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S. Korea, Turkmenistan to expand economic ties

According to Yonhap News,

(SEOUL=Yonhap News) South Korea's industry ministry said Friday it hosted a meeting with its Turkmenistan counterparts on expanding economic ties between the two countries.

The Ministry of Trade, Industry and Energy said the two countries agreed to bolster their mutually beneficial ties by joining forces in a wider range of industries ranging from synthetic fiber to energy.

The ministry claimed that Turkmenistan is a crucial economic partner, with numerous South Korean firms actively penetrating deeper into its energy and construction industries.

In the energy segment, the ministry asked the Turkmenistan government to lend hands to South Korean firms seeking to participate in projects in the Central Asian country. Seoul also agreed to continue talks with Ashgabat to foster plant engineers in Turkmenistan.

South Korea expressed hope over cooperating with Turkmenistan in the synthetic fiber industry as well.

The Turkmenistan government expressed interests in South Korea's agricultural and fishery-related technologies as well, the ministry said.

The ministry also requested the Turkmenistan government simplify the procedures of opening local branches for South Korean companies.

South Korea will continue to host follow-up meetings to set up details for the joint projects between the two countries, the ministry added.

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Source Text

Source: Yonhap News (February 22, 2019)

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