OREANDA-NEWS. On 06 August 2008 was announced, that the delegation of the Republic of Korea led by Minister of Knowledge Economy Lee Yun-ho, who had arrived in the Turkmen capital, was received at the Government and the Ministry of Oil and Gas Industry and Mineral Resources of Turkmenistan.

During the talks the sides exchanged views on the current state and prospects of Turkmen-Korean co-operation built on the long-term basis in compliance with both countries’ profound potential and mutual interests. The fuel and energy sector having every requisite for successful partnership in such key trends as oil and gas processing, modernization of the existing enterprises, construction and maintenance services of oil and gas facilities as well as development of Turkmenistan’s hydrocarbon resources, particularly in the Turkmen offshore area of the Caspian Sea, were specified as the most important field of co-operation.

The Korean Minister of Knowledge Economy, Co-Chairman of the intergovernmental Turkmen-Korean commission noted that co-operation in the sphere of investments and trade, construction and textile industries, agriculture, transport and communication was deemed very promising with due regard to the complementarity of the economies of Turkmenistan and South Korea

Stating the intense interest in establishing full-scale co-operation with Turkmenistan that was recognized worldwide as a very promising and dependable partner the guests said that ranking among the world’s leaders in high technologies the Republic of Korea stood ready to offer its scientific and technological advances that Turkmenistan relied on.

The representatives of the South Korean large companies expressed their willingness to expand on the Turkmen market and actively collaborate in the particular projects including construction of oil production units at the Turkmenbashi oil refineries, construction of the sea port in Turkmenbashi and sports facilities in Avaza.

The active endeavours of the South Korean business circles to establish the close contacts with Turkmen partners were conditioned to a larger extent by their knowing of the huge potential of the western region of Turkmenistan. During the recent trip to the Balkan Velayat the guests had an opportunity to visit Turkmenistan’s largest petrochemical enterprise – the Turkmenbashi oil refineries and to learn the key aspects of the Avaza National Project created in collaboration with the world-renowned companies on the ecologically pure Caspian seashore.