Prospects of Turkmen-American Business Cooperation Discussed

The Chamber of Commerce and Industry of Turkmenistan hosted the Turkmen-American Business Forum in a "round table" format, which was attended by heads of ministries and departments of Turkmenistan, as well as a delegation of businessmen from the United States of America led by Eric Stewart, Executive Director of the Turkmen-American Business Council.

As emphasized during the forum, Turkmenistan, being interested in the implementation of the best world experience and advanced technologies, is open to effective cooperation and supports the aspiration of the American business community to strengthen its position in the Turkmen market. A favorable investment climate and an optimal organizational and legal framework for doing business have been created in Turkmenistan.

Noting the growing interest of leading American companies in expanding multifaceted cooperation, representatives of US business circles confirmed their intention to actively participate in the implementation of large-scale state programs deployed in Turkmenistan. In this context, it was emphasized that the visits of President Serdar Berdimuhamedow last year, and the visit of the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan, Hero-Arkadag Gurbanguly Berdimuhamedow to the United States of America this year, opened a new stage in the development of mutually beneficial bilateral cooperation with a view to the future.

In particular, issues relating to the activities of the Turkmen-American Business Council and its role in strengthening long-term, productive economic relations were discussed. At the same time, it was noted that the regular business meetings, forums, and exhibitions organized by this structure contribute to establishing close ties between the public and private sectors of both countries. Trade and investment activities, including the industrial complex, agriculture, and the supply of equipment for the agro-industrial complex and water management, were named among the priority areas of partnership. Cooperation in the fuel and energy, transport and communication, and construction sectors, as well as in innovative technologies, cybersecurity, healthcare, and environmental protection, also holds great prospects.

Noting the existence of opportunities to bring Turkmen-American cooperation in various economic spheres and the field of investments and high-technology implementation to a new level, and to increase mutual trade turnover, the forum participants outlined concrete plans for joint work in key areas.

The businessmen of the two countries also emphasized the importance of expanding partnership within the framework of existing structures. In this context, it was noted that the Turkmen-American Business Cooperation Association (TABCA), established in May of this year, will complement the existing platforms of interaction between Turkmenistan and the United States of America. This structure will serve as an effective platform for the development of trade and economic ties in areas of mutual interest.

Bilateral meetings between representatives of relevant ministries and departments of Turkmenistan and the American business community were also held within the framework of the forum.

The forum participants expressed confidence in the further successful development of mutually beneficial Turkmen-American cooperation, which has received a new impetus and substance in recent years.