Turkmenistan, Saudi Arabia Mull Boosting Energy Collaboration

Turkmenistan's President Serdar Berdimuhamedov received Saudi Arabian Minister of State, Emir Turki bin Mohammed Al Saud, who is also a member o the Cabinet of Ministers.

During the meeting, it was noted that Turkmenistan attaches great importance to strengthening traditional friendly and fraternal interstate relations with the Kingdom of Saudi Arabia, which are distinguished by openness, mutual respect and a high level of trust, The Caspian Post reports, citing Turkmen media.

As stated, the countries successfully cooperate not only in a bilateral format, but also within the framework of authoritative international organizations, primarily the United Nations (UN) and the Organization of Islamic Cooperation (OIC).

During the exchange of views on the current state and prospective directions of development of bilateral trade and economic relations, the interlocutors noted with satisfaction the annual growth of mutual trade turnover.

As President Serdar Berdimuhamedov emphasized, modernization and diversification of the national economy, active attraction of foreign investment in all its sectors are priority areas of Turkmenistan’s economic strategy.

Ashgabat is always open to effective cooperation with foreign partners, and the comprehensive socio-economic programs currently being implemented create favorable conditions for expanding the fruitful relations established in recent years.

As is known, Turkmenistan and Saudi Arabia are countries with huge reserves of natural resources, which serves as a basis for developing mutually beneficial partnership in the fuel and energy sector. In this regard, the interlocutors noted the presence of great potential and prospects for increasing cooperation in the field of production, processing and supply of oil and gas to world markets, confirming the mutual readiness of the parties to further deepen the established effective cooperation, the news agency noted.