TRADE AND ECONOMIC TIES WERE DISCUSSED IN THE FINAL PART OF THE POLITICAL CONSULTATIONS BETWEEN TURKMENISTAN AND THE UNITED STATES

On December 17, 2020, the final stage of political consultations between Turkmenistan and the United States took place in the format of a video conference.

From the Turkmen side, the meeting was attended by the heads and representatives of the Ministry of Foreign Affairs, the Ministry of Finance and Economy, the Ministry of Agriculture and Environmental Protection, as well as the Union of Industrialists and Entrepreneurs of Turkmenistan. The US delegation was led by Dan Negrea, a senior State Department official.

During the meeting, the parties discussed the current level of trade-economic cooperation and exchanged views on expanding partnership in areas of mutual interest.

Speaking at the meeting, Minister of Foreign Affairs of Turkmenistan R.Meredov emphasized that trade-economic ties are one of the main areas of joint activities of the two countries. He spoke for the further development of partnership in investment and innovation activities, in the field of modernization of production and mutual trade. The success of the long-term work of American companies in the Turkmen market and the effectiveness of the Turkmen-American Business Council were emphasized.

The participants of the meeting listened to the presentations of the parties on the main vectors of interaction. The practical steps of Turkmenistan towards improving the investment and business climate of the country, as well as the regulatory framework were highlighted, which was confirmed by the reports of reputable international financial institutions, in particular the IMF, EBRD and the World Bank. This is also evidenced by the accession of Turkmenistan to the World Trade Organization as an observer. The activity on the economic empowerment of women in Turkmenistan was noted.

The parties spoke about the importance of the United States Agency for International Cooperation (USAID), including its role in the implementation of joint projects at the national level and within the framework of cooperation between the countries of Central Asia and the United States "C5 + 1". The importance of the Investment and Trade and Investments Framework Agreement (TIFA) was also highlighted.

During the meeting, the sides discussed the possibilities of developing cooperation in the implementation of infrastructure projects of regional and international importance. Potential directions include the creation of interregional transport and transit corridors along the East-West and South-North lines with access to Asian, European and Middle East markets, as well as the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and other mutually acceptable projects.

The parties also talked about expanding partnerships in the field of environmental safety, including the creation of production facilities for renewable energy sources and the implementation of scientific exchanges.

Summing up the political consultations, the parties expressed satisfaction with the positive dynamics in the development of relations between Turkmenistan and the United States, and also reaffirmed their commitment to partnership in the interests of global peace, security, progress and constructive development.