On 25 June 2024, the Turkmenistan-United Arab Emirates Business Forum was held in Ashgabat at the Chamber of Commerce and Industry, which brought together representatives of government and business circles of the two countries.
The event was attended by companies specializing in the fields of energy, digital technologies, trade, agriculture, food industry, construction and tourism, including HK Associates, AMEA Power, Arabian Falcon Holding, ADIO, etc.
The agenda of the forum includes a discussion of promising areas of interstate cooperation in the economic, investment, industrial sectors, as well as in the field of renewable energy sources.
Speakers highlighted Turkmenistan’s strategy of economic diversification, which involves actively seeking international expertise and advanced technologies. The forum emphasized the country’s openness to constructive dialogue and its efforts to attract foreign partners, particularly from the UAE business community. The favorable investment climate and streamlined business regulations were presented as key advantages for doing business in Turkmenistan’s promising market.
The forum emphasized the potential of joint projects to drive economic cooperation. These projects could attract investment, establish mixed industries, build a modern infrastructure system, and foster collaboration in banking and finance.
Speeches by UAE company leaders confirmed their strong interest in expanding their presence in the Turkmen market.
Discussions focused on elevating relations across various economic and investment sectors, including high technology, increasing trade turnover, and outlining concrete plans for joint ventures.
The forum highlighted opportunities for collaboration in transport and logistics. Turkmenistan’s recently developed infrastructure, including the Turkmenbashi International Seaport, new highways, and airports, presents significant potential for cooperation. The emphasis on large-scale transport projects signifies promising prospects for partnerships with renowned UAE companies.
The Turkmenistan-UAE Business Forum highlighted opportunities for collaboration beyond traditional sectors. Turkmenistan, a major natural gas exporter with a well-developed gas chemical industry, expressed its readiness to expand mutually beneficial ties in this sector.
A separate topic of discussion was the rational use of renewable energy sources. Being a country with huge reserves of oil and gas resources, Turkmenistan strives to develop “green” energy. In this context, cooperation in the field of solar and wind energy is also seen as relevant.
Other relevant areas of partnership include agriculture, communications and communications, the processing and chemical industries, the introduction of advanced technologies, construction, healthcare, ecology, etc.
The Union of Industrialists and Entrepreneurs of Turkmenistan expressed the willingness of Turkmen entrepreneurs to long-term partnership with the UAE, expand dialogue with their counterparts, use their successful experience, and introduce modern business management methods and solutions.
The most important part of this work is the holding of joint exhibitions of manufacturers of goods and services, as well as business forums on a regular basis.
Within the framework of the forum, meetings were held between entrepreneurs of the two countries.