trade, economic development and investment cooperation was reviewed.

Turkmenistan provided an update on domestic energy developments. The sides assessed the potential for Turkmen gas deliveries to the EU. Updates were also provided on transport development matters. Water, environmental and climate change issues, in particular in relation to the Aral Sea, were discussed as well, press release at European External Action Service official website informs.

The Turkmen side provided information on the issue that the country is reoriented on deeper processing oil and gas. This serious step can contribute to the revision of cooperation strategy between the parties in the fuel and energy; in particular, it would increase the EU investments in the processing of Turkmen hydrocarbons.

Discussing the new EU Strategy on Central Asia, Turkmenistan assessed the potential of the EU countries as partners to develop renewable energy sources in the region. European countries have valuable expertise experience on such projects and can contribute to their effective implementation in Central Asia. The EU informed Turkmenistan about a conference on renewable energy in Central Asia, scheduled for 12April 2019 in Brussels.

The Turkmen side noted that the standards approach of economic activity between Turkmenistan and the EU in another promising area to strengthen cooperation. The integration of economic standards developed by European countries into the financial practices of the state would increase the interaction between Ashgabat and Brussels.

The meeting also assessed the progress of implementation of joint economic projects, for example, aimed at rational use of natural resources, economic development support in Turkmenistan, including the private sector, etc.

Each of these projects contributed to the introduction of international standards and regulations, advanced technologies and software in Turkmenistan, and improving the efficiency of the economy as a whole.

The meeting was chaired by Luc Devigne, Director for Russia, Eastern Partnership, Central Asia, Regional Cooperation and OSCE countries of the European External Action Service, as the head of the EU delegation. The delegation of Turkmenistan was led by Batyr Bazarov, Minister of Finance and Economy of Turkmenistan.