A proposal was put forward to establish a Business Cooperation Council of the Caspian countries

Published in World
Thursday, 30 June 2022 14:36

International business, financial institutions are attentive and interested in the Caspian region, understand its potential and geo-economic value, President of Turkmenistan Serdar Berdimuhamedov noted at the IV Caspian Summit, which brought together leaders of coastal states in Ashgabat on Wednesday.

There is every opportunity to provide good conditions for entrepreneurship, free it from obsolete barriers and obstacles and make the Caspian attractive for serious and long-term investments, the Turkmen leader believes. Speaking about the transport significance of the Caspian Sea, the head of state expressed the opinion that it is possible to set an ambitious but realistic goal of turning it into an integral part of the revival of the Great Silk Road.

Serdar Berdimuhamedov also touched upon the issue of industrial cooperation between the Caspian countries, which have vast natural resources, industrial and technological potential. Their unification, creation of partnership production lines, integration corridors is a hot topic of cooperation. And private business is called upon to play an important role in this. In this regard, a proposal was put forward to establish the Business Cooperation Council of the Caspian countries as an independent platform, that is, without state interference.

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    It is recognized that the countries of the Caspian region and all the stakeholders, including the private sector, associations and academic circles can maintain active dialogue on the issues of leading practice and measures related to the implementation of goals for ensuring development of economic contacts;

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    1. Take the necessary steps for the enhancement of attractiveness of the Caspian littoral states’ economies with the aim of further active integration of the Caspian region in the international economic space.
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  • 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.

    256 transactions to total amount of 380,179,000 US dollars have been registered at the trades. For foreign currency, brokers from Russia, Turkey, Great Britain, Luxemburg, United Arab Emirates, USA, Singapore, Hong Kong and Afghanistan have bought hydro-treated diesel fuel, A-80 gasoline, L – 0.2 – 63 and L – 0,5 – 62 diesel fuel, TC1 jet fuel, total petroleum coke, ECO – 5 hydro-treated diesel fuel produced by Turkmenbashy Refinery complex as well as ECO-93 gasoline and liquefied of the State Concern Turkmengaz. B-type carbamide and technical iodine produced by the State Concern Turkmenhimiya were the subjects of foreign currency transactions.

    In addition, cotton yarn and fibre, Portland cement and glass were sold for foreign currency to Russian Federation, UAE, Turkey and Uzbekistan.

    For local market, Turkmen entrepreneurs have bought polypropylene and polyethylene to total amount of 43 million manats.

    It has been mentioned in the final speech that Turkmenistan has demonstrated again the willingness to start real cooperation in specific strategic directions with Caspian states and with the countries of other regions.

    Document signing ceremony, which set out the agreements reached during the meetings and session in the fields of the CEF 2019 was held afterwards. In general, 57 international documents, which are related to cooperation in such spheres as international technologies, investment cooperation, trade and economic and financial sphere, diplomacy, transport, power energy, light industry, agriculture and water management, sport and other areas.

    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.

    It was mentioned that this certificate is awarded by the results of big work made by the Exchange after the audit and inspection by SGS and is high marks of the final result.

    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

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