Turkmenistan and Italy developing economic cooperation

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ASHGABAT (TCA) — A business forum which gathered together representatives of business circles, government organizations and private structures of Turkmenistan and Italy took place in Milan on November 6 as part of the official visit of Turkmen President Gurbanguly Berdymukhammedov to Italy, the State News Agency of Turkmenistan reported.

The Trade Agency of the Ministry of Commerce of Italy and Trade and Industrial Chamber and the Union of Industrialists and Entrepreneurs of Turkmenistan were the hosts of the event under the aegis of foreign departments of the two countries.

The forum was opened by General Director of the Trade Agency of the Ministry of Commerce of the Republic of Italy Roberto Luongo, who said that subjects of the forum are not limited by export-import relations but also spread to the study of wide opportunities of cooperation. At the same time, Mr. Luongo pointed out significant growth of trade between Turkmenistan and Italy by the outcomes of the first half of 2019.

Mr. Luongo said that the current meeting has to be continued during a return visit to Ashgabat next year.

Vice-President of Lombardy Region of Italy Fabricio Sala also made a greeting speech at the forum, saying that the forum gives good opportunities for study of future cooperation. Being one of the rapidly developing economies of Central Asia with huge natural resources, Turkmenistan represents huge economic potential for establishment of trade and investment relations, he said.

As of today, 22 investment projects to a total amount of around 13 million US dollars and 16 companies with Italian capital operate in Turkmenistan.

Signing of bilateral documents took place as a result of the Turkmen–Italian business forum. In particular, 12 memorandums and agreements were signed in the diplomatic field, energy industry and transport spheres, textile industry, as well as in the banking sector, healthcare and education.

In addition, 11 contracts were signed by Turkmen businessmen with different Italian companies, including for supply of equipment and technological lines for import substitutive production facilities.

Sergey Kwan

TCA