The Turkmen-Italian business partnership has been given a new impetus

On November 6, in Milan, at the Rosa Grand Hotel, a Turkmen-Italian business forum was held, dedicated to the official visit of President Gurbanguly Berdimuhamedov to the Republic of Italy.

The organizers of the meeting of business circles of the two countries with the assistance of foreign affairs agencies were the Trade Agency of the Ministry of Commerce of the Republic of Italy and, on the Turkmen side, the Chamber of Commerce and the Union of Industrialists and Entrepreneurs.

Along with the heads and specialists of a number of ministries and departments, members of the TUIE took part in the forum.

Welcoming speeches by the Director General of the Trade Agency of the Ministry of Commerce of the Republic of Italy, Roberto Luongo, and Vice President of the Lombardy Region of the Republic of Italy, Fabrizio Sala, emphasized the practical significance of the current meeting aimed at developing cooperation with a long-term perspective. At the same time, there was a noticeable increase in trade between Turkmenistan and Italy in the first half of 2019.

In turn, the Italian business community was familiarized with the economic potential of Turkmenistan, the results of major projects in various fields, and manufacturing sectors. As noted, to date, 22 investment projects have been registered in our country for a total of about 13 million US dollars and 16 enterprises with Italian capital.

In a speech by the chairman of the Union of Industrialists and Entrepreneurs of Turkmenistan, indicators of the development of the private sector of the national economy were announced. The role of public-private partnerships contributing to the success of export-oriented industries, including industrial ones, and the implementation of large investment projects, was emphasized.

The readiness of the business community of our country to cooperate with leading Italian companies that have established themselves in the international arena as reliable partners and high professionals in their field were expressed.

During meetings with Italian businessmen, proposals were made on the development of joint projects for the creation of innovative industries in the chemical industry, energy, environment, construction, oil and gas, transport, electronics and telecommunications, transportation systems, logistics, engineering, food processing, agribusiness, etc.

Following the results of the Turkmen-Italian business forum, bilateral documents were signed.

12 memoranda and agreements were concluded through diplomacy in the fields of energy, industry, and transport, the textile industry, as well as in banking, healthcare and the medical industry, and education.

Members of the Union of Industrialists and Entrepreneurs signed 20 agreements with various Italian companies, including the supply of equipment and processing lines for import-substituting industries.

The next Turkmen-Italian business forum will be held in 2020 in Ashgabat.