At the Cabinet of Ministers meeting on Saturday (21 December 2024) Deputy Prime Minister and Minister of Foreign Affairs of Turkmenistan Rashid Meredov reported on the outcomes of the 15th joint meeting of the Turkmen-Japanese and Japanese-Turkmen Committees on Economic Cooperation.
The committee meetings were held in Ashgabat on 16-17 December 2024. The Japanese delegation was headed by Hiroyuki Tsubai, member of the Board of Directors of Itochu Corporation, Executive Vice President, President of ‘Machinery and Equipment’, Chairman of the Japan-Turkmenistan Committee for Economic Cooperation.
The Japanese delegation included the heads and representatives of Itochu Corporation, Mitsubishi Corporation, Kawasaki Heavy Industries Ltd, Sumitomo Corporation, and others, as well as the Ministry of Economy, Trade and Industry of Japan, the Bank for International Cooperation (JBIC), and the Japan Foreign Trade Promotion Organization JETRO.
The joint meeting of the Committees was devoted to two topics.
During the first part, issues related to partnership in the trade and economic sphere, in the oil and gas and chemical industries, as well as in the field of “green” energy were discussed. In these areas, the Turkmen side proposed:
- Establishing consultations on utilizing joint lending mechanisms to implement medium-scale decarbonization projects.
- Creating a mechanism to facilitate the export of goods produced at enterprises established by Japanese companies in Turkmenistan.
- Exploring the potential of using renewable methane as a raw material and collaborating on developing measures to reduce methane emissions.
- Studying Japanese expertise in green and hydrogen energy and establishing modern, high-tech production facilities.
- Establishing consultations on developing a new version of Turkmenistan’s national contribution, aligning with the Paris Agreement obligations within the framework of the GTG-2 project’s objectives.
In the section dedicated to cooperation in transportation, communication, construction, industry, and the electric power industry, the Turkmen side proposed the following:
- Formation of a working group to develop a project for the conversion of a gas turbine power plant in Lebap province into a combined cycle power plant.
- Engaging in comprehensive cooperation with Japanese companies specializing in advanced water management equipment and technologies, including organizing a presentation of these companies in the near future.
- Organizing a roundtable meeting on the topic of “Partnership opportunities with Japanese companies in the field of automotive equipment supply”.
The Japanese side expressed support for these proposals and confirmed their willingness to implement them.
In this context, the Turkmen side reported on the development of a draft Action Plan for 2025-2027 for the practical implementation of the agreements reached during the meeting.
Following the meeting, a Protocol and 7 documents were signed.
Commenting the report, the President Serdar Berdimuhamedov approved the proposals.
As noted, Turkmenistan attaches special importance to the consistent development of partnership with Japan. Mutually beneficial relations between the two countries are increasingly strengthening and reaching a qualitatively new level, President Serdar Berdimuhamedov said, instructing Rashid Meredov to continue work on deepening trade, economic and investment cooperation with Japan.