On November 23, 2020, the 8th meeting of the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation (IGC) was held in online format.
At the meeting, the Turkmen delegation was headed by the Deputy Chairman of the Cabinet of Ministers of Turkmenistan M.Meredov, and the Korean delegation was headed by the Minister of Trade, Industry and Energy of the Republic of Korea, Sung Yun Mo.
During the meeting, the participants discussed a wide range of issues related to cooperation between the two countries in the trade and economic sphere, as well as in the field of science, education, culture and sports.
The importance of high-level contacts in strengthening bilateral relations was emphasized. The Program of economic cooperation between the Government of Turkmenistan and the Government of the Republic of Korea for 2019-2022 was highlighted as one of the important documents that gave a powerful impetus to the promotion of trade and economic ties.
The parties reviewed the implementation of the previous agreements reached during the seventh meeting of the IGC. The long-term effective cooperation of public and private structures of the two countries in the implementation of large projects in the oil and gas and gas chemical sectors of the economy using korean technologies was emphasized. The importance of regular business forums was also noted, including the creation in October 2019 of the Joint Turkmen-Korean Business Council.
The participants discussed investment issues, as well as the possibility of exchange of skills in the field of management, financial management. Particular attention was paid to cooperation in the oil and gas industry. The successful cooperation between the Turkmen structures and Korean companies such as LG International Corp and Hyundai Engineering was emphasized. Mutual interest was expressed in the implementation of joint exhibitions, forums. Proposals for the development of projects for the future were considered.
The participants discussed the possibilities of promoting partnerships in the field of information and digital technologies, transport, communications, road construction, shipbuilding, the textile industry, water and forestry. The parties exchanged views on the possibilities of cooperation in the field of architecture, urban planning, and seismology.
Cooperation in the field of health was one of the main topics, and the parties expressed interest in further promoting scientific contacts, including the exchange of skills to counter the spread of acute infectious diseases.
The participants emphasized the importance of cooperation in the field of science and education, noted the importance of interaction within the framework of the Korean International Cooperation Agency (KOICA). Interaction in the area of culture and sports was discussed.
Following the negotiations, the parties adopted the Protocol of the 8th meeting of the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation.
Besides that, the parties have signed the Memorandum of Understanding between the Balkan Shipyard and Ship Repair Plant and Korea Marine Equipment Research Institute (KOMERI).