Key areas of the trade and economic cooperation between Turkmenistan and Bahrain

During the talks between President of Turkmenistan Gurbanguly Berdimuhamedov and King of Bahrain, Hamad bin Isa Al Khalifa with the participation of the official delegations of the two countries it was underlined that Turkmenistan and the Kingdom of Bahrain are the dynamically developing states with huge reserves of natural resources and favourable geographic location that opens up wide opportunities for full-scale and mutually beneficial cooperation in the trade and economic sphere.

In this regard it was emphasized the necessity to create a long-term legal base to reflect the prospects of the partnership, the bilateral mechanisms of the efficient cooperation, in particular, the intergovernmental commission on the economic cooperation.

The fuel and energy and processing capacities as well as the favourable geographic location will provide a platform for exchanging experience, implementing the ambitious projects for the delivery of energy resources to the international markets.

At present, the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline is carried out at high paces. The companies in Bahrain were invited to take part in the implementation of this project.

Such sectors of the national economy as agriculture, communications, processing and chemical industries were specified as the priority areas of cooperation. It was also proposed to consider the possibility to export textile products manufactured in Turkmenistan to Bahrain.

The banking system and urban development were also specified among the promising areas of cooperation. The delegation of Bahrain expressed the interest in the rich experience of Turkmenistan in processing agricultural products and the food industry.

Private investors and business organizations of the both countries play a key role in the trade and economic cooperation, the investment activity.

In this regard it was suggested to establish the Turkmenistan-Bahrain Business Council that will promote developing cooperation between the business circles of the two countries on a regular basis.

The possibilities of cooperation in the sphere of tourism were discussed during the meeting. Turkmenistan expressed the interest in studying and using the experience of Bahrain in creating the modern tourism systems and the sphere of services.

Particular attention was paid to the prospects of cooperation in the transport and transit sphere. In this area, Turkmenistan considers Bahrain as an important partner with huge potential for the implementation of the project on the construction of the transport corridor Central Asia Middle East.

The Turkmenbashi Sea Port opened on the Turkmen coast of the Caspian Sea in May, 2018 includes the multifunctional multimedia terminal, designed for the transport communication with the markets of the Middle East and the Indian Ocean region.

The Turkmenbashi Sea Port is to be a largest transport hub on the continent towards the East-west and North-South directions. In this regard it was underlined the possibility to develop logistic activities with the ports in Bahrain.

Source: Turkmenistan: the Golden Age Online Newspaper