Bahrain and Turkmenistan look to bolster bilateral ties

TDT | Manama         

The Daily Tribune – www.newsofbahrain.com

Bahrain and Turkmenistan are keen on strengthening their bilateral and cooperation ties on business and investment.

This comes as the Second Vice-Chairman of the Bahrain Chamber, Mohammed Al Kooheji, alongside Executive Committee Member Ahmed Alsaloom and board member Yousuf Salahuddin, convened a meeting with Turkmenistan’s Deputy Minister of Foreign Affairs B. Myatiyev at the Chamber’s headquarters yesterday.

Myatiyev was accompanied by the Deputy Chairman of State Concern “Turkmenhimiya” D. Shamedov and representative of Turkmenistan Chamber Atanepes Belliyev. The meeting hailed the bilateral relation between Bahrain and Turkmenistan, recalling the historic visit of the former President of Turkmenistan Gurbanguly Berdymukhamedov to Bahrain in 2011, and the visit of His Majesty King Hamad bin Isa Al Khalifa to Turkmenistan in March 2019, which witnessed the signing of important agreements and memorandums aimed at spurring cooperation between both countries.

Mr Alkooheji expressed the keenness of the Bahraini private sector in bolstering business relations with Turkmenistan. However, he pointed out that lengthy travel procedures, logistical hurdles, and lack of awareness of investment laws and regulations constitute major obstacles curbing business cooperation between both countries.

Mr B. Myatiyev reiterated pride in the high-level relations binding Bahrain and Turkmenistan, and affirmed that investment laws and regulations in Turkmenistan have been updated to attract foreign investments.

He revealed that in the past years, Turkmenistan succeeded in attracting over $8 billion of foreign investments, adding that his country is developing major projects that require foreign investments, including a Nitrogen and a Methanol plant.

He called Bahraini business owners and investors to visit Turkmenistan, learn about the incentives to foreign investors, and explore opportunities. He also vowed exerting all efforts to streamline the endeavours of business owners and upgrade trade between Bahrain and Turkmenistan to its aspired level.

A delegation from the Bahrain Chamber accompanied His Majesty the King during his visit to Turkmenistan in March 2019, and the Chamber organised a successful joint business forum in November of the same year.