The prospects of Turkmen-German partnership in the spheres of banking, high technologies and investments were discussed

Current trends, potential and prospects of Turkmen-German trade and economic relations were discussed at the meeting of the Minister of foreign Affairs of Turkmenistan Rashid Meredov with the managing Director of the Eastern Committee of German economy Michael Harms, who arrived in the Turkmen capital with a working visit. This was reported on the website of the foreign Ministry of Turkmenistan.

During the meeting, the sides also discussed the development of bilateral cooperation between Turkmenistan and Germany. In particular, a number of issues related to the prospects of cooperation in the field of banking, high technology, investment and tourism were discussed.

The parties highlighted that the holding of Days of economy of Turkmenistan in Germany, and Days of economy of Germany in Turkmenistan, meetings of the Turkmen-German working group, as well as the development of new economic projects were positive factors in the strengthening of mutually beneficial partnership.

Speaking about the relations in the sphere of business, the parties noted that German companies have been effectively working in various areas of the Turkmen market for many years, which indicated a favorable investment climate created in Turkmenistan, as the Turkmen foreign Ministry said.

In Turkmenistan, German company Siemens, Daimler, Claas, Rohde & Schwarz, Dresser-Rand, RWE, "ILF Consulting Engineers GmbH", etc work.

In July 2017, in Frankfurt am Main, Ashgabat held a presentation of opportunities for the German business community to participate in major projects in the field of fuel and energy, including the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI), natural gas processing plants and the production of polyethylene, polypropylene, synthetic gasoline and other gas chemical products on its basis.

Ashgabat also invited German companies to cooperate in the implementation of projects in the electricity and electrical industries, including the construction of power lines from Turkmenistan to Afghanistan and Pakistan.

In 2017 the German company “ILF Beratende Ingenieure GmbH” signed with the consortium “TAPI Pipeline Company Limited” the contract for the provision of services for the development of the preliminary design of the TAPI gas pipeline project in the area of Afghanistan-Pakistan.  "TAPI Pipeline company Limited” is preparing to announce international tenders for the purchase of equipment necessary for the construction of TAPI sites in the Afghan and Pakistani territories.

In November 2017, the German-Saudi company Global Pipe company signed a contract with the SC "Turkmengas" for the supply of pipe products in 2018 for $40 million for the construction of the Turkmen section of the TAPI gas pipeline.

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