Turkmen President Invites UAE Companies to More Energy Sector Cooperation

Turkmen President Invites UAE Companies to More Energy Sector Cooperation

President of Turkmenistan Serdar Berdimuhamedov during his speech at the Turkmenistan-United Arab Emirates business forum on Tuesday in Abu Dhabi has invited the companies from the United Arab Emirates to active cooperation in projects in the energy and gas chemical industries of Turkmenistan, the official Turkmen media reports.

The Head of the country informed that Dragon Oil is successfully operating in the oil industry of Turkmenistan. President Berdimuhamedov also stated that Turkmenistan considers the United Arab Emirates and their business circles as the most promising partners.

“I believe that we have reached a point where we really need large-scale, development-oriented joint projects that can become a driving force of economic cooperation and open up new opportunities for attracting investments, creating mixed production facilities, establishing a modern infrastructure system, and give impetus to the long-term, strategic and integrated Turkmen-Emirati cooperation,” Turkmen President Berdimuhamedov stressed, adding that, “to this end, we are ready to create favorable legal and organizational conditions and provide investors with necessary support in the form of tax, customs, visa, insurance and other benefits."

A number of documents on cooperation were signed during the forum.Among them are the agreement between the Türkmenenergo State Electricity Corporation of the Ministry of Energy of Turkmenistan and Abu Dhabi Future Energy Company Masdar on cooperation on development of renewable energy projects in Turkmenistan with total installed capacity of 100 MW, and an agreement on cooperation between the State Bank for Foreign Economic Affairs of Turkmenistan and the First Bank of Abu Dhabi.

The business forum took place within the two-day official visit of President Berdimuhamedov to the UAE, which started on Monday.

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