Turkmen President Serdar Berdimuhamedow and Turkish Trade Minister Omer Bolat met in Ashgabat to discuss advancing bilateral cooperation and enhancing trade ties between their two countries. The focus of the discussions was on increasing mutual trade to $5bn and reviewing ongoing projects, as per Caspian news.
Bolat highlighted the importance of updating the agreement on mutual promotion and protection of investments and touched upon the Turkish companies' active role in Turkmenistan.
“We discussed the steps that the sides could take to achieve $5bn worth of mutual trade, updating agreements on investments, and exploring new areas of collaboration,” Bolat said.
Bolat was in Ashgabat to participate in the Turkish Export Products Fair.
The fair, which featured numerous Turkish exporting companies, underscored Türkiye's commitment to deepening its partnership with Turkmenistan. Bolat reaffirmed Türkiye's resolve to diversify and strengthen ties with the "friendly and brotherly" country.
President Berdimuhamedow emphasized the importance of the exhibition, noting its role in bolstering trade and economic relations. He expressed confidence that such events would further elevate bilateral business ties while promoting innovation and technological advancements in various sectors.
"Turkmenistan is ready to enhance bilateral cooperation and is open to considering specific proposals in areas of mutual interest," Berdimuhamedow stated.
He stressed the need for continuous improvements to the economy through international collaboration and the integration of new technologies.
Energy cooperation is also a central theme in the growing Turkmen-Turkish partnership. Türkiye has been seeking a prominent role in the transportation of Turkmen natural gas to European markets, as the EU seeks alternatives to Russian gas. Türkiye’s recent agreements with Azerbaijan and Turkmenistan aim to establish the country as a central energy hub.
In March, Türkiye and Turkmenistan signed a memorandum of understanding on cooperation in natural gas and hydrocarbons. A key aspect of this collaboration involves the transportation of Turkmenistan’s natural gas to Türkiye via Azerbaijan and Georgia, with plans for expanding capacity to supply European markets.
The initial phase of the deal aims to transport 2bn cubic meters (bcm) of Turkmen gas, with the long-term goal of reaching 15 bcm annually over the next two decades. Türkiye currently imports around 60-70 bcm of natural gas annually from Russia, Azerbaijan, and Iran, and is now diversifying its energy sources with LNG imports.
In addition to gas transportation, Turkmenistan is advancing plans to export electricity to Türkiye and beyond. President Berdimuhamedow revealed that Turkmenistan is constructing a combined power station along the Caspian Sea, which will facilitate electricity exports.
The two nations continue to support the construction of a Caspian pipeline to link Turkmenistan and Azerbaijan, despite opposition from Russia. The proposed pipeline project, which has been championed by Türkiye since 2022, aims to connect Turkmenistan’s natural resources to global energy markets.
Türkiye's role in the Southern Gas Corridor (SGC) is pivotal. The Trans-Anatolian Pipeline (TANAP), which stretches 1,850 kilometers, forms the backbone of this corridor, bringing gas from Azerbaijan to Türkiye and Europe. The SGC also includes the South Caucasus Pipeline (SCP) and the Trans-Adriatic Pipeline (TAP), which connect Azerbaijan, Georgia, Türkiye, Greece, Albania, and Italy.
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