Turkmenistan has marked a significant milestone in its economic diplomacy by signing several key bilateral agreements during the recent Avaza Investment Forum.
These agreements span crucial sectors such as healthcare, industry, trade, and economic zone development, underscoring the country’s commitment to expanding its global partnerships and accelerating sustainable growth, The Caspian Post reports via Turkmen media.
In a notable move towards enhancing regional health security, Turkmenistan’s Minister of Finance and Economy, Mammetguly Astanagulov, alongside Andrey Mikhnev, the World Bank’s Resident Representative for Turkmenistan and Kazakhstan, signed a grant agreement establishing the “Target Fund for the Prevention of Pandemics.” This fund supports the “One Healthcare in Central Asia” initiative, which aims to protect food systems and foster healthier ecosystems across Central Asia.
On the industrial front, the Ministry of Industry and Construction entered into a Memorandum of Understanding with Austria’s Primetals Technologies GmbH. Signed by Minister Toiguly Nurov and Senior Vice President Andreas Lemp, this partnership will grant Turkmenistan access to advanced metallurgy technologies from one of the world’s leading innovation centers within the Mitsubishi Heavy Industries Group, aiming to modernize the nation’s metal production capabilities.
Trade relations received a boost through a new agreement between the Chamber of Commerce and Industry of Turkmenistan and the West London Chamber of Commerce (WLCC). Deputy Chairman Azat Nazarov and WLCC President Christopher Durkin formalized the Memorandum of Understanding, which seeks to facilitate Turkmen businesses’ entry into global markets by leveraging WLCC’s extensive international network.
Furthering economic development efforts, Turkmenistan’s Ministry of Finance and Economy signed a Memorandum of Understanding with the World Free Zones Organization (World FZO), represented by its Central Asia branch head, Erbol Bukharbayev. This collaboration is set to enhance the growth and management of Turkmenistan’s free economic zones by tapping into the expertise of a global network representing over 1,200 zones worldwide.
The agreements signed at the Avaza Investment Forum highlight Turkmenistan’s multi-faceted approach to foreign economic policy, reflecting its drive to diversify the economy through strategic international partnerships in healthcare, industry, trade, and free economic zone development.
As Turkmenistan continues building bridges across these key sectors, it positions itself for sustained economic growth and increased integration within the global economy.
