Ashgabat, Seoul ink economic co-op agreements
By Abdul Kerimkhanov
Turkmenistan and South Korea signed a package of bilateral intergovernmental documents on April 17 following the talks at the highest level in Ashgabat, according to the Turkmenistan State News Agency.
The signing ceremony took place in the presence of the presidents of Turkmenistan and South Korea Gurbanguly Berdimuhamedov and Moon Jae-in.
The Economic Cooperation Program, the Protocol on Amendments to the Convention for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income, a Memorandum of Understanding on Cooperation in the Field of Information and Communication Technologies were signed.
The heads of state also put their signatures under a joint statement.
The signed memorandums and agreements are aimed at developing fruitful partnership in the textile industry, transport, the oil and gas sector, healthcare and the medical industry, education and training of qualified professional personnel.
President of the Republic of Korea Moo Jae-in arrived in Turkmenistan on a state visit on April 16.
As noted, Turkmenistan considers South Korea to be a reliable business partner, with whom it intends to continue to develop productive cooperation.
Berdimuhamedov expressed confidence that the agreements reached in Ashgabat will give new substance to the bilateral relations.
Expressing appreciation for the warm welcome, President Moo Jae-in confirmed Korean interest in multi-faceted cooperation with Turkmenistan.
The parties stated that at the current stage the interaction between the two countries is actively developing, but there is a great potential for expanding its areas. In this context, the desire of Korean business circles to expand its presence in the Turkmen market and participate in new joint projects in various industries was noted. Sides expressed confidence that today's summit will help identify new prospects for cooperation.
In the course of the negotiations, which took place in an atmosphere of mutual understanding and constructiveness, the parties discussed a wide range of issues of Turkmen-Korean relations and specified their priorities.
Confirming the mutual desire to increase cooperation in the trade and economic sphere, Berdimuhamedov and Moo Jae-in also noted the importance of humanitarian and cultural contacts, speaking in favor of their all-round strengthening.
The head of South Korea also spoke about the proximity of the ethnic roots of the Turkmen and Korean peoples, which is a good basis for the development of sincere friendship. He also stressed that it is a high honor for him to begin his tour of Central Asia countries with Turkmenistan.
During the meeting, the parties exchanged views on a number of topical issues of the regional and international agenda of mutual interest.
"Turkmenistan has rich natural resources, a developing industrial and transport infrastructure and an agricultural complex. In turn, South Korea has modern technologies and production," said the Turkmen President, noting that Turkmenistan is counting on mutually beneficial cooperation with Korean business circles, including the creation of new industrial capacities based on advanced and environmentally friendly technologies.
As an example of effective joint activities, leading Korean companies involved in the implementation of projects for the construction and modernization of oil refining and gas chemical complexes were cited. Among them are the gas processing plant at the Galkynysh field and the gas chemical complex for the production of polymers in the village of Kiyanly of the Balkan velayat.
In this context, Berdimuhamedov suggested substantively considering the possibilities of implementing joint energy projects in Turkmenistan in the near future.
One of the key areas of bilateral cooperation is also identified in the transport industry. Large Korean transport and logistics, shipbuilding companies, as well as enterprises producing modern high-class cars, locomotives and wagons, could take part in the development of the transport and communication infrastructure of Turkmenistan as an important element of international cooperation in the field of sustainable transport.
The continuation of the partnership in the field of purchasing automotive vehicles in the Republic of Korea with the simultaneous creation of a base of Korean automotive companies in Turkmenistan is also promising.
The Turkmen side expressed readiness for a substantive discussion of the main parameters of cooperation in the field of railway transport. The most relevant here is the study of the possibilities of Korean companies to supply the relevant equipment, as well as their participation in the modernization of Turkmenistan's steel highways.
Turkmenistan is also ready to develop joint projects in the electronic industry, having for its development a rich intellectual potential, wide financial and material resources. The participation of Korean companies with high technologies in the creation of this industry in Turkmenistan could be another area of partnership. Advanced technologies of light industry of South Korean enterprises can be used in the further development of the Turkmen textile industry.
"The systematic introduction of digital technologies in all sectors is strategically important for the socio-economic growth of our country", said Berdimuhamedov.
In this regard, the Turkmen side is counting on the exchange of experience with Korean colleagues in the field of the digital economy and expresses readiness to establish direct contacts between the relevant government agencies, institutions and companies of the two states.
In order to strengthen trade relations, coordinate existing and prospective joint economic projects, expand partnership areas, strengthen the business activity of the business communities of both countries, Berdimuhamedov proposed the creation of a joint Turkmen-Korean Business Council. It may include Turkmen and Korean industrial enterprises, trading companies, banks, financial and industrial institutions, and economic information centers.
The head of Turkmenistan also expressed confidence that regular and systematic communication of business structures within the framework of the aforementioned Council will contribute significantly to the promotion of bilateral trade and economic cooperation.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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