Turkmenistan, Saudi Arabia ready to increase co-op in oil & gas sector

By  Trend

Turkmen President Gurbanguly Berdimuhamedov met Minister of Trade and Investment of Saudi Arabia Majid bin Abdullah Al Qasabi, the Turkmen Altyn Asyr TV channel reported.

During the meeting, it was noted that Turkmenistan and Saudi Arabia, being recognized world energy powers, are ready to increase cooperation in the oil and gas sector.

In recent years, Turkmenistan has been actively working on the creation of a multi-optional system for bringing its energy resources to world markets by consistently implementing important energy projects, the Turkmenistan State News Agency reported.

Construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) transnational gas pipeline is one of such examples, the report said.

Special attention during the meeting was paid to significance of the agreements reached as part of the official visit of the Turkmen president to Saudi Arabia in May 2016 and the role of the intergovernmental Turkmen-Saudi commission on trade and economic cooperation.

Al Qasabi expressed confidence that new steps will be made to specify interaction, in particular, in the fuel and energy sector, textile and food industry, banking sector, media, education, science, culture, sports and tourism.

Noting that Turkmenistan in the implementation of its economic policy relies on the latest achievements of scientific and technological progress by attracting leading foreign companies and investments, the Turkmen president offered Saudi Arabia’s partners to consider in details the possibility of implementing joint projects in key areas for the national economies of both countries.

"The sides also emphasized the feasibility of holding regular business meetings and business forums that promote the establishment of close contacts, between both state and private structures," the report said.