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Turkmenistan, Bahrain to hold joint business forum

21 November 2019 [12:49] - TODAY.AZ

By Trend

Turkmenistan-Bahrain Business Forum will be held in Manama (Bahrain) on Nov. 26-28, 2019, Trend reports citing Business Turkmenistan.

A Turkmen delegation consisting of representatives of Turkmenistan's ministries, sectoral departments, as well as the Union of Industrialists and Entrepreneurs will visit the Kingdom of Bahrain on Nov. 25-29 to participate in the forum.

The delegation will include representatives of the Turkmenistan's Ministry of Foreign Affairs, Ministry of Trade and Foreign Economic Relations, Ministry of Finance and Economy, Ministry of Industry and Communication, Ministry of Textiles, Ministry of Agriculture and Environmental Protection, Turkmengaz (Turkmengas), Turkmennebit (Turkmenoil) and Turkmenhimiya (Turkmenchemistry) state concerns, Turkmen State Bank for Foreign Economic Affairs, the Chamber of Commerce and Industry, and the Union of Industrialists and Entrepreneurs.

Diplomatic relations between the two countries were established in December 1995.

At present, the sides discuss joint projects in the investment, banking, oil and gas and chemical industries. Bahrain’s financial-industrial groups were offered to begin to create joint ventures in leading industries based on mutual investments. Bahrain’s companies were invited to participate in the project for the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI), the construction of which began in 2015.

Moreover, the sides concluded intergovernmental memorandums of understanding on cooperation in the field of transport, e-government, as well as memorandums between the Central Banks of the two countries.

Among the Arab countries, the UAE is more actively operating in the Turkmen market especially in the fuel and energy sector. Dragon Oil company extracts hydrocarbons in the Turkmen sector of the Caspian Sea. Petrofac, leading international service provider to the oil and gas production and processing industry, took part in the industrial development of Galkynysh, the second biggest gas field in the world. Saudi Arabia has also intensified its activity in Turkmenistan.


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