UAE and Turkmenistan review enhancing bilateral relations

Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has left the UAE on a working visit to Turkmenistan. Dr Al Jaber headed a delegation comprising Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE); Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD); and a number of officials from the government and private sectors.

Ahmed Al Hay Al Hameli, UAE Ambassador to Turkmenistan, accompanied the Emirati delegation.

During the visit, Dr Al Jaber met with Serdar Berdimuhamedov, President of Turkmenistan, and conveyed to him the greetings of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and his wishes for the leadership and people of Turkmenistan for further progress and prosperity.

He also conveyed the greetings of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court.

For his part, President Berdimuhamedov conveyed his greetings and best wishes to the leadership and people of the UAE, affirming his keenness to develop bilateral relations in all sectors for the benefit of the two friendly countries.

During the meetings, the delegation discussed ways to develop bilateral relations and enhance cooperation in the fields of oil, gas, clean energy, infrastructure, the banking sector, and opportunities for sustainable joint investments.

The delegation also reviewed the UAE’s readiness to host the 28th United Nations Climate Change Conference of the Parties (COP28) in 2023, and ways of intensifying action to ensure energy security and support progress in climate action, as well as sustainable economic and social development.

The agenda of the visit included several meetings with top Turkmen officials.

This visit, which included a series of meetings with senior officials from Turkmenistan, comes within the framework of the keenness of the two countries’ leaderships to develop bilateral relations in the various economic, investment, cultural and tourism sectors, and to follow up on the outcomes of the visit of the Turkmen President to the UAE in November of this year, which witnessed the signing of a number of agreements and Memoranda of Understandings between the two countries across various fields.

Last month, as part of his participation at the UAE-Turkmenistan Business Forum, Serdar Berdimuhamedov, President of Turkmenistan, praised the economic ties between Turkmenistan and the United Arab Emirates.

President Berdimuhamedov stressed his country’s focus on exploring opportunities for economic cooperation in different industries, including energy, trade, and green energy. He highlighted Turkmenistan’s interest in increasing trade exchange with the UAE, given its strategic location, outstanding relations with different countries across the world, and its qualified workforce.

The Abu Dhabi Chamber of Commerce and Industry, in cooperation with the Ministry of Foreign Affairs and International Cooperation, the Embassy of Turkmenistan, and the Abu Dhabi Department of Economic Development (ADDED), organised the UAE-Turkmenistan Business Forum. The Forum, which was held in Abu Dhabi, discussed opportunities for new economic partnerships for the business communities in the two countries.

The Forum covered key topics, including increasing trade exchange, attracting investment, and exploring new opportunities of collaboration. Different parties also discussed major opportunities and trends, and the two countries’ active and prosperous business environments that attract foreign direct investments.

The forum witnessed the signing of a number of agreements aimed at enhancing cooperation between the UAE and Turkmenistan in a number of vital sectors. These include a non-disclosure agreement between the Agency for transport and Communications under the Cabinet of Ministers of Turkmenistan and Abu Dhabi Ports Company PJSC; a joint development agreement between Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan and Abu Dhabi Future Energy Company PJSC – Masdar; and a cooperation agreement between the State Bank for Foreign Economic Affairs of Turkmenistan and First Abu Dhabi Bank.

During the Forum, a number of officials from the two countries gave presentations on the most important investment opportunities and reviewed the economic landscape in both countries.

 Masdar to develop a 100 megawatt (MWac) solar photovoltaic (PV) plant, which will be the company’s first project in Turkmenistan.

The agreement builds on a Memorandum of Understanding (MoU) signed between Masdar and the Turkmenistan government in October 2021 to explore the development of and investment in solar and wind power projects in Turkmenistan on a public-private partnership (PPP) basis.