Oriented on making people closer

On Monday, 14 October, the third meeting of the Turkmen-Chinese working group on investment cooperation was held in Ashgabat. During the meeting, the progress of the agreements reached between the President of Turkmenistan Serdar Berdimuhamedov and President of China Xi Jinping during the "Central Asia-China" summit in May 2023 was analyzed.

The parties reviewed the results of their joint work since the second meeting of the working group, highlighting the role of Chinese enterprises, which have invested USD 4.18 billion in projects implemented in Turkmenistan as of the end of August 2024.

It was decided to actively explore and stimulate the expansion of mutual investments, strengthen the role of the working group and other mechanisms of interaction in key areas.

The Turkmen side informed the Chinese participants of the meeting about specific measures taken to improve the investment climate and business environment in the country, progress in the process of accession to the World Trade Organization and the latest assessment studies of the international rating agency “Fitch ratings”.

The Chinese delegation informed about the work done on important projects in the oil and gas sector, transport, chemical industry, etc. In the course of the talks, the parties confirmed their mutual readiness to deepen cooperation in traditional areas of cooperation, such as energy resources and infrastructure, as well as to identify the potential for partnership in the areas of new energy, green minerals, and to create new points of growth.

Representatives of the business circles of the two sides - enterprises, industry organizations, financial institutions - had an in-depth exchange of views on intensifying investment relations in the industrial sector and agreed to continue working on improving the mechanisms of cooperation.

At the meeting, the Turkmen part of the working group was headed by Galina Romanova, Head of the Consolidated Department of Public Finance and Economic Policy of the Ministry of Finance and Economy, and the Chinese part by Yang Hao, Deputy Head of the Department of Foreign Investment and Economic Cooperation of the Ministry of Commerce of the People's Republic of China.

The meeting was attended by specialists from the Ministry of Finance and Economy, the Central Bank, the Bank for Foreign Economic activities, the Ministries of Industry and Construction, Textile Industry, Energy, Agriculture, Environmental Protection, the State Concerns “Turkmennebit”, “Turkmengaz”, “Turkmenhimiya”, the State Corporation “Turkmengeology”, subdivisions of the Agency of Transport and Communications, State Associations of Livestock and Poultry Farming, Food Industry, Grain Products, as well as the Union of Industrialists and Entrepreneurs.

The Chinese side was represented by officials from the Ministry of Commerce and regional departments for investment management and foreign trade, Export-Import Bank of China, the China Chamber of Commerce for the Import and Export of Mechanical Engineering and Electronic Products, top managers of a number of companies specializing in industrial engineering, computer technology, oilfield and chemical equipment, CNPC Corporation and its branches in Turkmenistan, Huawei Technologies and others.

ORIENT news

Photo: provided by the organizers