OREANDA-NEWS. February 03, 2010. The International Investment Forum and the Commodity Exhibition of Turkmenistan opened in the capital of the United Arab Emirates on February 1. The forum is organized by the Chamber of Commerce and Industry of Turkmenistan together with the sectoral ministries and departments. The co-organizer is the Arab companies Dragon Oil and Petrofac.

The cabinet ministers of Turkmenistan and the United Arab Emirates, the high-ranking officials of the ministries and departments of Turkmenistan, the khyakimliks of Ashgabat and velayats, the representatives of the public organisations – the members of the Galkynysh National Movement and the private sector, in particular the Union of Manufacturers and Entrepreneurs of Turkmenistan, participated in the forum opening ceremony at the Centre of the Abu Dhabi National Exhibition Company (ADNEC).

The International Investment Forum of Turkmenistan brought together over 300 participants from dozens of countries worldwide representing the authoritative international organisations, banks and large companies, many of which are included in the world sustainable development rating. The journalists of the world’s leading news agencies arrived to Abu Dhabi to take part in the meeting that had drawn a wide response in electronic media. Such a reputable representation at the forum vividly illustrates the high international prestige of independent neutral Turkmenistan.

In his welcoming statement President of Turkmenistan Gurbanguly Berdimuhamedov congratulated on opening the forum and wished the successful work to participants of the Investment Forum and the Commodity Exhibition of Turkmenistan. The Turkmen leader said that the forum by its idea and significance was particularly illustrative for it demonstrated that Turkmenistan had reached new heights of progress, and undoubtedly it would give new incentives to intensify business cooperation between different countries. The Turkmen leader expressed belief that the Commodity Exhibition of Turkmenistan would be of particular importance for dynamic development of trade and economic relations.

The main tasks of the investment forum include the development of trade and economic relations between Turkmenistan and the United Arab Emirates, attraction investments in the national economy and promotion of Turkmenistan’s economic achievements worldwide.

One of the central events of the first day of the International Investment Forum was the Commodity Exhibition of Turkmenistan. Before the plenary sessions the forum participants visited the large-scale exposition that showcased the achievements and export potential of the leading sectors of Turkmen economy. The exposition had aroused keen interest among the people and guests of the Arab capital. The visitors could read the exhibition announcements in different languages on the banners installed on the streets of Abu Dhabi.

The exposition presented a wide range of high-technology products of petrochemical and agricultural sectors, information technologies, construction, building materials and mineral fertilizers industries, and tourism, which had good prospects for the large-scale project on creation of the Avaza national tourism zone on the eastern coast of the Caspian Sea launched in Turkmenistan.

The pavilions of textile industry and carpet weaving presenting a wide range of high-quality knitted and terry goods made from cotton, jeans and gray cotton fabric and handmade wool and silk carpets were of particular interest to the visitors.

The plenary sessions were conducted on the first day. The report presented at the opening ceremony provided an overview of the trends in Turkmenistan’s economic development for the previous year and the progress in Turkmenistan’s integration in the world economy on a mutually advantageous basis and in compliance with the national priorities. The report emphasized that the tasks set to the national economy dictated the need to diversify development of all sectors, the potential of which was enhanced through the invaluable assistance of foreign partners, and our country was always open for equal mutually advantageous cooperation that was vividly illustrated by active contribution of foreign firms and companies to implementing hundreds of projects in the country.

The documentary film about the high growth rates of Turkmen economy and substantial effectiveness of the ongoing economic and financial reforms in the country became an illustration of the report.

The high-ranking officials of the sectoral ministries and departments of Turkmenistan presented the reports on the investment and export potential of the textile, oil and gas, chemical, petrochemical and power industries, telecommunications and information technology sectors during the plenary session, which turned into the businesslike, constructive exchange of views from the start. The overview of the ongoing large-scale international projects in Turkmenistan including the Turkmenistan-China gas pipeline and the second branch of the Turkmenistan-Iran gas pipeline recently put into operation and the draft projects of the Caspian gas pipeline (Turkmenistan-Kazakhstan-Russia) and the TAPI gas pipeline (Turkmenistan-Afghanistan-Pakistan-India) was presented. 

The partners’ keen interest in active cooperation with Turkmenistan was expressed in the presentations made by the foreign participants – President and CEO of the Islamic corporation for the Development of the private sector Khaled Al-Abodi, General Manager of Sumitomo-Mitsui Banking Corporation Denis Deripasko, Eurasia Capital CEO Alisher Ali Jumanov, Head of Representation of OMV Gas & Power GmbH in Caspian Region Wolfgang Sporrer, Mubadala Oil and Gas Deputy CEO and Senior Vice-President of Mohammed Suhaid Al-Mazrui and others.

The idea that Turkmenistan’s huge natural resources and favourable geographic location laid the firm foundation for large-scale cooperation run all through most of the reports. The successful implementation of the large-scale investment projects offering powerful incentive to develop the national economy for many years ahead enabled to increase the economic growth rates as well as played a key role in fostering social and economic development of the neighbouring countries and led to common wellbeing.

The discussion of the further ways to establish mutually advantageous relations was continued during the meetings of the cabinet ministers of Turkmenistan with the high-ranking officials and businessmen of the UAE, who analyzed the parameters of promising long-term partnership.