The Saudi-Turkmen Joint Committee Discusses Enhancing Trade and Investment Relations

08 Nov 2017
Export Financing Agreement of $ 40 million Signed
The Saudi-Turkmen Joint Committee held its fifth session on Wednesday, 19 Safar 1439, corresponding to 8 November 2017 in Riyadh. The meeting was chaired by H.E. the Saudi Minister of Commerce and Investment Dr. Majid bin Abdullah Al Qasabi and H.E. the Turkmen Deputy Prime Minister, Mr. Maqsad Babayev. The meeting was attended by H.E. Mr. Ahmed Al Khatib, advisor and Chairman of the Board of Directors of the Saudi Development Fund and a number of representatives of government agencies and a group of businessmen interested in trading between the Kingdom and the Republic of Turkmenistan.

H.E. Dr. Majid Al Qasabi, Minister of Commerce and Investment, affirmed that the great potentials of the Kingdom and Turkmenistan and the promising opportunities provided by the Kingdom’s Vision 2030, necessitate the promotion and development of trade exchange, also translating the available opportunities into reality, besides enhancing joint cooperation in all fields.

During the meeting, the two sides discussed enhancing joint cooperation between the two countries, as well as developing the partnership among the private sectors, also giving businessmen the chance to have an idea about trade and investment opportunities, besides opening new horizons for bilateral cooperation.

A number of common concern issues, that may benefit the two brotherly countries, in the fields of economic, trade, investment, agricultural, energy and cooperation in education, culture, health, tourism and other fields were also discussed.

At the conclusion of the committee's work, the two parties signed the minutes of meeting of the Saudi-Turkmen Joint Committee.

On the sidelines of the meeting, the National Export Financing Agreement between the Saudi Fund for Development and the Foreign Economic Bank of Turkmenistan was signed with a value of $ 40 million dollars. Another agreement was signed as well for the implementation of TAPI Turkmenistan pipeline project between the International Saudi Pipe Lines Company and the National Holding Company “Turkmen Gas” also an agreement was signed between Saudi Aramco and "Turkmen Gas".

Last Modified 25 Dec 2018