Turkmenistan, Azerbaijan discuss creation of joint business council

Fri 13 Sep 2019 18:09 GMT | 22:09 Local Time

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Ashgabat has hosted the fifth meeting of the intergovernmental Turkmen-Azerbaijani commission on economic cooperation, Trend reports with reference to Turkmen Foreign Ministry.

The meeting was headed by Deputy Prime Minister of Turkmenistan Purli Agamyradov from the Turkmen side and by First Deputy Prime Minister of Azerbaijan Yagub Eyyubov from the Azerbaijani side.

The parties considered the possibilities of increasing trade and creating joint ventures of various profiles, the report said. In particular, the discussions included the exchange of trading houses and the creation of the Turkmen-Azerbaijani business council.

The meeting participants talked about the need for organizing mutual visits at various levels to share best practices, including in the areas of high technology and machine engineering.

Interest was expressed in establishing car-ferry and rail-ferry services between the two countries and activating the work for the implementation of transport operations through airports.

The parties noted the high level of cooperation between Turkmenistan and Azerbaijan, based on the principles of equality, good neighborliness and mutual respect, the report noted.

The parties agreed to hold the sixth meeting of the intergovernmental Turkmen-Azerbaijani commission for economic cooperation in Baku in 2020.

Being maritime neighbors on the Caspian Sea, Turkmenistan and Azerbaijan are interested in using alternative routes for their energy carriers to be routed to Europe.

Turkmenistan is one of the key players in the energy market of the Caspian region and Central Asia. Turkmenistan’s hydrocarbon resources can be connected to the western route via the Caspian Sea, thanks to the construction of the Trans-Caspian Gas Pipeline. Traveling about 300 kilometers along the Caspian seabed to the coast of Azerbaijan, energy resources can be transported from there to Turkey and further to Europe.

The stable transportation of Turkmen oil through Azerbaijan in recent years can be named as an illustrative example of mutually beneficial cooperation. The geographical position of the two states also creates favorable conditions for the effective joining of efforts in the implementation of projects to form modern transcontinental communication corridors connecting Europe and Asia, providing optimal land and sea cargo transportation routes.




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