Azernews.Az

By Aynur Jafarova

The business circles of Saudi Arabia seek to expand its presence in the Turkmen market to implement joint investment projects.

A Saudi business delegation led by Minister of Trade and Industry of the Kingdom of Saudi Arabia Dr. Tevfik Fevzan bin al-Rabia confirmed this willingness at the first meeting of the Joint Intergovernmental Turkmen-Saudi Arabian Commission for Trade and Economic Cooperation held in Ashgabat on February 21. The heads and representatives of several government departments of Turkmenistan and Saudi Arabia attended the meeting.

During the meeting, the co-chairs of the Commission noted with satisfaction the high level of interstate relations and supported the idea of expanding and diversifying the Turkmen-Saudi Arabian cooperation in the fields of trade, economy, oil and gas, agriculture, sports and tourism.

The sides also noted the importance of expanding cultural ties, including through participation in international conferences and other art forums organized in Turkmenistan and Saudi Arabia.

The Turkmen-Saudi Arabian cooperation was also mulled at a meeting of the Saudi delegation with Turkmen President Gurbanguly Berdimuhamedov.

During the meeting, the Saudi minister reaffirmed the businessmen's willingness to enter the Turkmen markets. He went on saying that this intention is related with the huge resources and economic potential of Turkmenistan, as well as favorable investment climate established in the country.

Among the key areas of cooperation between Turkmenistan and Saudi Arabia, Tawfiq bin Fawzan Al Rabiah mentioned the chemical industry. The sides noted the development of trade-economic and humanitarian-cultural relations between the two countries.

Saudi Arabian ambassador to Ashgabat Turki bin Khalid bin Faisal Al-Hashr also attended the meeting.

Saudi Arabia was one of the first countries recognizing the independence of Turkmenistan and establishing diplomatic relations with the Caspian littoral country. Saudi Arabia opened its embassy in Ashgabat in 1997.

The two countries are examining the partnership opportunities in the sector of fuel and energy, production of cement and other building materials, as well as agriculture, including animal husbandry, cultivation of grain and forage crops.