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null President of Turkmenistan and Chairman of the People’s Council of Turkmenistan receive HE Abdulla bin Touq

26 Jun 2024

As part of the visit of the UAE delegation-led by the Minister of Economy to participate in the UAE-Turkmenistan Business Forum

 

President of Turkmenistan and Chairman of the People’s Council of Turkmenistan receive HE Abdulla bin Touq

 

  • The Forum serves as a crucial platform to enhance economic partnership between the UAE and Turkmenistan and expand areas of cooperation to support the development and leadership of both countries.

 

  • Turkmenistan is an important economic partner for the UAE in the Central Asian region, where numerous mega-projects are being undertaken in the energy, renewable energy, transport and logistics sectors.

 

  • Non-oil foreign trade between the two countries rose to more than $1.26 billion in 2023, making a twofold increase compared to 2021.

 

  • The UAE’s delegation comprised 46 representatives of 38 government agencies and national companies, including the UAE Chambers, the Abu Dhabi Chamber of Commerce and Industry, Crescent Petroleum and AMEA Power.

 

 

His Excellency Serdar Berdimuhamedov, President of the Republic of Turkmenistan, and His Excellency Gurbanguly Berdimuhamedov, Chairman of the People's Council of Turkmenistan, received His Excellency Abdulla bin Touq Al Marri, UAE Minister of Economy and his delegation during their official visit to the country. The meeting was also attended by H.E Ahmed Al Hameli, UAE Ambassador to Turkmenistan.

 

Bin Touq conveyed greetings from His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, and His Excellency Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court. His Excellency extended their wishes for further progress and prosperity to the leadership and people of Turkmenistan. President Berdimuhamedov reciprocated and conveyed his greetings to H.H. Sheikh Mohamed bin Zayed Al Nahyan, expressing his well wishes for the UAE’s continued development.

 

During a meeting, the two sides discussed ways to strengthen cooperation across various economic sectors, including energy, renewable energy, the new economy, tourism, transport, entrepreneurship and technology. Both sides emphasized the significance of enhancing their existing partnership, expanding prospects for economic cooperation, and diversifying areas of cooperation to reflect the robust relations and strong ties between the two countries in line with their development aspirations.

 

His Excellency bin Touq asserted that the UAE's relations with Turkmenistan have spanned over 29 years, characterized by deep roots and continuous development across political, economic, and cultural sectors. “This growth has been fostered by the support and vision of the wise leadership in both countries, who are committed to enhancing these ties and driving them to more prosperous levels. The UAE, under the guidance of its wise leadership, has actively sought to strengthen economic cooperation with Turkmenistan by signing many agreements and memorandums of understanding (MoUs) in vital economic sectors, leading to the establishment of many joint projects in the markets of both countries,” His Excellency said.

 

Bin Touq added: “Turkmenistan is an important economic partner for the UAE in the Central Asian region, where numerous mega-projects are being undertaken across various economic sectors, particularly in energy and renewable energy. In 2023, non-oil foreign trade between the two countries rose to over USD1.26 billion in 2023, making a twofold increase compared to 2021.”

 

His Excellency Ahmed Al Hamli, the UAE Ambassador to Turkmenistan, commended the strong ties between the two countries, noting that the political and diplomatic relations significantly advanced over the past three decades. “This progress began during the era of the late Sheikh Zayed bin Sultan Al Nahyan, founding father of the UAE, continued under the late Sheikh Khalifa bin Zayed, , and gained further momentum in the era of High Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE,” His Excellency added.

 

Al Hamli thanked the leadership and government of Turkmenistan for their efforts in fostering bilateral relations and enhancing cooperation opportunities with the UAE.

 

The UAE Delegation Participates in the UAE-Turkmenistan Business Forum

 

The visit of His Excellency Abdulla bin Touq Al Marri-led delegation is part of its participation in the UAE-Turkmenistan Business Forum held on June 24-25. The Forum aims to promote economic and business opportunities in both countries, enhance communication between their business communities, and foster new partnerships at both public and private levels. These efforts are expected to bolster trade and investment exchanges in the future.

 

“The UAE-Turkmenistan Business Forum serves as a crucial platform to enhance economic partnership between the two countries. It aims to expand cooperation by exploring economic opportunities, nurturing trade growth, promoting collaboration across various sectors of mutual interest, while supporting future development and entrepreneurial goals to sustain and boost economic growth,” Bin Touq stated during the meeting.

 

H.E also highlighted recent advancements in the UAE’s business environment and economy, following the adoption of flexible and competitive economic regulations, policies, and strategies, including developing a strong and sustainable economic ecosystem and strengthening state-of-the-art infrastructure aligned with global standards. Bin Touq asserted that efforts have been made to diversify the national economy, with non-oil sectors now constituting over 74 per cent of UAE's GDP. These efforts, H.E said include providing the private sector with monetary and financial instruments to address periodic economic fluctuations and ensure financial sustainability, as well as encouraging business communities to invest in new economic sectors such as eCommerce, agriculture technology, healthcare, manufacturing, fintech, logistics, tourism, entrepreneurship, and space.

 

Furthermore, Bin Touq invited companies and investors from Turkmenistan participating in the forum to capitalize on the UAE’s economic advantages and benefit from the incentives to establish businesses and activities across the seven emirates.

 

H.E stated that the Emirati companies are keen to inject more investments in Turkmenistan markets in various economic sectors, including food, energy, clean energy, water, transportation, and logistics. As of the first quarter of 2024, UAE assets in foreign markets totaled $2.5 trillion, underscoring the UAE’s diverse investment portfolio across numerous Asian countries with huge and distinct projects.

 

During the Forum, H.E met with several ministers and officials in the Turkmenistan government, including H.E Batyr Atdayev, Deputy Chairman of the Cabinet of Ministers of Turkmenistan for Trade Complex, Textile Industry and Entrepreneurship, H.E Begenç Goçmollaýew, Minister of Trade and Foreign Economic Relations, H.E Gurdov Mergen, Chairman of the Chamber of Commerce and Industry of Turkmenistan, and H.E Nokir Guli Ata Guliyev, Chairman of Manufacturers and Entrepreneurs. Discussion revolved around the future economic and trade collaborations aimed at strengthening mutual economic and investment ties.

 

The forum hosted a series of meetings between representatives of the UAE and Turkmenistan companies to explore possibilities for consolidating trade and investment relations. The participating companies also gave presentations on the investment opportunities available in both countries.

 

The delegation-led by H.E Abdulla bin Touq Al Marri consisted of 46 representatives of 38 government entities and national companies, including UAE Chambers, Abu Dhabi Chamber of Commerce and Industry, Ajman Chamber of Commerce and Industry, UAQ Chamber of Commerce and Industry, Ajman Municipality and Planning Department, National Advisor Bureau, AMEA Power company, Crescent Petroleum, Arabian Falcon Holding, Kilimanjaro Energy Investments, HK Associates, MARS FOOD INDUSTRIES LLC, Tabadul International General Trading, ADIO, Impex Global Boards, Viahub Communications Corporation, AFWAQ GENERAL TRADING, EurAsia Gulf, and Farm To Plate.

 

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