ADCCI discusses larger joint investments in Turkmenistan

Chairman of the Board of the Abu Dhabi Chamber of Commerce and Industry, Mohammed Thani Al Rumaithi, stressed that the UAE and Turkmenistan have large potentials and opportunities that are enough to promote economic and investment cooperation between their businesses and companies to the highest levels.

Companies and businesses of Abu Dhabi own excellent expertise in implementing large-scale projects in various projects and have an expanded network of international relations to contribute to the development and infrastructure in Turkmenistan, Al Rumaithi, who is also the President of the Federation of the Chambers of Commerce and Industry (FCCI), added.

Al Rumaithi made his remarks at a meeting with Turkmen Ambassador, Orazmurat Gurbannazarov.

Trade between the UAE and Turkmenistan stood at AED975 million by the end of 2011. The figure, according to Al Rumaithi, does not reflect the real aspirations and the economic potentials of the two countries.

The Turkmen Ambassador urged Emirati companies to tap investments in his country's infrastructure and development projects launched by the government. He noted that projects worth US$37 billion were implemented in Turkmenistan in 2012. The huge investments, he remarked, provide construction and engineering companies and consultants from the UAE to strengthen their presence in Turkmenistan.

He urged for speeding up the launch of the UAE-Turkmen Business Council which will contribute to advancing economic and investment cooperation between the two countries.