OREANDA-NEWS. October 15, 2010. The Turkmen-Korean business forum took place in the Parahat Centre in Ashgabat. A delegation of the Republic of Korea had arrived to the Turkmen capital to take part in the forum.

The delegation included the officials of the Ministry of Knowledge Economy, the Ministry of Land, Transport and Maritime Affairs, the Ministry of Culture, Sports and Tourism, the Ministry of Foreign Affairs and Trade, the Ministry of Environment, the Korea International Trade Association and the top managers of the companies and corporations specializing in various spheres of the national economy.

Turkmenistan was represented by specialists of ministries and departments, the Academy of Sciences, the Union of Manufacturers and Entrepreneurs and the Chamber of Commerce and Industry of Turkmenistan.

At the opening ceremony it was noted that the forum as a new stage of the Turkmen-Korean business partnership was to offer a new powerful impetus to develop and enhance constructive bilateral cooperation.

In the contemporary period of the Turkmen history the intergovernmental dialogue between Turkmenistan and Korea has been brought to a qualitatively new level. President Gurbanguly Berdimuhamedov’s visit to the Republic of Korea, the success of which boosted the operation of leading business companies of the Republic of Korea on the very promising Turkmen market, offered powerful incentives to bilateral relations.

The frequent visits of Korean financial and business delegations representing world’s leaders such as Hyundai, Samsung, LG and Daewoo to Ashgabat vividly illustrated a growing interest of Korean businessmen in economic projects of Turkmenistan. In recent years, trade between the two countries has been significantly intensified. The Republic of Korea exports various kinds of high-tech industrial equipment, electrical appliances and chemical products to Turkmenistan. A number of companies with the share of Korean capital are registered in Turkmenistan.

A film about grandiose changes taking place in all spheres of life of Turkmenistan was demonstrated for forum participants. Foreign guests could learn about national development programmes launched in Turkmenistan and the economy and investment potential of the Turkmen state.

Underscoring the growing role of Turkmenistan as one of the world’s energy producers, foreign guests noted that the business circles in South Korea, in particular large companies, which were represented at the business forum in Ashgabat, were keenly interested in establishing full cooperation in the oil and gas sector, which was an essential segment of both national economies, and other priority fields including trade, ecology, construction, education, textile, transport, communications and many other sectors.

Discussing the prospects for mutually beneficial cooperation, the guests made the presentations of the potential and expertise of leading Korean companies to Turkmen partners and expressed the willingness to expand on the very promising Turkmen market, where the conditions conducive to effective investment activities were created. Turkmen specialists expressed interest in adopting advanced technologies and state-of-the-art equipment for various sectors of the national economy.

Forum participants noted that Turkmenistan, which played a key role in the region, was very rich in natural resources. The Republic of Korea, which ranked among the world’s leaders in the high technology sector, stood ready to offer its scientific and industrial developments and collaborate in implementing national development programmes in Turkmenistan and joint projects at the national and regional levels as well as assist in training high-qualified specialists that would encourage small- and medium-scale businesses.

Summing up the forum, participants said that Korean leading companies were interested in establishing close, long-term contacts with Turkmen partners and stood ready to place their profound expertise and productive potential in various fields at the service of bilateral cooperation and underscored the need for regular contacts between Turkmenistan and the Republic of Korea that would facilitate the development of an effective model of cooperation in the spirit of the times and equal and mutually beneficial partnership.