A Turkmen-Japanese business forum was held in Tokyo to mark the visit of President Gurbanguly Berdimuhamedov to the Land of the Rising Sun, which begins on Monday, August 21.
The business meeting, which was held at the Shinagawa Prince Hotel, was attended by top managers of large Japanese companies specializing in various industries, representatives of financial and investment circles. Turkmenistan was represented by the heads of key government departments and members of the Union of Industrialists and Entrepreneurs.
Opening the forum and welcoming the guests, the representative of Itochu Corporation, Mr. Sugiyama, noted that this was the fourth visit of the Turkmen leader to Japan, which is connected with Turkmenistan by friendly relations and political and economic contacts. He recalled that in May 2019, the 13th meeting of the joint Turkmen-Japanese committee on economic cooperation was held in Ashgabat, during which 7 agreements were signed. It is also noted that such meetings attract more and more companies, which means that there is not just mutual interest, but also a willingness to intensify the dialogue.
During the current visit to the Turkmen delegation to Tokyo, it is also planned to sign a number of agreements regarding the development of business partnerships.
Speaking at the forum, Sojitz’s senior managing director, Nishihara, said the corporation entered the Turkmen industrial market in 1990 by participating in projects such as the construction of polypropylene plants at a refinery on the Caspian Sea. However, after this, the pace of investment slowed for many years. Until 2007, when Turkmen President Berdimuhamedov put forward a state strategy for economic development.
In the process of implementing this strategy in 2019, Sojitz, together with Kawasaki Industries, received a new major project – the construction of an ammonia-urea fertilizer plant. In parallel, a phosphate fertilizer production program was launched. Both projects have been successfully implemented. And in 2015, Sojitz was entrusted with participating in the project for the construction of a gasoline production plant, the first such enterprise in the world on a commercial scale built by the Japanese company Kawasaki and the Turkish holding Rönesans Holding.
The plant went into operation in the summer of 2019. Sojitz Corporation is currently working on the second phase of the phosphate fertilizer program and the construction of an ammonophosphate fertilizer plant.
“The company will continue to contribute to the development of industry in Turkmenistan, creating high added value to Turkmen resources based on Japanese technology,” said Nishihara.