UK and Turkey working together in Turkmenistan

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Turkmenistan gained independence from the Soviet Union in 1991. A small country in terms of population (5.2 million), its importance, both commercially and politically, lies in the fact that it has the fourth largest reserves of gas in the world, including the second largest single deposit of 21tcm.

Turkmenistan’s hydrocarbon wealth has allowed the Government to undertake a massive development programme which is transforming the major cities of Ashgabat (the capital), Turkmenbashi (the port on the Caspian Sea), and the creation of a new tourist resort, Avaza, on the Caspian Sea. It is this infrastructure development programme, together with the continuing development of gas fields and a wide range of services, as well as the need to educate and train the Turkmen people, which provide the opportunity for UK companies. The Government has prioritised the development of sporting facilities, including the construction of an “Olympics” complex in Ashgabat, which will host the 5th Asian Indoor and Martial Arts Games in 2017.

Turkish contractors have been at the forefront of all major infrastructure projects and have undertaken projects worth $30 billion since independence in 1991. $3billion worth of projects alone has been signed since the beginning of 2012, making Turkmenistan the largest export market for Turkish contractors. Turkish contractors are very keen to expand their links with UK companies, particularly those in all sectors of consultancy, management and project finance, together with UK goods and equipment companies. UK Export Finance can normally arrange export credit finance to support UK suppliers working for Turkish companies in Turkmenistan.

This seminar will give you the chance to hear from Turkish contractors about their requirements in Turkmenistan and their wider interests in Central Asia, as well as giving you an opportunity to showcase your company.

Source: British Expertise

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