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2023  N11-12(225-226)
The end of the calendar year in Turkmenistan was marked by a lot of landmark events demonstrating the growth of investment interest on the part of many foreign partners that view the country’s economic sector as a promising and reliable financial investment field.
The XXVIII International Conference and Exhibition “Oil and Gas of Turkmenistan – 2023” organized by the state concerns “Turkmengas”, “Turkmenneft” and the state corporation “Turkmengeology” was among the largest events in this series. In this regard, it is important to note the quantitative and qualitative composition of the event participants. About 70 Turkmen and foreign companies operating in the oil and gas sector set up their stands in the exhibition hall of the Expo Centre. The foreign participants of the forum included companies from Azerbaijan, UK, Denmark, Italy, China, Malaysia, UAE, Russia, Singapore, USA, Turkey, France, Japan and other countries. The exhibitors presented their capacities in exploration, production, transportation and storage of hydrocarbons, deep drilling, modernization of existing and construction of new pipelines, as well as increasing oil and gas processing capacities.
The international conference “Oil and Gas of Turkmenistan – 2023” in a hybrid format was an important platform for communication that enabled the participants to discuss trends in the energy markets and realization of the potential of international partnerships in the oil and gas sector, as well as in the field of renewable energy sources. According to the reports by the representatives of the Turkmen fuel and energy complex, Turkmenistan as one of the major exporters of energy resources stands for the establishment of sustainable international systems for energy transportation to international markets.
The forum foreign participants emphasized in their reports that Turkmenistan’s constructive approach to mutually beneficial partnerships and initiatives to form a new architecture for global energy security enjoy broad support in the world. A welcoming message from President of Turkmenistan Serdar Berdimuhamedov to the participants of the XXVIII International Conference and Exhibition “Oil and Gas of Turkmenistan – 2023” with congratulations on the start of work emphasized the importance of the event. The head of state noted in his message that the international forum would allow foreign participants to become familiar with the development strategy of the fuel and energy complex of Turkmenistan, as well as experience in actively attracting the latest technologies to the industry.
“Such forums are of great interest to experts. They are important for working out even more effective mechanisms for interaction and establishing direct contacts that in turn allow us to launch new joint projects for the development and efficient use of Turkmenistan’s vast fuel and energy resources,” the President of Turkmenistan emphasized.
The scientific conference and the XVI international exhibition of telecommunications, telemetry, information technology and TV and radio broadcasting equipment “Turkmenel – 2023” in Ashgabat were no less significant events in terms of measuring foreign investment interest in the Turkmen economy. The forum was organized by the Turkmentelecom agency and the Chamber of Commerce and Industry of Turkmenistan. It brought together delegations from Azerbaijan, Kazakhstan, China, Kyrgyzstan, the Republic of Korea, Russia, the USA, Turkey, France, Switzerland, Japan and other countries.
Over 60 exhibitors – divisions of the telecommunications sector of Turkmenistan and their foreign partners – presented their products on a large scale at the exhibition. These are manufacturers and suppliers of high-tech equipment, developers of advanced technologies and services and large international telecom operators.
The exhibition also demonstrated achievements in the development of wired telephone communications, as well as Internet and mobile banking that make it possible to carry out non-cash payments both on the territory of Turkmenistan and abroad, facilitating commodity-money relations and ensuring their security.
During the exchange of views at the scientific conference, the participants discussed the pace of development of the telecommunications sector of Turkmenistan and international cooperation in this area, as well as attracting foreign investment and technology to the industry. On the sidelines of the forum, the Turkmentelecom agency signed a number of memorandums with foreign partners.
The exhibition of food production technologies “Agro-Pak Turkmenistan–2023” was another very significant event. About 90 Turkmen and foreign companies operating in the area of processing agricultural products and food production presented their products, services and potential for cooperation.
The stands demonstrated packaging machines, feed mixers, seeders, units for production of vegetable oil, processing of livestock and poultry raw materials, vegetables, fruits and other agricultural products. The exhibition also showed visitors the modern trends in the construction of greenhouses, drip irrigation systems and livestock farms.
The continued interest of foreign investors in the leading sectors of the Turkmen economy was very clearly evidenced at two large-scale exhibitions that presented the partnership potential of two countries that are very close to Turkmenistan, both in terms of geography and traditional trade interests. This is about industrial exhibits of Turkey and Iran that show invariable interest in bilateral cooperation.
A clear demonstration of foreign companies’ true interest in being present in the Turkmen market of goods, services and capital investments provides convincing evidence of the fact that in recent years Turkmenistan has been channeling significant public and foreign investments in the production sector, creating a solid foundation for development and diversification of the economy. At the same time, the largest investments are directed to the most promising areas of economic development.

Ahmetdzan NURIEV

©Turkmenistan Analytic magazine, 2005