Year 2024 - «Fount of Wisdom
Magtymguly Fragi

02 November 2020


Video address of the President of Turkmenistan to participants of the International Forum for Northern Economic Cooperation

Your Excellency the President of the Republic of Korea!
Esteemed Mr. Moon Jae-in!
Distinguished participants!
Ladies and Gentlemen!

          Allow me to cordially congratulate all participants of the International Forum for Northern Economic Cooperation upon the beginning of its work and thank you for the opportunity to deliver a welcoming speech.

 I regard this reputable Forum as a timely initiative in the context of discussing strategically significant topics for the long-term development of international economic, trade and investment cooperation in Eurasia.

 Historically, our continent was a real dimension for close and multi-faceted collaboration where dozens of nations and states were involved. Economic and commercial ties have been actively developed among them and trade routes have emerged and developed for many centuries. This process has always had a significant civilizational function ensuring the exchange of cultures and traditions, which helped to know and understand each other better.

 Today, in our view, a common task in creating new plans and strategies for integrated development on the Eurasian continent should be formulated on the understanding of the centuries-old experience and its practical adaptation to current realities and conditions. We call it in Turkmenistan the revival of the Great Silk Road, thus emphasizing the historical continuity of the unique nature of relations among the nations living here and the states located along with it.

 It is from this perspective that Turkmenistan is shaping its approaches to the initiative under New Northern Economic Policy of the Republic of Korea. Considering this project with respect and goodwill, we believe that its realization may become an important factor in building modern geo-economic architecture along with the East-West and South-North directions. I am confident that the practical implementation of the ideas and principles laid down in the foundation of the New Northern Economic Policy will be an effective stimulus to the creation of multi-vector energy, transport and transit corridors, formation of interconnected production cycles and industrial zones under Euro-Asian economic partnership.

 I think that diversification of cooperation should be crucial part of modern geo-economics. This is an objective process and any constructive strategy aimed at development should not replace, but complement each other based on convergence and compatibility of interests and long-term goals.

 This is Turkmenistan's vision of its role and forms of interaction with partners in the planning and implementation of various projects.

At the same time, we also believe in the effectiveness of bilateral cooperation, which only strengthens and enriches the multilateral formats of partnership. In this regard, we highly value the level of mutual understanding, efficiency and reciprocity that characterizes our relationship with the Republic of Korea.

Trade turnover between our countries has recently been dynamic and stable. Investment cooperation is developing successfully.

 Korean companies «LG» and «Hyundai» have been successfully working in the oil, gas and transport sectors of Turkmenistan for many years. Construction of a gas desulfurization plant, gas chemical complex for the production of polyethylene and polypropylene, installation and consultancy services for road safety systems, sustainable supply of automobiles produced by well-known Korean companies are among the strategic projects that were implemented successfully by these and other Korean companies in our country.

 We see great prospects for joint activities in the implementation of the projects in the field of high-tech industries, including telecommunication and space, water use particularly seawater desalination.

I take this opportunity to invite the business community of the Republic of Korea to participate more actively in Turkmen market. We are ready to provide maximum assistance to the Korean companies and create favorable conditions for them in Turkmenistan.

Distinguished participants!

          While forming its approaches to cooperation and presenting important international initiatives for the development of the economic partnership, Turkmenistan believes that Asia, with its vast human resources, intellectual, financial, industrial, and technological potential, will largely shape the future agenda of global development.

 Today, Asian countries are looking for new models of interaction among themselves and with other regions of the planet, offering significant and promising ideas and plans. Our country, having extensive reserves of hydrocarbon, mineral, and other raw materials, is dynamically increasing its production, transport, and logistics infrastructure. Being at the crossroads of strategic routes from Asia to Europe, Turkmenistan is ready to provide these opportunities and advantages for the shared development goals, to contribute to the creation of efficient economic, trade, and investment cooperation and together with partners follow the path of progress and prosperity.

 I would like to once again welcome the participants of this Forum and wish them meaningful and fruitful work.

 Thank you for your attention.


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