On 16 December 2024, the 15th meeting of the Turkmen-Japanese Committee for Economic Cooperation was held in Ashgabat. The delegation of Japanese business circles was headed by Hiroyuki Tsubai, member of the Board of Directors of Itochu Corporation, Executive Vice President, President of Machinery and Equipment, Chairman of the Committee from the Japanese side.
The forum brought together representatives from various ministries and departments of both countries, members of the Union of Industrialists and Entrepreneurs, and leaders of business entities from both sides.
During the business meeting, the parties focused on financial and investment cooperation, exploring promising joint projects and avenues for industrial collaboration.
Japanese business circles expressed keen interest in expanding their presence in the Turkmen market. Discussions centered on their participation in large-scale transformative programs within Turkmenistan.
Priority areas of cooperation identified include industrial sectors, gas and petrochemicals, transportation and communications, agriculture, and advanced technologies.
Leading Japanese companies significantly contribute to Turkmen economic development by participating in infrastructure projects across key sectors, notably gas and the chemical industry. This positive experience determines Turkmenistan’s interest in further attracting the experience and technologies of Japanese corporations to implement new projects, including in the field of construction and electric power industry.
Currently, Turkmenistan is actively forming a new industrial model, prioritizing the rational utilization of its abundant natural resources and advantageous geographic location. This model emphasizes the widespread adoption of innovative technologies, advanced scientific and technological advancements, and modern production methodologies.
Environmental protection and green energy initiatives are key priorities in the partnership with Japan, aligning with global sustainability trends.
Representatives of the Japanese business community presented their country’s trade, economic, and resource potential, highlighting promising avenues for productive collaboration across diverse sectors, including infrastructure development.
Following the meeting, a number of documents were signed, including:
• Framework Agreement between the State Concern Türkmenhimiýa and the group of companies Mitsubishi Heavy Industries Asia Pacific, Pte. Ltd. (Singapore), Çalik Enerji Sanayi ve Ticaret A.Ş. (Türkiye), Mitsubishi Corporation (Japan) for the provision of service and maintenance of the Garabogazkarbamid plant;
• Framework Agreement between the State Concern Türkmenhimiýa and the group of companies Mitsubishi Heavy Industries, Ltd. (Japan), Gap Inşaat Yatirim ve Diş Ticaret Anonim Şirketi (Türkiye) and Mitsubishi Corporation (Japan) on cooperation in the design, procurement and construction on a turnkey basis of a carbamide plant with a capacity of 1,155 thousand tons per year in the village of Kiyanly in the Balkan province of Turkmenistan;
• Memorandum of Understanding between the State Concern “Turkmenhimiýa” and the Group of Companies “Kawasaki Heavy Industries, LTD.” (Japan), “ITOCHU Corporation” (Japan) on mutual cooperation;
• Memorandum of Understanding between the State Concern Türkmenhimiýa and Kawasaki Heavy Industries, LTD. on Additional Agreement No. 3 for the supply and maintenance of GTG plant in the Akhal province;
• Memorandum of Understanding between the Ministry of Energy of Turkmenistan and Sumitomo Corporation Power & Mobility (Japan);
• Convention between Turkmenistan and Japan on the Elimination of Double Taxation with respect to Income Taxes and the Prevention of Tax Evasion and Tax Avoidance
• Minutes of the fifteenth meeting of the Turkmen-Japanese Committee for Economic Cooperation.
///nCa, 17 December 2024