On June 23, President of Turkmenistan Serdar Berdimuhamedov received Vice President of the Asian Development Bank for South, Central and West Asia Yang Yingming , who arrived in our country on a visit.
Expressing gratitude for the opportunity to meet in person, the guest emphasized that ADB pays special attention to cooperation with Turkmenistan, which demonstrates stable dynamics of economic growth. In this regard, the Asian Development Bank confirmed its support for our country's initiatives to form a sustainable economy and a course for its diversification.
Having warmly welcomed the guest and expressed confidence that the meetings planned during the visit would contribute to the expansion of bilateral economic partnership, the head of state wished him success in the upcoming negotiations.
As noted, in the context of the development strategy implemented by Turkmenistan, great importance is attached to the expansion of international cooperation, intensification of dialogue with authoritative financial organizations and banking and credit institutions. In this aspect, the constructive nature of the interaction established between our country and the ADB, which is celebrating its 25th anniversary this year, was emphasized.
Over the past period, ADB has participated in financing many projects that have had a significant impact on ensuring sustainable socio-economic development of Turkmenistan. The projects themselves cover various segments of the national economy, in particular, energy, transport and healthcare.
Today, bilateral partnership with ADB is carried out within the framework of the Cooperation Strategy with Turkmenistan for 2024–2028. In this regard, assistance to the projects implemented under the Central Asian Regional Economic Cooperation (CAREC) Program for the development of the economic, trade, transport and energy sectors of our country was emphasized.
The head of state expressed confidence that the Memorandum of Understanding signed in May of this year between the State Committee for the Construction of the City of Arkadag under the President of Turkmenistan and the ADB will give a significant impetus to the long-term partnership.
As noted, consistent steps are being taken in our country to develop macroeconomic policy, improve financial markets and expand investment opportunities.
Turkmenistan, which has colossal reserves of natural resources, intends to diversify the energy sector. In this regard, during the meeting, emphasis was placed on cooperation in this area.
Turkmenistan's advantageous geographical location serves as a solid foundation for the development of the transport and logistics sector. Here, our country attaches great importance to continuing a constructive dialogue with the ADB on the modernization of the railway industry.
Noting the advisability of activating financial, credit and consulting services in the context of developing small and medium-sized businesses, the head of state emphasized the need for ADB to cooperate with domestic banks to realize the potential of the private sector.
At the end of the meeting, having confirmed Turkmenistan’s readiness to further expand mutually beneficial partnership with this major international financial organization, President Serdar Berdimuhamedov wished the Vice President of the Asian Development Bank for South, Central and West Asia Yang Yingming success in his work.
