OREANDA-NEWS. December 17, 2009. The eight joint meeting of the Turkmen-Japanese and Japanese -Turkmen committees for economic cooperation was conducted at the luxurious New Otani Hotel in the Japanese capital

The Turkmen delegation led by Vice Premier B. Hojamuhammedov, Co-Chairman of the Turkmen-Japanese Committee for economic cooperation and the members of the Japanese-Turkmen Committee for economic cooperation led by Senior Corporate Advisor of Itochu Corporation Sumitaka Fujita took part in the regular bilateral meeting, which was conducted in the framework of the official visit of President Gurbanguly Berdimuhamedov to Japan.

Exchanging views on the prospects for and priorities of the fruitful intergovernmental dialogue established over these years and fostered through the efforts of the leaders of two countries, the sides focused on the significance of the activities of the committees and their important role in intensifying and expanding trade and economic cooperation between the countries.

The members of the Turkmen government delegation consisting of the high-ranking officials of the ministries and departments made presentations of the prospects for the development of Turkmen economy that provided the vast opportunities for attracting foreign investment and the large-scale reforms initiated by the Turkmen leader to enhance the international prestige of the country and create the conditions conducive to expanding foreign economic relations.

Noting that the current volume of trade between the two countries did not comply with their potentials the participants found it reasonable to promote the bilateral trade and economic relations and conduct the business forums, trade and economic exhibitions and fairs on a regular basis.

Underscoring with satisfaction an increasing mutual interest in expanding traditional cooperation based on the firm foundation of centuries-old friendship, the sides specified the key fields for further cooperation. In particular, the members of the official delegations expressed the readiness of their countries to expand and diversify mutual trade and economic cooperation and establish close partnership in various fields including oil and gas, chemical, energy and textile industries, transport and communications, construction, health care, banking sectors and others.

Focusing on the existing high interest in establishing full-scale cooperation with Turkmenistan, which enjoyed the reputation of a very promising and dependable partner, the representatives of the ministries, agencies, business and financial circles of Japan noted that being one of the world leaders in advanced technologies the Land of the Rising Sun stood ready to offer the most advanced scientific and industrial innovations to modern Turkmenistan. Thus, the representatives of the large Japanese companies expressed the willingness to expand on the Turkmen market and actively collaborate in new joint projects on modernization of the gas processing plants in particular. The discussion focused on the need to intensify cooperation on training highly qualified specialist that as the participants unanimously noted would promote enhancing friendship and understanding between two friendly peoples.

The talks held in the businesslike constructive atmosphere resulted in signing the bilateral documents aimed at facilitating contacts in the key sectors of the national economies. These included the Framework Agreement on the project on construction of the plant producing ammonia and carbamide in Mary town with the consortium of Kawasaki Plant Systems, Ltd and Sojitz Corporation, the Framework Agreement on the project on construction of the plant producing ammonia, methanol and carbamide in Tejen town with the consortium of Mitsubishi Heavy Industries and Mitsubishi Corporation, the Framework Agreement between Turkmenhimiya State Concern and Sojitz Corporation for the design, equipment procurement and technical consultative assistance for the plant producing caustic soda and other chemical products in Jebel town, the License Agreement between the Turkmenhimiya State Concern and Asahi Kasei Chemicals Corporation, the Memorandum of Understanding between the State Turkmengaz Concern and JGC Corporation and ITOCHU Corporation for natural gas processing, the Memorandum of Cooperation between the Institute of Strategic Planning and Economic Development of Turkmenistan and the Japan Association for Trade with Russia and the Newly Independent States (ROTOBO). The decisions adopted were reflected in the Protocol, which was signed upon concluding the meeting. The members of the Turkmen delegation thanked the Japanese partners for the fruitful dialogue and hospitality expressing belief that the meeting would give new impetus to mutually advantageous partnership built on a long-term, mutually beneficial basis.

The sides agreed to conduct the next, ninth joint meeting in the capital of Turkmenistan – Ashgabat