nCa Report – Elvira Kadyrova
Foreign Minister of Turkmenistan Rashid Meredov today, on 18 November 2023, delivered an address at the introductory part of joint Turkmen-Iranian Business Forum, commending the remarkable progress achieved in bilateral trade and economic relations between two between the two neighboring countries.
Here is a summary of Meredov’s key statements:
Turkmenistan proposes to create trade zones on the border with Iran
Turkmenistan’s vibrant economic landscape, abundant natural resources, strategic geographical positioning, and open-door foreign economic policy present vast of investment opportunities for Iranian partners.
Bilateral trade and economic relations between Turkmenistan and Iran have been steadily flourishing, driven by the active engagement of both the private and public sectors. Cross-border trade plays a pivotal role in this dynamic partnership, with the border market at the Gaudan-Bajigiran border crossing serving as a thriving example.
To further amplify cross-border trade, Turkmenistan proposes the establishment of border trade zones at the Sarakhs-Sarakhs and Altyn Asyr-Incheh Borun border crossings, paving the way for enhanced economic cooperation and regional connectivity.
Gas cooperation stands as a cornerstone of the Turkmen-Iranian partnership. The two countries have established a solid foundation for collaboration in the gas sector, with experience in supplying Turkmen natural gas to Iran.
Both countries have successfully implemented the swap scheme, facilitating the supply of Turkmen natural gas to third-party buyers.
Building upon this success, the 17th meeting of the Intergovernmental Turkmen-Iranian Commission on Economic Cooperation explored the potential to expand gas supplies from Turkmenistan to Iran, further strengthening the energy partnership.
Promising cooperation with high-tech Iranian companies in the field of fuel and energy, petrochemistry
Turkmenistan’s fuel and energy complex stands as a pillar of the nation’s economy, undergoing continuous modernization and enhancement through the adoption of cutting-edge technologies and equipment.
In this context, Turkmenistan extends an invitation to collaborate with Iran’s high-tech and large-scale industrial companies.
Recent years have witnessed a surge in the development of oil and gas chemical industries in Turkmenistan. The infrastructure of these sectors has been bolstered by the commissioning of new production facilities, with deep processing products of high added value being manufactured in partnership with foreign partners.
Notable examples include the Mary plant for ammonia and urea production, GTG plant, the Garabogaz urea production plant, and the polypropylene and polyethylene plant.
The petrochemical industry holds immense promise for the Turkmen-Iranian partnership, offering a wealth of opportunities for collaboration.
Energy and Industrial Cooperation
Electricity presents another fruitful area for economic cooperation between Turkmenistan and Iran. Turkmenistan is currently constructing its section of the 500-kilovolt Mary-Mashhad transmission line, aiming to increase electricity supplies to Iran.
Collaboration with Iranian companies and enterprises in the field of renewable energy also holds vast potential.
In the industrial sector, Turkmenistan is actively pursuing the development of the machine-building and instrument-making industries. Favorable conditions are being fostered to establish industrial cooperation with major Iranian enterprises.
Turkmenistan is ready to bring transport cooperation with Iran to a qualitatively new level
The transport and communication sector is an area of partnership between Iran and Turkmenistan, where many years of experience of cooperation have been accumulated.
The Kazakhstan-Iran-Turkmenistan railway, inaugurated in 2014, stands as a testament to the enduring collaboration between Iran and Turkmenistan in the transport and communication sector. Both countries are determined to elevate their partnership to new heights, particularly in the realm of road development.
The Gumdag-Etrek-Iran border highway project is a prime example of this shared vision. A memorandum of cooperation between the Iranian and Turkmen sides will be signed to formalize this endeavor.
Additionally, there is ample scope for exchanging expertise in the introduction of advanced technologies and equipment within the transport and communication sphere.
On cooperation in the field of water use and agriculture
Among the promising areas of cooperation, Meredov also highlighted the water industry, in particular rational water use, the experience of Iranian companies in the field of water-saving technologies; the agro-industrial complex including breeding activities, processing of agricultural products, improving the efficiency of agriculture, etc.
Turkmenistan invites Iranian business to Arkadag Smart City projects
The Minister of Foreign Affairs of Turkmenistan told the forum participants that the implementation of the second stage of the Arkadag smart city has commenced following the completion of the first stage in June of this year.
The second phase envisions the establishment of industrial cluster facilities, including enterprises in the medical, pharmaceutical, and baby food industries. Turkmenistan welcomes the participation of interested Iranian companies in these planned projects.
Turkmen-Iranian business forum took place in Ashgabat, bringing together representatives from the public and private sectors of Turkmenistan and the Islamic Republic of Iran. The event served as a catalyst for strengthening bilateral cooperation and expanding horizons for economic collaboration.
The plenary session of the forum was presided by Co-Chairs of the Intergovernmental Turkmen-Iranian Commission on Economic Cooperation, namely, Minister of Foreign Affairs of Turkmenistan Rashid Meredov and Minister of Roads and Urban Development of the Islamic Republic of Iran Mehrdad Bazrpash.
Participants unanimously acknowledged the forum’s significance as a pivotal step in fostering deeper bilateral cooperation, encompassing a diverse range of areas, including trade, economic development, fuel and energy, and transport and logistics. It also provided a valuable platform for engaging dialogue between the business communities of Turkmenistan and Iran, facilitating the exploration of bilateral potential and devising strategies to expand and strengthen partnerships.
On the sidelines of the business forum, representatives from the business circles of Turkmenistan and Iran engaged in a series of meetings and negotiations. The fruitful discussions led to the signing of bilateral documents, solidifying the traditionally strong ties between entrepreneurs from both countries. ///nCa, 18 November 2023