The State Concerns “Turkmengas” and “Turkmenchemistry” s igned Cooperation Agreements with Bahraini “GPIC”

Last Saturday, a Turkmen-Bahraini business forum was held in Ashgabat, to which a solid delegation of representatives of business organizations from the Kingdom arrived in Turkmenistan. The meeting was organized on the eve of the state visit of the King of Bahrain Hamad Bin Isa Al Khalifa, who arrived in the capital of Turkmenistan on the evening of March 17.

The business forum was attended by leaders and representatives of ministries and departments, as well as organizations and companies of the private sector of Turkmenistan and Bahrain. The participants noted the presence of a large potential for the development of trade and economic relations between Turkmenistan and Bahrain.

From the Turkmen side, the forum was addressed by the heads of the Turkmengas State Concern, the Ministry of Energy of Turkmenistan, as well as the Chamber of Commerce and the State Bank for Foreign Economic Affairs of Turkmenistan.

From the side of Bahrain, the heads of the National Oil and Gas Department, the National Gas Company, the Ministry of Electricity and Water Resources, as well as the leaders of the Chamber of Commerce and the Central Bank of Bahrain spoke.

In their presentations, the participants spoke in detail about the priority areas of cooperation in the oil and gas, construction, transport and communications, banking and food industries.

As it was emphasized, the presence of fuel and energy and processing capacities in Turkmenistan and Bahrain, their favorable geographical position serve as a convenient platform for expanding bilateral and regional cooperation.

At the end of the meeting a package of documents was signed. Among them are: a Memorandum of Understanding on cooperation in the gas and gas chemical industries between the State Concern “Turkmengas” and the company “Gulf Petrochemical Industries”, a confidentiality agreement between the State Concern “Turkmengas” and the company “Gulf Petrochemical Industries”, a Memorandum of Understanding between the State concern “Turkmenchemistry” and the company “Gulf Petrochemical Industries” and the confidentiality agreement between the State concern “Turkmenchemistry” and the company “Gulf Petrochemical Industries”.

Also a Memorandum of Understanding between the Chamber of Commerce and Industry of Turkmenistan and the Chamber of Commerce and Industryof the Kingdom of Bahrain was signed.

On Sunday, meetings and negotiations took place between the sectoral ministries and departments of the two countries working in the fields of the fuel and energy complex, chemical industry, agriculture, tourism, etc.

The partnership with “GPIC” is focused on promoting Turkmen gas and chemical products both locally and for export, including to the countries of the Persian Gulf.

GPIC representatives visited Turkmenistan on a working visit in February 2019. Then the possibilities of implementing a number of joint oil and gas and gas chemical projects and the development of further areas of cooperation were discussed.

Special attention is paid to the oil and gas and chemical industries, the development of infrastructure in this area and the transition of Turkmenistan from the export of hydrocarbon raw materials to products of their processing, which are in demand in the regional and global markets.

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