Bilateral documents are signed at Turkmen – Singapore business forum

Published in Economics
Thursday, 29 August 2019 09:47

Bilateral documents signing ceremony was held during Turkmen – Singapore business forum.

The following documents have been signed:

The Agreement on Cooperation between the State Bank of Foreign Economic Affairs of Turkmenistan and Bank Association of Singapore and the Agreement on Cooperation between the State Bank of Foreign Economic Affairs of Turkmenistan and DBS Bank Ltd. (Development Bank of Singapore);

Memorandum of Understanding between the Ministry of textile Industry and Indorama Corporation Pte. Ltd.;

In addition, Memorandum of Understanding has been signed between the Trade and Industrial Chamber of Turkmenistan and Singapore Business Federation. The Memorandum of Understanding between Turkmen State Institute of Economics and Management and the Institute of Management Development of Singapore has also been signed.

The same document was signed by the Ministry of Industry and Communication of Turkmenistan and Singapore Company Pacific International Lines Pte. Ltd, which have agreed on cooperation in transport and logistics.

Two Memoranda of Understanding was signed by the Union of Industrialists and Entrepreneurs of Turkmenistan with Vallianz Holdings and Sun Connect Pte. Ltd.

The second part of business forum was dedicated to industrial complex and transport sphere of Turkmenistan and to cooperation in these sections including with participation of business communities.

The state news agency of Turkmenistan

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    Turkmen – Singapore business forum is to be held in Singapore under the state visit of President Gurbanguly Berdimuhamedov to the Republic of Singapore.

    Meeting of representatives of business circles of two countries is to become a starting event for taking of trade and economic partnership contact to new level, for opening of new points of consolidation of efforts.

    The meeting of the conference hall of Shangri La Hotel was forestalled by the exhibition of export goods of our country. It presented the production of textile industry, yarn, fabrics and readymade sewing production including jeans, bright gift bedding, kitchen and bath sets, silk items and ornamented carpets.

    It also presented the products made by the facilities of chemical industry of Turkmenistan, which was described in details in informational bulletins and booklets. Bright banners attract the attention to the displays of oil and gas industry, agriculture, food industry and other branches.

    Turkmenbashy International Seaport has also presented its display at the exhibition, having demonstrated passenger and commercial fleet, capabilities of cargo transfer and shipbuilding yard.

    In addition to pharmaceutical production, the section of medical industry demonstrated herbal teas from the plants growing in Turkmen land, medicine made of licorice, cosmetic face masks based on mineral materials.

    Turkmen entrepreneurs also demonstrate their production in Singapore. These are home textile, clothes, washing liquids. Stylish leather footwear, food products, natural fruit juices, confectionary.

    Private tourist agencies offered their service in tourism business inviting t make a wonderful trip around historical places of Turkmenistan and to see its modern architectural beauties.

    The state news agency of Turkmenistan

  • Turkmen – Singapore business forum starts working

    Turkmen – Singapore business forum, which was timed to the visit of President Gurbanguly Berdimuhamedov to this country, started working in Singapore.

    More than 40 big companies of Singapore took part in business meeting in the conference hall of Shangri-La Hotel. Specialization of the companies is rather broad. This is production of equipment for oil and gas, chemical, energy, agricultural and food production spheres, construction industry, shipbuilding, transport and communication sphere, trade, banking business, development of software, engineering and other.

    Turkmenistan was represented by the heads and specialists of different ministries and departments and members of the Union of Industrialists and Entrepreneurs.

    The forum was opened by Teo Xyong Xeng, the Chairman of Singapore Business Federation, which unites more than 25,800 companies as well as the main local and foreign business chambers.

    In his speech, he noted that current forum gives good opportunities for study of capabilities of cooperation and investment collaboration. According to his words, trade between Turkmenistan and Singapore was 43.4 billion US dollars in 2018, which is 5 times higher than in 2016.

    Being one of the most rapidly growing economies in Central Asia with huge natural resources, Turkmenistan represents huge economic potential for establishment of trade and investment relations, Teo Xyong Xeng said, having announced the signing of the Memorandum of Understanding on cooperation between Singapore Business Federation and Trade and Industrial Chamber of Turkmenistan.

    In this context, such priority spheres as oil and gas sphere, energy, chemistry, construction, transport and logistic, agriculture have been mentioned.

    The state news agency of Turkmenistan

  • Business circles of Caspian countries discuss perspective projects and sign the agreements

    In the afternoon, the conference hall of Berkarar Hotel hosted the meeting of representatives of business circles of Caspian states. Its agenda included topical subjects of establishment of international cooperation, attraction of foreign investments and technologies in different branches of the states of the region, discussion of perspective joint projects.

    For example, one of the session was dedicated to the cooperation in oil and gas sphere, its directions and perspectives. Officials of the State Concern Turkmengaz, Malaysian PETRONAS, Chinese CNPC and other took part in the session. The review of activity of big foreign partners in Turkmenistan has been presented and new investment projects in petrochemical sphere were presented.

    The investments were the topic of another subject. High-rank delegates of the World and Asian Development Bank, one of the leading Qatari company Al Qamra Holding made speech at the session.

    The name of the third session is Industrialization: Look in to the Future. It was held by the Central Asia Regional Head of the European Bank for Reconstruction and Development, who focused on the role of business in this sphere. Big industrial projects initiated by Leader of the nation Gurbanguly Berdimuhamedov, which are implemented by the Union of Industrialists and Entrepreneurs of Turkmenistan, practice of Azerbaijan of legal support of business and successful model of free industrial zone on example of free industrial zone in the port of Georgian Poti have been reviewed in this section.

    Outcomes of the exchange trades held under Caspian Exhibition of Innovative Technologies have been announced in the end of business forum where 300 heads and representatives f 90 big companies, banks, associations and unions took part.

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    Certificate award ceremony took place afterwards. The Trade and Industrial Chamber of Turkmenistan has been awarded with the certificate for organization of Caspian Exhibition of Innovative Technologies and the first international motor exhibition of Turkmenistan on the territory of Turkmenbashy International Seaport. This certificate was presented by Sergey Gorsky, Deputy Executive Director of Messe Frankfurt, the global leader in organization of motor industry exhibitions.

    Awarding this certificate, we welcome the initiative of President Gurbanguly Berdimuhamedov to organize the exhibition of advanced technologies and the first motor exhibition, which is held in Turkmenbashy and supplements this forum, supporting the promotion of new technologies in industry including in car manufacturing industry, - Mr Gorsky said.

    President of the Union of Commercial Chambers and Commodity exchanges of Turkey Rifat Hisarciklyogly and the Secretary General of the Trade and Industry Chamber of the Economic Cooperation Organization Adem Kula have also presented the certificates.

    ISO Compliance certificate has been awarded to the State Commodity and Raw Material Exchange of Turkmenistan by the General Project Manager of SGS in Caspian Region Azer Mammadov.

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    After the ceremony, the briefing was given to representatives of mass media on the outcomes of the meeting of business circles. The main subjects of discussion, outcomes of available capabilities of activation of cooperation have been summed up as well as weighted and comprehensive assessment multidimensional potential of Turkmenistan has been given.

    Outcomes of the first day of work of Caspian Economic Forum has been summed up the briefing. The importance of the initiative of President Gurbanguly Berdimuhamedov on foundation of CEF, which marked the launch of new ground of the dialog of the countries of the region and their international partners where anyone can obtain full information about the dynamics and perspective plans of social and economic development the Caspian Five, exchange the views about latest world trends in different section of economy, receive direct comments on interesting questions from representatives of the Governments, profile ministries and departments, successful businessmen and leading international experts has been highlighted.

    The state news agency of Turkmenistan

  • President of Turkmenistan calls for ‘green diplomacy’ for the Caspian Sea

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