ASHGABAT: Turkmenistan and China have agreed to enhance the scale of mutual investments with a focus on developing key areas of their partnership, according to an official report.

According to Trend News Agency, the decision was made during the third meeting of the Turkmen-Chinese Working Group on Investment Cooperation in Ashgabat. The meeting served as a platform to discuss the progress and future plans in line with the agreements made between President Serdar Berdimuhamedov of Turkmenistan and President Xi Jinping of China at the Central Asia-China summit in May 2023.

The discussions at the meeting highlighted the commitment of both nations to deepen their cooperation, especially in traditional sectors like energy and infrastructure. Additionally, emerging sectors such as green energy and new minerals were identified as new areas for partnership expansion. The Turkmen delegation outlined specific steps being taken to improve the investment climate in Turkmenistan, including efforts towards joining the Wo
rld Trade Organization (WTO) and recent evaluations by Fitch Ratings.

Progress in Turkmenistan’s oil and gas sector, transportation, and chemical industries were also presented to the Chinese representatives. The exchange between business community leaders from both countries focused on boosting investment relations in the industrial sector, with an agreement to enhance cooperation mechanisms to foster new growth opportunities.