The Turkmen-Azerbaijani business forum, which was held in Ashgabat on November 27-28, 2023, outlined new approaches to the development of business partnership between the two countries. The forum was attended by representatives of the government, business community, and academic institutions of both sides, who discussed the prospects of cooperation in various sectors, such as oil and gas, textile, agriculture, construction, pharmaceutical, transport, logistics, and information technology.
The Forum Was Held on the Sidelines of the Joint IGC
The business forum was held on the sidelines of the seventh session of the Intergovernmental Turkmen-Azerbaijani Commission (IGC) on economic cooperation, which was co-chaired by Deputy Prime Minister of Turkmenistan Batyr Atdayev and Minister of Economy of Azerbaijan Mikayil Jabbarov. The IGC reviewed the implementation of the agreements reached during the previous sessions and adopted a protocol on the results of the meeting.
The IGC also discussed the issues of trade, investment, banking, finance, energy, transport, communication, agriculture, industry, tourism, culture, education, science, and health. The two sides expressed their satisfaction with the level of bilateral relations and reaffirmed their commitment to further enhance the strategic partnership based on mutual trust and respect.
The Forum Explored the Potential of Cooperation in Various Sectors
The business forum explored the potential of cooperation in various sectors of the economy, where the two countries have complementary advantages and interests. The forum was organized by the Chamber of Commerce and Industry of Turkmenistan and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), with the support of the Embassy of Azerbaijan in Turkmenistan and the Embassy of Turkmenistan in Azerbaijan.
The forum featured presentations by the representatives of the ministries, agencies, and companies of both sides, who showcased the opportunities and achievements of their respective sectors. The forum also provided a platform for business-to-business meetings and negotiations, where the participants exchanged views and proposals on specific projects and initiatives.
The Forum Resulted in the Signing of Several Documents
The business forum resulted in the signing of several documents, which reflected the mutual interest and willingness of the two sides to expand and diversify their economic cooperation. The documents included:
- A memorandum of understanding between the Chamber of Commerce and Industry of Turkmenistan and AZPROMO on the establishment of a joint business council;
- A memorandum of understanding between the State Bank for Foreign Economic Affairs of Turkmenistan and the International Bank of Azerbaijan on cooperation in the field of banking and finance;
- A memorandum of understanding between the Turkmenhimiya State Concern and the SOCAR Polymer LLC on cooperation in the field of petrochemical industry;
- A memorandum of understanding between the Turkmennebitgazgurlushyk State Concern and the AzVirt LLC on cooperation in the field of construction and engineering;
- A memorandum of understanding between the Turkmenawtoulaglary Agency and the Azpetrol LTD on cooperation in the field of transport and logistics;
- A memorandum of understanding between the Turkmenaragatnashyk Agency and the Azercosmos OJSC on cooperation in the field of communication and information technology;
- A memorandum of understanding between the Turkmenstandartlary Agency and the Azerbaijan National Academy of Sciences on cooperation in the field of standardization and metrology.
The signing ceremony was attended by the co-chairs of the IGC, the heads of the diplomatic missions of the two countries, and the representatives of the business community and the media.
The Forum Demonstrated the Dynamism and Diversity of the Turkmen-Azerbaijani Relations
The business forum demonstrated the dynamism and diversity of the Turkmen-Azerbaijani relations, which are based on the historical, cultural, and spiritual ties between the two fraternal peoples. The forum also confirmed the readiness and determination of the two sides to further strengthen and deepen their economic cooperation in accordance with the vision and guidance of the leaders of the two countries, President of Turkmenistan Serdar Berdimuhamedov and President of Azerbaijan Ilham Aliyev.
The forum also contributed to the realization of the common goals and interests of the two countries in the regional and international arena, especially in the context of the implementation of the large-scale transport and energy projects, such as the Lapis Lazuli corridor, the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, and the Trans-Caspian gas pipeline, which are aimed at enhancing the connectivity, stability, and prosperity of the Eurasian continent.
