Meeting with the Minister of Trade, Industry and Energy of the Republic of Korea

On April 18, 2025, a high-level meeting was held at the Four Seasons Hotel in Seoul between the Government delegation of Turkmenistan, led by Deputy Chairman of the Cabinet of Ministers Mr. B. Annamammedov, and the Minister of Trade, Industry and Energy of the Republic of Korea, Mr. Ahn Duk-geun. The meeting was also attended by Mr. Kim Bo-hyun, President and CEO of Daewoo Engineering & Construction.

At the beginning of the meeting, parties exchanged warm greetings and highly praised the steadily developing friendly relations between Turkmenistan and the Republic of Korea in recent years. Following this, a signing ceremony took place for a Framework Agreement between the State Concern “Türkmenhimiýa” and Daewoo Engineering & Construction regarding the design, full construction, and commissioning of a state-of-the-art mineral fertilizer production complex to be built within a new chemical plant in the city of Türkmenabat.

The parties emphasized that the signing of this agreement marks the beginning of a new phase in Turkmen–Korean economic relations.

During the subsequent discussions, the two sides conducted an in-depth review of the current state and future prospects of economic cooperation. The Turkmen side provided detailed information on the national economic policies put forward by the honorable President of Turkmenistan aimed at increasing the production and export potential of the national economy, as well as the implementation of large-scale projects to produce high-quality mineral fertilizers that are in high demand in international markets.

Moreover, the Turkmen side underlined the importance of expanding partnerships in the chemical industry in cooperation with foreign companies, expressing confidence that the successful implementation of this project would significantly enhance Turkmenistan’s international export capacity in the production of mineral fertilizers.

Mr. Ahn Duk-geun commended Turkmenistan’s decision to choose the Republic of Korea as a strategic economic partner for this project. He stressed that the construction of the new chemical complex would not only boost Turkmenistan’s economy but also contribute meaningfully to the development of the chemical industry in the entire Central Asian region.

Mr. Kim Bo-hyun, President and CEO of Daewoo Engineering & Construction, expressed his sincere gratitude for the trust placed in his company and assured that the project would be implemented with the highest standards of quality. He also emphasized that all technical and organizational aspects of the construction would be carried out at an exceptional level.

At the meeting sides acknowledged the important role of the Intergovernmental Turkmen-Korean Commission for trade, economic, scientific and technological cooperation in advancing bilateral relations. The parties also exchanged views on preparations for the next session of the Commission, which is planned to be held in Turkmenistan at a high organizational level.