S. Berdimuhamedov became interested in the system of stock exchanges and credit organizations in the UAE

On November 21-22, President Serdar Berdimuhamedov paid an official visit to the UAE. On the first day of the visit, the head of state held talks with the country’s president, vice-premier and his deputy.


On the second day of the visit, Serdar Berdimuhamedov took part in the opening ceremony of the business forum “Turkmenistan-UAE”, the State News Agency TDH reports .


In his welcoming speech, as well as during negotiations with officials, the head of state spoke about the importance of the seaport in Turkmenbashi, which “in its current state is one of the largest transport centers of international importance in the East-West and North-South directions.” It should be noted that both the president and his father Gurbanguly Berdimuhamedov , since the opening of the sea harbor in 2018, regularly give instructions to officials to bring it to full capacity.



Berdimuhamedov Jr. also recalls that the Abu Dhabi Development Fund finances the construction of an airport in the city of Jebel, Balkan velayat, a chemical plant for the production of mineral fertilizers in the city of Turkmenabat, Lebap velayat, and a hybrid power plant in Serdar etrap, Balkan velayat. For this, in 2021, the Fund issued loans to Turkmenistan in the total amount of $275 million.


Since the UAE is one of the largest financial centers in the world, the President showed “great interest in the successful experience of the functioning of the UAE financial system, financial institutions, insurance companies and stock exchanges.”


“We look forward to cooperation between the Vnesheconombank of Turkmenistan and the Dubai Center for the Development of the Islamic Economy,” the head of state said.


Serdar Berdimuhamedov said that within the framework of the partnership between the Abu Dhabi Development Fund and Vnesheconombank , the T ürkmen ma ýa go ýum kompani ýasy Joint Stock Company has been established in Turkmenistan , which has already begun to consider and select investment projects for their further financing .



As part of the business forum, the following were signed:


  • Confidentiality Agreement between the Transport and Communications Agency and the Abu Dhabi Port Group;


  • Agreement between the State Corporation “Turkmenenergo” and Abu Dhabi Future Energy Company – Masdar on cooperation in the development of renewable energy projects in Turkmenistan with a total installed capacity of 100 MWt;


  • Agreement on cooperation between Vnesheconombank and First Bank of Abu Dhabi.


In addition, the companies of the two countries signed contracts for the provision of logistics services and various export-import operations, TDH notes.


After the forum, Serdar Berdimuhamedov visited the Wahat Al Karama Memorial Complex, built in honor of the national heroes of the UAE, where he was presented with a commemorative coin depicting the memorial complex. The President then visited the Sheikh Zayed Mosque, where he was presented with books about the mosque.



Source: Chronicles of Turkmenistan