President of Turkmenistan Gurbanguly Berdimuhamedov held a meeting with First Vice-President of Iran Eshaq Jahangiri in the Turkmen city of Awaza, Trend reports referring to a source from Turkmen government.
During the meeting, an exchange of views took place on the prospects for cooperation in trade and economy. Both sides confirmed their intention to promote intensified mutually beneficial business contacts, increase bilateral trade and stimulate investment activity.
The parties looked at the prospects for cooperation in the fuel and energy sector, where there are great opportunities in the context of the favorable geographical location of the two countries and their huge natural resources.
"This justifies a bilateral effective partnership in ensuring energy security," the information reads.
Particular attention was paid to matters of enhancing cooperation in the transport sector to form regional and international transport and communications infrastructure.
An exchange of views also took place on a number of topical issues of the regional and global agenda of mutual interest, and both sides expressed their readiness for further cooperation on the global arena.
Turkmenistan and Iran border on the Caspian Sea and have a long land border. Over the years of long-term cooperation, they have implemented a number of large-scale joint projects including, among others, the Kazakhstan-Turkmenistan-Iran railway and the creation of international Uzbekistan-Turkmenistan-Iran-Oman corridor, which is intended to contribute to increasing trade and economic cooperation between Central Asian and Middle Eastern states.
In addition to border gas pipelines, the Dostluk (Friendship) dam was built with joint efforts of both countries.
As of February 1, 2018, 89 investment projects have been registered in Turkmenistan with the participation of Iranian companies, the total value of which makes up $1,310.95 million, 0.8 million euro and 0.81 million Turkmenistan manats (TMT).
According to the Ministry of Finance and Economy of Turkmenistan, there are 142 enterprises of various forms of ownership with the participation of Iranian capital, including limited partnerships, subsidiaries, representative offices, and branches.