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Turkmenistan and the UAE will create a joint bank to invest in projects in priority areas of cooperation
22.11.2022
Turkmenistan and the UAE will create a joint bank to invest in projects in priority areas of cooperation

Turkmenistan and the United Arab Emirates are planning to create a joint bank with the opening of representative offices in both countries.  This proposal was made at the meeting of President Serdar Berdimuhamedov with Vice-Chairman of the Cabinet of Ministers, Minister for Administration of the President of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, TDH reports.

Describing the Turkmen market as exceptionally promising, Sheikh Mansur Nahyan emphasized that such an assessment includes the existence of all conditions for business in the country, primarily a favorable investment climate and sustained economic growth.  In this regard, a proposal was made to create a joint bank and open its representative office in both countries, the news agency of Turkmenistan writes.

Serdar Berdimuhamedov supported this proposal, noting that Turkmenistan would create all opportunities for this.

According to Nahyan, the UAE is interested in cooperation with Turkmenistan, which they see as a reliable and promising partner with huge resource and economic potential, and expressed confidence that the first official visit of Serdar Berdimuhamedov to the UAE and the documents signed within its framework will open a new page in history  relations between the two states.

During the meeting, the importance of intensifying trade and economic ties was emphasized, issues of interaction in a number of promising areas were discussed, including in the fuel and energy sector, as well as in such areas as the oil refining, gas chemical industry and transport.

Serdar Berdimuhamedov stated that the fuel and energy potential and favorable geographical location of Turkmenistan - at the crossroads of transport and communication routes of the world - are of great importance for building up Turkmen-Emirati cooperation.

- Our country has all the opportunities for cooperation with the leading oil and gas companies of the Emirates, - said the President of Turkmenistan.

Nahyan confirmed the readiness of the UAE business circles to expand the productive partnership with Turkmenistan.

Referring to the interaction of the two countries in the investment field and noting that during meetings with representatives of the Abu Dhabi Development Fund, issues of investing and attracting loans for the implementation of projects in the gas chemical industry, transport, logistics and financial areas are discussed, the President of Turkmenistan focused on the need to intensify this dialogue  .

The parties also noted the importance of building up partnerships in the field of maritime, rail and air communications.  In this context, the head of Turkmenistan stressed the relevance of establishing contacts with the International Port of Abu Dhabi in order to join the International Seaport of Turkmenbashi to the system of seaports of the world.

The interlocutors spoke for the importance of giving a new impetus to the activities of the Joint Committee for Cooperation between Turkmenistan and the UAE, as well as for the expediency of holding regular meetings between representatives of the business circles of the two countries.

Serdar Berdimuhamedov invited Sheikh Mansour bin Zayed Al Nahyan to visit Ashgabat at a convenient time for him.

The meeting took place the day before as part of the official visit of Serdar Berdimuhamedov to the UAE on November 21-22.

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