On Monday, the eighth meeting of the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation was held via digital video communication. The key topic of discussion was the diversification of mutually beneficial cooperation in a wide range of areas.

The Turkmen delegation at the meeting was headed by Vice Chairman of the Cabinet of Ministers of Turkmenistan Myratgeldi Meredov, the Korean delegation - by Minister of Trade, Industry and Energy Son Yun Mo.

The participants in the meeting noted the high level of bilateral ties that have been established in recent years, characterized by positive dynamics.

During the meeting, the progress in the implementation of the agreements reached, as well as further steps of interaction in the political-diplomatic, trade-economic and cultural-humanitarian spheres were discussed.

Representatives of a number of ministries and departments of our country presented overview reports reflecting large-scale programs of socio-economic development of Turkmenistan.

Representatives of the Republic of Korea emphasized the attractiveness of the Turkmen market due to the most favored nation treatment for foreign capital and the “open door” policy pursued by President Gurbanguly Berdimuhamedov.

An example of mutually beneficial cooperation in the creation of high-tech industries based on the processing of local raw materials are large projects with the participation of Korean companies - the construction of a natural gas desulfurization plant at the Galkynysh field, the modernization of the Turkmenbashi complex of oil refineries, the construction of a gas chemical complex for the production of polyethylene and polypropylene in the village Kiyanly in the Balkan region.

The members of the commission from the Korean side emphasized their readiness to continue partnership and active participation in important projects of national and regional importance being implemented by Turkmenistan.

In particular, cooperation in the field of transport is seen as promising, taking into account the initiatives of Gurbanguly Berdimuhamedov on the formation of multimodal transit and transport corridors in the directions "North-South" and "East-West", as well as the modernization of infrastructure in this area.

Currently, a significant part of the public transport fleet of our country is made up of buses and cars made in Korea, the deliveries of which will continue in the future.

They also expressed mutual interest in continuing cooperation in the construction sector, the textile industry, and a number of other areas.

The parties discussed in detail the issues of holding the 4th meeting of the Turkmen-Korean Business Council in Seoul in 2021. A proposal was also made to establish links between the commodity exchanges of the two countries, to hold exhibitions, conferences, business meetings and forums on a regular basis.

Following the negotiations, the parties adopted the Protocol of the 8th meeting of the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation. In addition, a Memorandum of Understanding was signed between the Balkan Shipbuilding and Repair Plant and the Korea Institute of Marine Equipment (KOMERI).