President of Turkmenistan and Chief Executive Officer of Qatar Investment Authority discussed cooperation opportunities

Today, the President of Turkmenistan, who is on a visit to Doha, has met with the Chief Executive Officer of Qatar Investment Authority.

President Gurbanguly Berdymuhamedov and Sheikh Abdulla bin Mohammed bin Saud Al Thani have discussed the prospects for cooperation, taking into consideration the large-scale programs that have been launched in our country in order to modernize the economy and introduce innovative technologies.

The defined priority areas of cooperation includes the strategic for both countries fuel and energy sector, which are among the world’s energy powers, as well as creating high-tech oil and gas-chemical industries, the transport and communications sector, et al.

The ample opportunities for investment cooperation have been pointed out in the implementation of the large-scale infrastructural projects, which have been initiated by Turkmenistan and implemented with the participation of foreign partners. They include the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) transnational gas pipeline with an annual 33 billion cubic meter capacity. The Consortium “TAPI Pipeline Company Limited” was established, which is directed by the State Concern “Turkmengaz”. Well-known foreign companies show great interest in this large-scale project which is financed, among others, by such a reputable international agency as the Asian Development Bank.

Promising for cooperation are also the projects for further development of the supergiant gas field “Galkynysh”, mining the hydrocarbon resources in the Turkmen shelf area of the Caspian Sea.

As for cooperation in the transport sector, wide opportunities for partnership are provided in this by the earlier signed Agreement for Creating an International Transit and Transport Corridor to connect the countries of Central Asia and the Middle East. This corridor is to become an important link in the multimodal transport infrastructure of interregional and continental value.

Turkmenistan is carrying out a large-scale complex work in this respect, including the construction of modern autobahns and railways, and the associated engineering-technical facilities. Thus, the opening of new railroad and motorway bridges Turkmenabat-Farab across the Amu Darya has taken place recently. In November last year, the first phase of the Asian International Railway Corridor was put into operation. This is a steel trunk that connected our country to neighboring Afghanistan. In this regard, it has been stressed that, for its part, Turkmenistan is always ready for active and close cooperation in such strategic sector as transport.

At the same time, there are favorable preconditions for establishing cooperation in other areas, including the textile industry.

As was noted, the business circles of the State of Qatar show increasing interest in the Turkmen market. The policy of forming an innovative economy, such creating favorable foreign investment climate and foreign capital investments insurance arrangements, opens up broad opportunities for launching effective joint projects, further enhancing partnership and collaboration in carrying out investment projects.