Ashgabat hosts 7th meeting of intergovernmental commission on Azerbaijan-Turkmenistan co-op

ECONOMICS 28 November 2023 - 15:50

The development of a multi-faceted partnership was discussed at the 7th meeting of the Joint Azerbaijani-Turkmen Intergovernmental Commission and the final protocol was signed. The Azerbaijani delegation viewed the international exhibition Agro Pack Turkmenistan 2023.

Azerbaijani Economy Ministry told Caliber.Az that in the framework of the visit of the Azerbaijani delegation headed by Economy Minister Mikail Jabbarov to Turkmenistan, the 7th session of the Joint Azerbaijan-Turkmen Intergovernmental Commission on cooperation in economic and humanitarian spheres was held.

Co-chairman of the Joint Intergovernmental Commission, Economy Minister Mikail Jabbarov expressed gratitude for the warm welcome given to the Azerbaijani delegation. All-round successful development of strong brotherly relations between Azerbaijan and Turkmenistan was emphasised. The meetings of the heads of state, agreements reached and joint decisions made gave a new impetus to the comprehensive development of relations. The trade and economic sphere, which plays a significant role in bilateral ties, has seen dynamic development.

Last year, the trade turnover with Turkmenistan increased more than 5 times, and the positive trend continued in 2023. There is a great potential to boost trade turnover by expanding the range of products supplied. The free trade regime between the countries favours further growth of trade turnover. Successful trade cooperation can help stimulate mutual investments. There are great opportunities for cooperation with Turkmenistan in various areas, including investment, energy, customs, transport, agriculture, food safety, and the Baku International Sea Trade Port.

During the meeting, information was presented on Azerbaijan's growing economic indicators and favourable business environment, including business potential and opportunities created for investors in the territories liberated from occupation, and the importance of systematic holding of events to identify new areas of cooperation was noted. Turkmen investors were invited to active cooperation.

Co-chairman of the Joint Intergovernmental Commission, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Batyr Atdayev emphasised the importance Turkmenistan attaches to deepening relations with Azerbaijan and noted the existence of good prospects for further development of multi-vector mutually beneficial cooperation.

The sides discussed initiatives in the economic sphere meeting common interests and prospects for cooperation in various areas.

Commission's co-chairmen - Azerbaijani Economy Minister Mikail Jabbarov and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Batyr Atdayev - signed the protocol of the 7th meeting of the Azerbaijan-Turkmen Joint Intergovernmental Commission. The protocol envisages the expansion of partnerships in the spheres of trade, industry, energy, transport, agriculture and other areas.

Within the framework of the working visit to Turkmenistan, the Azerbaijani delegation took part in the opening ceremony of the international exhibition Agro Pack Turkmenistan 2023. At the exhibition, the delegation viewed innovative production mechanisms presented by international companies in the fields of agriculture, food industry, ICT, construction, logistics, textile industry and other sectors, as well as modern solutions to improve economic efficiency and rational use of resources in various economic spheres.