Turkmenistan seeks more investment cooperation with the US

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ASHGABAT (TCA) — While on a working visit to the United States for the participation in the 73rd session of the UN General Assembly last week, Turkmenistan President Gurbanguly Berdymuhamedov attended a Turkmenistan–USA business forum, the State News Agency of Turkmenistan reported.

The meeting of President Berdymuhamedov with representatives of business circles of the two countries was very important for further development of trade and economic partnership and opening of new spheres of joint efforts. It was also remarkable that it was held in the year of the 10th anniversary of the establishment of Turkmenistan–USA Business Council, which was founded at the initiative of the Turkmen leader.

Executive Director of Turkmenistan–USA Business Council Eric Stuart opened the forum. Noting existing interest of leading American companies to intensification of partnership, Eric Stuart confirmed the intent of US business circles to expand their presence in the Turkmen market and take the most active part in implementation of large-scale state programs.

Speaking at the forum, President Berdymuhamedov said that rich natural resources, a favorable geographic location, and a steadfast open-door foreign policy stipulate the presence of serious perspectives for beneficial investments in Turkmenistan.

The Turkmen state provides significant support to foreign investors in the form of tax, customs, visa, insurance and other incentives, Berdymuhamedov said.

He called the United States one of the most important trade and economic partners of Turkmenistan. Bilateral trade is growing; and it increased by 27 percent in the first half of 2018 alone.

Today, 156 projects with the participation of American companies to a total amount of more than 2.5 billion US dollars are implemented in Turkmenistan.

Big American companies successfully work on the Turkmen market in such important segments as transport, fuel and energy sector, construction of power stations, telecommunications, software, and food industry.

“We welcome such cooperation and will encourage and support it,” the Turkmen leader said.

Sergey Kwan

TCA