Here is the transcript of an interview with the ambassador of Korea in Turkmenistan, Ji Kyu-Taek.
nCa – Could you please sum up the results of the visit of President Yoon Suk Yeol of Korea to Turkmenistan in June 2024?
JKT – His Excellency Yoon Suk Yeol, President of the Republic of Korea(RoK) and His Excellency Serdar Berdymuhamedov, President of Turkmenistan had one-to-one meeting and expanded format meeting, and held joint press statement on the occasion of the State Visit of President Yoon Suk Yeol to Turkmenistan on 10-11 June 2024.
In addition, Korea-Turkmenistan Business Forum was held attended by H.E. President Yoon and His Excellency Gurbanguly Berdimuhamedov, the National Leader of Turkmen people, Chairman of the Halk Maslahaty, as well as over 200 business leaders from both countries. Following the Forum, a meeting was held between H.E. President Yoon and H.E. Gurbanguly Berdimuhamedov.
On the occasion of the State Visit of President Yoon Suk Yeol, the RoK and Turkmenistan further deepened and developed the mutually beneficial partnership between the two countries, and several cooperation MOUs were signed between the related parties in the fields of energy, plant, and health care, etc.
The signed MOUs are such as:
1. MOU on the facilitation of the Joint Commission of Cooperation between the Government of the RoK and the Government of Turkmenistan.
2. MOU on establishing a Framework on Trade and Investment Promotion between the Government of the RoK and the Government of Turkmenistan.
3. MOU between the Hyakimlik of Ashgabat of Turkmenistan and the Ministry of Land, Infrastructure, and Transport of the RoK for cooperation on infrastructure and New City Development.
4. MOU between the Oncological Scientific and Clinical Center of the Ministry of Health and Medical Industry of Turkmenistan and Chilgok Hospital of Kyungpook National University of the RoK.
5. MOU between the Emergency Medical Center of the Ministry of Health and Medical Industry of Turkmenistan and Chilgok Hospital of Kyungpook National University of the RoK.
6. MOU between the State Bank for Foreign Economic Affairs of Turkmenistan and the Export-Import Bank of Korea and the Korea Trade Insurance Corporation.
The significance of the signed MOUs:
First, the RoK and Turkmenistan agreed to make joint efforts to expand trade and investment between the two countries by signing the Trade and Investment Promotion Framework (TIPF), and to expand mutual information sharing and cooperation in the areas of transportation, infrastructure, and new city development.
Second, expanding the horizon of cooperation between the two countries from the energy and infrastructure area to the areas such as health care.
Meanwhile, in the Joint Statement signed between the Presidents of the two countries, Turkmenistan supported the “K-Silk Road” initiative, which was announced in early June by the Government of the RoK and aims to bolster cooperation in resources, development, and culture with Central Asia.
The initiative seeks to create a new cooperation model by linking Korea’s innovative capabilities with Central Asia’s development potential and abundant resources under the vision of freedom, peace, and prosperity.
In addition, Turkmenistan supported holding the Korea-Central Asia Summit in 2025, and the two countries have the same view that the
Korea-Central Asia Parliamentary Speakers’ Conference launched last year will play an important role in promoting cooperation between Korea and the five Central Asian countries. And the RoK and Turkmenistan closely cooperate to successfully hold the 2nd Korea-Central Asia Parliamentary Conference, which will be held in Ashgabat on 14th October in 2024.
In a speech at the Korea-Turkmenistan Business Forum held at the Turkmenistan Chamber of Commerce and Industry on June 11, H.E. President Yoon said that Turkmenistan, the world’s fourth largest natural gas reserve, and the RoK, which has extensive industry experience, have much to do together, and also mentioned that like the famous horse of Turkmenistan, Ahal-Teke, the speed of economic cooperation between the countries should be further increased.
H.E. President Yoon also noted that Turkmenistan’s skies and seas should be actively utilized, and emphasized the need for expansion of air routes between the two countries and cooperation in the shipbuilding industry.
Following the business forum, there were meetings between H.E. President Yoon and H.E. the National Leader Gurbanguly Berdimuhamedov, during which the National Leader said that President
Yoon’s State Visit is an important milestone in developing a comprehensive cooperative relationship between the two countries in all spheres including politics, economy, and culture.
nCa – What is the state of relations between Turkmenistan and Korea?
JKT – The relationship between Korea and Turkmenistan has been steadily developed mainly with energy and plant cooperation since the establishment of diplomatic ties in 1992.
The Korean Embassy in Turkmenistan was opened in 2007, and the mutually beneficial partnership was formed in 2008.
The Korean President visited Turkmenistan in 2014 and 2019, and H.E. Gurbanguly Berdimuhamedov, the National Leader of Turkmen people, Chairman of the Halk Maslahaty, visited Korea in 2015 and in 2022.
The two countries expand the horizons of cooperation from the current focus on energy and plant to a broader and more diverse area such as health-care, shipbuilding, transportation, culture and humanities, and also give priority to mutual personnel exchanges to enhance understanding of each other.
nCa – What are your views on the economic potential and investment opportunities in Turkmenistan?
JKT – Turkmenistan is a resource rich country with the world’s fourth largest natural gas reserves. According to Turkmenistan government statistics, Turkmenistan has achieved a high level of economic growth of more than 6% over the past three years.
Turkmenistan is also rich in energy and mineral resources such as oil and iodine to gas, so continuous economic development could be expected based on these, and it is evaluated as having great potential for development.
Fitch, an international credit rating agency, has evaluated that the Turkmenistan administration has played a somewhat more active role over the last year in international relations, the climate-transition agenda, and in promoting investment opportunities, and that high level of policy continuity is observed.
Turkmenistan is pursuing policies to diversify industries and export destinations, so it has a complementary economic structure with Korea, which has extensive experiences in industry development and high construction capabilities. There would be many opportunities for the RoK and Turkmenistan to cooperate. /// nCa, 20 September 2024