Turkmenistan Today – The President of Turkmenistan met with representatives of the US business community

Published 04/05/2023

Today, President Serdar Berdimuhamedov received Eric Stewart, Executive Director of the Turkmen-American Business Council, Brice Razan, Vice President for Gas Turbine Equipment Sales for Europe, Middle East and Africa at General Electric Gas Power, Csaba Lejko, President for Strategic Partnership Development in Central Asia at John Deere, John Reese, Vice President of Nicklaus Companies, Antonio Mugica, Founder and CEO of Smartmatic, Nikolay Yurchenko, Chairman of the Board of Westport Trading Europe Limited, and Duke Guim, Vice President for Operations at UGT Renewables.

Having expressed sincere gratitude to the head of state for the time devoted and the opportunity provided to discuss priority issues of bilateral cooperation, the businessmen confirmed the desire of US business circles to further develop productive ties with Turkmenistan, which has solid economic potential.

Warmly welcoming the guests, President Serdar Berdimuhamedov noted that this visit of the head of the joint Business Council at the head of a representative delegation of American entrepreneurs in our country is considered as the desire of the US business community to expand mutually beneficial cooperation. The head of Turkmenistan expressed confidence that during their stay in Ashgabat, American partners will have a good opportunity to meet with their Turkmen colleagues and exchange views on promising areas of cooperation.

During the meeting, the traditionally friendly nature of Turkmen-American relations was emphasized, which are consistently developing on the principles of equality, mutual respect and mutual benefit. At the same time, the parties confirmed their readiness to further build up constructive multifaceted cooperation, including in such areas as trade, investment activities, and intensification of dialogue between business circles. In this context, the significant role of the Turkmen-American Business Council, which under the leadership of Eric Stewart has been carrying out a great deal of targeted work for many years, was especially noted.

Over the past 15 years since its foundation, the Business Council has become an effective tool for bilateral partnership, an effective platform for establishing, developing and strengthening productive contacts between economic entities of both countries. Large American companies that are part of it successfully operate in the Turkmen market in strategically important sectors. It is also noteworthy that from year to year the number of members of the Business Council expressing a desire to cooperate with Turkmenistan and showing interest in the implementation of new promising investment projects is growing.

As noted, the large-scale transformations carried out, primarily in reforming and diversifying the national economy, have ensured our country's consistently high rates of development. This factor, as well as the presence of the richest natural resources, a favorable geographical location, and the steadily implemented foreign economic strategy of "open doors" determine a favorable investment climate for foreign partners.

Turkmenistan has formed a solid legislative base, brought into line with international law, and created the most attractive conditions for expanding international economic cooperation in various areas. These include the oil and gas sector, electric power, renewable energy, transport and communications, the agro-industrial complex, the textile industry, and high technology.

There are also good opportunities for cooperation in the sports sector and the creation of specialized infrastructure, in particular for such a popular sport in the world as golf.

The United States of America is one of the important trade and economic partners of Turkmenistan. Speaking about this, President Serdar Berdimuhamedov noted with satisfaction that positive results have been achieved in this direction over the past years. At the same time, it is obvious that mutual potential can be used much more widely. Turkmenistan welcomes the expansion of mutually beneficial partnership with American companies, which it intends to encourage and support.

Having expressed deep gratitude to the head of state for the trust shown and the meaningful, substantive conversation that took place, the businessmen once again confirmed the desire of US business circles to strengthen their positions in the promising Turkmen market and to participate in the implementation of new joint projects.

At the end of the conversation, President Serdar Berdimuhamedov and representatives of the American business community expressed confidence that today's meeting will be a new important step towards the dynamic development of effective and long-term bilateral trade and economic ties that meet common interests.