Visit of the State Minister of Saudi Arabia to Turkmenistan

Published in World
Wednesday, 11 September 2019 19:27

On September 10-11, 2019, the delegation of the Kingdom of Saudi Arabia headed by the Minister of State and Member of the Cabinet of Ministers of Saudi Arabia Emir Turki bin Mohammed bin Fahd bin Abdulaziz Al-Saud is paying a visit to Turkmenistan.

Today, on September 11 the high guest was received by President of Turkmenistan Gurbanguly Berdimuhamedov. During the talks, the parties discussed the key aspects of political, trade-economic and cultural-humanitarian cooperation between the two countries.

The opportunities for strengthening inter-parliamentary ties were considered. The parties spoke about the current issues pertaining to Turkmen-Saudi relations, including the energy, chemical industry, trade, education, culture and sport spheres. It was noted that the governments of both states attach special importance to strengthening of mutually beneficial ties between the two fraternal countries. The guest noted the key role of Turkmenistan in maintaining regional energy security and economic integration.

In the second part of the day, Emir Turki bin Mohammed bin Fahd bin Abdulaziz Al-Saud had a meeting with the Deputy Chairman of the Cabinet of Ministers, Minister of Foreign Affairs of Turkmenistan R.Meredov. During the meeting, the parties considered the opportunities of expanding the political-diplomatic dialogue, including further development of cooperation between the external policy agencies of two countries. The parties underlined the closeness of views to the current issues of modern times and expressed their hope for continuation of collaboration in the framework of respected international organizations, firstly the United Nations.

The vital role of holding the political consultations and arranging the visits of delegations of the two countries on different levels was highlighted. The parties spoke about the existence of vast opportunities for improving further cooperation in the areas of oil and gas, textile and transport.

Telephone conversation of the Minister of Foreign Affairs of Turkmenistan with the Minister of Foreign Affairs of Russia

Published in World
Tuesday, 03 September 2019 11:40

A telephone conversation of the Minister of Foreign Affairs of Turkmenistan R.O.Meredov with the Minister of Foreign Affairs of the Russian Federation S.V.Lavrov was held on the 29th of August, during which the issues of bilateral cooperation were discussed.

The parties highly appraised the outcomes of the First Caspian Economic Forum which was held in Turkmenbashy city on August11-12 of the current year. 

Also, the heads of external policy agencies of the two countries exchanged views on the preparation to the meeting of the Council of the Heads of States of the Commonwealth of Independent States to be held on October 11 in Ashgabat. 

President Gurbanguly Berdimuhamedov holds meeting with businessmen in Singapore

Published in Economics
Thursday, 29 August 2019 09:59

President of Turkmenistan Gurbanguly Berdimuhamedov, who arrived in the Republic of Singapore on a state visit, held meeting with the businessmen in Singapore. The business meeting brought together the heads of leading companies in Singapore.

Welcoming all those present, President Gurbanguly Berdimuhamedov noted that he was pleased with the opportunity to discuss the prospects of cooperation with the representatives of the Singapore business community, who expressed interest in working together with Turkmen partners.

“We heard a lot about the ‘Singaporean economic miracle’, which in a short time tranformed Singapore into one of the most developed countries in the world”, said the President of Turkmenistan, emphasizing that one of the main goals of the current - first state visit to this country was to establish and develop mutually beneficial ties in the spheres of trade and economics.

“We consider the Republic of Singapore as one of the promising trade and economic partners of Turkmenistan”, continued President Gurbanguly Berdimuhamedov. “Last year, the volume of mutual trade between the two countries amounted to 102.8 million US dollars. As of July 1, 2019, 6 investment projects with the participation of Singaporean companies and 5 enterprises with the participation of Singaporean capital have been registered in Turkmenistan.

The President of Turkmenistan expressed confidence that the agreements achieved during the first business forum would provide a platform for further productive joint work.

The exchange of views on the prospects for cooperation in the oil and gas industry and the chemical industry, the financial sector, the transport sector, agriculture and water management and other important areas took place during the meeting held at the Shangri-La hotel.

The representatives of Singapore companies and corporations, among which are the world leading manufacturers of high-tech products, presented their proposals for cooperation.

 The state news agency of Turkmenistan

The official greeting ceremony of the President of Turkmenistan in Singapore

Published in Politics
Thursday, 29 August 2019 09:57

The official ceremony of greeting President of Turkmenistan Gurbanguly Berdimuhamedov took place in the Istana Palace.

President of Singapore, Mrs. Halimah Yacob cordially greeted the distinguished guest on the square at the main entrance. The leaders of the two countries exchanged the mutual greetings.

The commander of the Guard of Honour reported to the leaders of the two states and the national anthems of Turkmenistan and the Republic of Singapore were sounded.

President Gurbanguly Berdimuhamedov and President Halimah Yacob bypassed the Guard of Honour, paying tribute to the State Flag of the Republic of Singapore.

The heads of two states proceeded to the Istana Palace, where in the lobby, the Turkmen leader left a memorable entry in the Book of the Guests of Honour.

The members of the official delegation of Singapore were introduced to the President of Turkmenistan, and the members of the government delegation of Turkmenistan were introduced to the President of the Republic of Singapore.

After the traditional ceremony of photographing, the leaders of the two countries headed to the Conference Hall, where the meeting of the government delegations of Turkmenistan and Singapore, led by President Gurbanguly Berdimuhamedov and President Halimah Yacob, took place.

The state news agency of Turkmenistan

Investment potential of oil and gas complex of Turkmenistan is presented in Singapore

Published in Economics
Thursday, 29 August 2019 09:50

Cooperation in oil and gas industry of our country was one of the main subjects of Turkmen – Singapore business forum. It was mentioned that President Gurbanguly Berdimuhamedov initiated number of major projects in this sphere, most of which are important not only of for further reveal of economic potential of this sector of Turkmen economy but also play big role in strengthening of global energy security.

Using slide show, achievements of oil and gas complex of Turkmenistan, its structure, main divisions and facilities, which develops hydrocarbon deposits, produce, process and transport oil and natural gas, sale gas and its production both in local and foreign markets, have been demonstrated to the hosts of the forum.

Development of oil and gas reserves of Turkmen part of Caspian Sea is one of priority directions of investments to oil and gas industry. Based on the Production Sharing Agreement with foreign companies, four such project in Caspian offshore and three onshore projects are implemented in our country.

Status of Turkmenistan as one of the leading energy power in the world was proven by the estimation of reserves and resources of natural gas at Galkynysh deposit, which is the second biggest in the word. It has also been proven by independent British company Gaffney, Cline & Associates. After discovery of super giant Galkynysh deposit and number of other big gas fields, Turkmenistan is confidently on the fourth place by proven gas reserves among oil and gas countries.

This is Galkynysh, which will serve as the main source of supply for future export pipelines. As for today, industrial facilities with production output of 30 billion cubic meters of sale gas per year have been put into operation in this place.

Singapore businessmen have also appreciated innovative character of big investment projects, which was accomplished recently in Turkmenistan. It includes the construction of Kiyanly Polymeric Plant, which was put into operation in October, 2018. It was built by the consortium of the companies from the Republic of Korea - LG International Corporation and Hyundai Engineering and Japanese Toyo Engineering Corporation. Total cost of the project is 3,423,000,000 US dollars. Production output of the facility is 386,000 tons of polyethylene and 81,000 tons of polypropylene per year.

Unique Gas-to gasoline, the GTG, which was applied in petrochemical complex in Ahal Velayat that was put into operation in June 2019, raised keen interest. Built by Japanese Kawasaki Heavy Industries and Turkish Rönesans Endüstri Tesisleri, it is designated for production of 600,000 tons of EURO-5 synthetic eco-friendly gasoline per year.

Regarding perspective plans of Turkmen fuel and energy complex, first, the project of transnational Turkmenistan – Afghanistan – Pakistan – India (TAPI) gas line, which total length in 1,840 km with throughput capacity of 33 billion cubic meter per year, has been presented to Singapore audience. It will provide such big dynamically developing economies like Indian and Pakistani with fuel. In future, it will give an opportunity to enter other growing markets is Asian Pacific region.

At present time, Turkmenistan actively works on new directions in petrochemical industry, which will allow the country taking deserving place in the market of petrochemical production with high added value. These are plastic, synthetic fibre, oversized organic products, synthetic washing liquids, surfactants and other.

It was informed that it is planned to start several projects for opening of petrochemical complexes – two in Kiyaanly, Balkan Velayat and one in Yilanly, Dashoguz Velayat and one in Seydi, Lebap Velayat, soon.

Regarding future cooperation with Singapore, service contracts on the projects in mining, construction, oil, gas and chemical industry as well as opening of joint service companies for service and repair of gas turbines, compressor and pump equipment are signed.

Companies from Singapore have also been invited to participate in construction of transnational TAPI gas line and other fuel and energy complex projects. In this regard, the management of these companies has been familiarized with Turkmen legislation in this sphere, which guarantees reliable legal protection of investors and their capital.

Investment policy of Turkmenistan, which is oriented by President Gurbanguly Berdimuhamedov to provision of high rates and efficiency of the economy, was a separate theme of business forum.

The State Bank of Foreign Economic Affairs of Turkmenistan, which is the biggest bank in terms of assets and clear profit in 2018, plays big role in realization of investment policy and attraction of foreign capital to the economy of the country.

Investors from Singapore was informed that structure of credit portfolio of the Bank look like following – oil and gas industry – 61 percent, chemical industry – 24 percent, agriculture – 7 percent, transport and telecommunication sector – 5 percent, other section of the economy – 3 percent together.

Biggest part of the investments in total volume of foreign capitals sent to implementation of important projects in Turkmenistan belong to Japan – 57 percent. The Republic of Korea is on the second place with 31 percent. It is followed by Germany, China and USA.

It is important to note that the Bank has signed five agreements with foreign financial organizations to total amount of 575 million US dollars during first Caspian Economic Forum, which was held in Avaza on August 11 – 12, 2019. This money will be send to financing of the projects of small and medium enterprises of private section of the economy of Turkmenistan.

The Bank plans to develop cooperation with financial institutes of Singapore in such directions as correspondent relations, trade financing and documentary business, project financing and investments. There is also an interest in training and seminars in banking and finance sphere.

Special attention will be paid to joint financing of the projects implemented in priority sections of Turkmenistan economy with participation of companies from Singapore. Projects in oil and gas, petrochemical, chemical industries, projects of development of transport and telecommunication infrastructure seem to be the most promising.

Executive Director of DBS Bank Ltd Sarah Chompaisal spoke of the vision of investment and financial cooperation by Singapore side at business forum. She has also presented the mission of the Bank, which is the biggest one in Southeast Asia by assets. It was awarded with the Best Bank of the World title in 2019 by Euromoney version for implementation of digital technologies. It was also awarded with titles of the Global Bank of the Year from the Banker and the Best World bank from Global Finance in 2018.

 The state news agency of Turkmenistan

Turkmenistan and Singapore interested in joint projects of chemical industry

Published in Economics
Thursday, 29 August 2019 09:39

It was noted during Turkmen – Singapore business forum that availability of rich natural resources, favourable geographic location as well as foreign economic open door policy provide investment attractiveness of Turkmenistan.

Chemical industry of Turkmenistan, which development perspectives have been presented to Singapore business community, is one of current directions for foreign investments.

At present time, the State Concern Türkmenhimiýa includes 11 industrial facilities, which form the base of chemical industry of the country. Implementation of efficient, energy and resource saving technologies based on latest scientific and technical developments are among the utmost objectives of development of the industry.

It was noted during the presentation of the capabilities of the branch that special attention is paid to expansion of production of mineral fertilizers, which is related to the availability of material base, high capacity of local market in this type of production, enhancement of efficiency of agricultural production.

For the last 10 years, total volume of mineral fertilizer production capacities of the country has grown by more than 3 times. New ammonia and carbamide complexes in Mary and Garabogaz, biggest in Central Asian region Garlyk Potassium Ore Mining Complex, hydrochloric acid production workshop in Turkmenabat Chemical Plant have been built for this period. Financial investments were more than 3.3 billion US dollars during realization of these projects. Leading companies from Japan, USA and European Union were the partners of our country in these projects.

Soon, it is planned to implement number of new perspective investment projects. It includes the construction of the plants for production of iodine, bromine and their derivatives, new facility for production of phosphorus fertilizers under Turkmenabat Chemical Plant, installation for production of mixed (N, P, K) fertilizers, petrochemical complex for production of mineral fertilizers and chemical production in Mary and many other.

Production of high liquid chemicals for local market and export is economically profitable for all participants of similar projects. Availability of modern transport infrastructure and its integration to international transport system including big seaports will allow solving the problems of export of multi-tonnage chemical production in different directions.

This subject was supported by Director of Indorama Corporation Pte. Ltd Prakash Keirival in his speech. The company based in Singapore is one of the leading chemical holdings in Asia, which make numerous production including polyethylene, nitrate and phosphate fertilizers, polyether and polyether materials, textile and medical gloves. It manages more than 70 production facilities in more than 30 countries and has more than 30,000 personnel all over the world.

The state news agency of Turkmenistan

Turkmenistan presents exhibition of export goods in Singapore

Published in World
Thursday, 29 August 2019 09:35

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

Singapore willing to be the place for promotion of Turkmenistan export goods in Southeast Asia

Published in Economics
Thursday, 29 August 2019 09:30

Economic situation in Turkmenistan, its investment potential, reforms aimed at industrial and innovative development of the country, implementation of achievements of science, technics and latest technologies, transfer to digital economy have been introduced to business community of Singapore at bilateral business forum in this country.

In particular, the following figures have been given: the growth rate of the GDP in Turkmenistan was 6.2 percent by the outcomes of 2018 while this indicator is equal to 6.3 percent by the outcomes of the first half of 2019. Annual volume of investments to economy exceeds 30 percent of the GDP. Share of foreign investment is 13 percent. The volume of investments to the country was equal to 11.5 billion US dollars in 2018, 64 percent of which were used for production sphere.

Regarding the opportunity of development between Turkmenistan and Singapore, such directions as fuel and energy complex, chemical industry, agriculture, food industry, transport, logistics and tourism seem to be the most perspective.

Each of these directions have received sufficient characteristics in the aspect of economic potential of Turkmenistan and realization of big projects with participation of foreign investors and companies. The officials of these directions spoke in detail about the main branches.

Before the start of the forum, the State Minister of Trade and Industry of the Republic of Singapore Koh Poh Koon addressed the guest from Turkmenistan with welcoming speech. He highlighted the significance of current meeting, which presented good opportunity to exchange the views on capabilities and perspectives of bilateral cooperation in economic sphere.

Koh Poh Koon noted that several Turkmen delegations have visited Singapore this year including the delegations of the Foreign Ministry, the State Bank of Foreign Economic Affairs, Ministry of Justice, having expressed hope that these political events would be placed in commercial plan.

Current forum will also be a platform for study of commercially important partnership capabilities, the State Minister of Trade and Industry said, having noted that there is a potential to increase the trade between our countries. He urged Singapore companies to treat this potential seriously.

In the meantime, there is beginnings between companies and organizations in Singapore and Turkmenistan. Singapore companies already study the capabilities of cooperation in chemical sphere as well as in the sphere of private education. For example, it was mentioned that Singapore Indorama and the State Concern Turkmenhimiya have already started the talks in 2018 and plan to sign the Memorandum of Understanding on this project. Several other documents are also ready to be signed.

Koh Poh Koon have also called upon Turkmen delegates of the forum to consider Singapore as its partner in Southeast Asia. Singapore is located in the centre of this region and has good relations with neighbouring countries.

- Singapore may become a springboard for Turkmenistan to enter Southeast Asian market where huge opportunities for business communities are presented. Turkmen companies, which are willing to have an access to this market would be able to open their representative offices in Singapore, Koh Poh Koon said. – We are global trade and financial centre and have success to unique human capital. Also, Singapore has strong network of business relations in Southeast Asia and is one of the top 3 investors in Indonesia, Myanmar, Thailand and Vietnam.

The state news agency of Turkmenistan

State visit of the President of Turkmenistan to the Republic of Singapore

Published in World
Thursday, 29 August 2019 09:26

President of Turkmenistan Gurbanguly Berdimuhamedov arrived in Singapore with a state visit. The Guard of Honour welcomed the President of Turkmenistan in the Changi International Airport, decorated with the state flags of the two countries. The high ranking officials of the friendly country as well as the members of the government delegation of Turkmenistan greeted the Turkmen leader.

From the airport, the Turkmen leader’s motor cortege headed to the residence of President Gurbanguly Berdimuhamedov in the Shangri-La Hotel.

The top-level talks between President of Turkmenistan Gurbanguly Berdimuhamedov and President of the Republic of Singapore Halimah Yacob on August 27 will focus on the priority aspects of the intergovernmental relations.

Successively implementing the foreign-policy strategy based on the principles of positive neutrality, peacefulness and constructive cooperation, Turkmenistan aims at the further development of fruitful collaboration with all interested foreign partners, including the countries of Asia and the Pacific.

Taking into account the course towards the innovative development and industrialization of the national economy, the introduction of advanced high technology, increase of investment activity, great opportunities are opening up for establishing productive ties with the Republic of Singapore, one of the developed countries in the world.

On the instruction of President Gurbanguly Berdimuhamedov, the day before the top-level talks, the members of the government delegation of our country held a number of meetings with businessmen in Singapore to exchange views on the possible measures and steps, aimed at developing cooperation in various spheres.

The state visit of the President of Turkmenistan to the Republic of Singapore, on the outcomes of which it is planned to sign a number of bilateral documents, will definitely offer a powerful impetus to the fruitful cooperation between the two countries on a wide spectrum of spheres and will fill the interstate relations with new content.

The state news agency of Turkmenistan

Turkmen-Uzbek political consultations were held in Ashgabat

Published in Politics
Saturday, 17 August 2019 12:10

On August 16, 2019, Turkmen-Uzbek political consultations took place in the Ministry of Foreign Affairs of Turkmenistan.  The delegations were headed by the Minister of Foreign Affairs of Turkmenistan R.Meredov and the Minister of Foreign Affairs the Republic of Uzbekistan A.Kamilov.

During the talks, the parties noted the positive dynamics of the development of multilateral ties between the two fraternal countries.  The diplomats considered the issues of bilateral cooperation in political, trade-economic and cultural-humanitarian spheres.  The importance of organizing the mutual visits on the high and highest level which makes a vital contribution in the process of developing Turkmen-Uzbek dialogue was noted.    

The parties considered the opportunities of further strengthening of collaboration in the framework of regional and international organizations, particularly the UN and the OSCE.  The active work of the countries aimed at the implementation of the Agenda 2030 was noted which positively affects the economic and social stability of two countries.          

Speaking about the common historic roots, the Minister of Foreign Affairs of Uzbekistan A.Kamilov specifically underlined the significance of the “open door” policy of Turkmenistan based on the principles of good-neighborhood and mutual respect, as well as contributes to maintaining of security and prosperity in the whole Central Asian region.   

During the talks, the parties stated the necessity of widening cooperation in the sphere of water and land resources.  Also, the opportunities of exchanging visits on different levels with the aim of getting acquainted with the potential of two countries in the area of engineering, education and tourism were considered.      

Upon the outcomes of the political consultations, the parties signed the Program of cooperation for 2020-2021 between the Ministry of Foreign Affairs of Turkmenistan and the Ministry of Foreign Affairs of the Republic of Uzbekistan.   

Page 1 of 11

Business News

The capital budget proposed 1 800 000 will be saved

The capital budget proposed 1 800 000 will be saved

City government 2015 budget amendments. It was presented by Mayor David Narmania said the budget ame...

Railway station to be opened in Batumi

Railway station to be opened in Batumi

Construction of a railway station started many years ago but terminated shortly after will come to a...

Prime Minister meets with businesspersons in Kakheti

Prime Minister meets with businesspersons in Kakheti

Georgia’s Prime Minister Irakli Gharibashvili visited eastern Kakheti region within the framework of...

The Official Value of Dollar – 2.2533 GELS

The Official Value of Dollar – 2.2533 GELS

The official value of US Dollar reached 2.2533 GEL (Lari). National Bank of Georgia set the official...

MOST READ

« September 2019 »
Mon Tue Wed Thu Fri Sat Sun
            1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30            

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media