Cooperation in the energy sector became one of the main topics of the meeting of President of Turkmenistan Gurbanguly Berdimuhamedov with Minister of Economy of Azerbaijan Mikail Chingiz oglu Jabbarov, held in Ashgabat on Thursday.

Having emphasized the development of this sector for both states, possessing the largest oil and gas fields, is a priority, Gurbanguly Berdimuhamedov and his guest spoke in favor of increasing cooperation based on the principles of equality and mutual benefit.

Jabbarov Mikail Chingiz oglu noted that Azerbaijan attaches great importance to building up economic cooperation between the two countries.  In this context, the guest continued, the recommendations of Presidents Gurbanguly Berdimuhamedov and Ilham Aliyev create the necessary basis for strengthening interstate dialogue.

In turn, the Turkmen leader noted the commitment of Turkmenistan to develop long-term cooperation with Azerbaijan on an equal and mutually beneficial basis.

Emphasizing the strategic nature of interstate cooperation in political, trade, economic, transport, communication and other spheres, Gurbanguly Berdimuhamedov and his guest noted the importance of strengthening the role of the Intergovernmental Turkmen-Azerbaijani Commission on Economic Cooperation.  At the same time, it was noted that mutual investments are one of the factors in expanding the partnership.

They also emphasized the need to ensure proper economic, financial and legal conditions for entrepreneurial activity, the organization of forums between the business circles of both countries.

As noted during the meeting, the very geographic location of the two neighboring states creates favorable preconditions for the effective combination of efforts in the implementation of projects on the formation of transcontinental transport and transit corridors that provide optimal profitable land and sea routes for the transportation of goods.

The Minister of Economy of Azerbaijan stressed that the agreements reached during the visit of the President of Turkmenistan to Azerbaijan gave a powerful impetus to the further development of transport and logistics ties.  In this context, it was emphasized that both countries, using their modern infrastructure, provide transit services to various states, which serves to strengthen interregional and bilateral relations.

Recall that in January this year, Turkmenistan and Azerbaijan signed a Memorandum of Understanding on joint exploration, development and development of the Dostluk hydrocarbon field in the Caspian Sea.  The Russian oil company Lukoil announced its intention to take part in a project to develop this field.