President of Turkmenistan Serdar Berdimuhamedov highly appreciated the level and potential of economic relations with the UAE, speaking at a bilateral business forum in Abu Dhabi on Tuesday.

"Today there are all opportunities to bring relations between Turkmenistan and the UAE to a new level," the Turkmen leader said. He singled out the fuel and energy sector among the most relevant areas of cooperation, noting the activities of Dragon Oil and inviting other UAE companies to participate in Turkmenistan's oil and gas projects, including the gas chemical industry.

The Head of Turkmenistan also spoke in favor of increasing cooperation in the transport sector, including at the level of seaports, as well as in the field of green energy, in trade and in the financial sector, between the business structures of the two countries.

UAE Minister of Foreign Trade Thani bin Ahmed Al-Zeyudi in his speech noted that the Emirati-Turkmen economic cooperation is characterized by a wide scope, and today there is a comprehensive "umbrella" plan of joint actions both at the level of governments and at the level of the private sector. He expressed hope that the current business forum will facilitate the flow of goods and investments, increase mutual investment and trade.

Abdullah Mohammed Al Mazroui, President of the Federation of Chambers of Commerce of the Emirates and Chairman of the Board of Directors of the Abu Dhabi Chamber of Commerce, highly appreciated the development and progress of Emirati-Turkmen relations at various levels. According to him, the volume of foreign trade not related to the hydrocarbon sector between the two countries in 2021 reached 255.3 million US dollars, and this figure may increase, given that Turkmenistan has important geographical and natural advantages that stimulate investment.

Within the framework of the forum, three agreements were signed to expand cooperation between the UAE and Turkmenistan: on confidentiality between the Agency for Transport and Communications under the Cabinet of Turkmenistan and the Abu Dhabi Ports Company; on joint development of projects between the state company Turkmenenergo and the Abu Dhabi company Future Energy Masdar; on cooperation between the State Bank foreign economic activity of Turkmenistan and the First Bank of Abu Dhabi.

Presentations of the most important investment projects and a number of bilateral meetings were held during the forum.

ORIENT news