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ASHGABAT (TCA) — President of Turkmenistan Gurbanguly Berdymukhammedov on August 27 held talks with President of Singapore Halimah Yacob with the participation of government delegations of the two countries, the State News Agency of Turkmenistan reported.

The Turkmen leader was on a state visit to the Southeast Asian country on August 26-27.

During the talks, cooperation in the spheres of trade and economy, including the fuel and energy sector, the chemical and textile industries, transport and communications was specified among the priority areas of collaboration. In this regard, the parties called for the increase and diversification of bilateral trade.

Joint intergovernmental structures, as well as business councils will play an important role in Turkmen-Singaporean cooperation. In this regard, the head of Turkmenistan focused on the possibility to establish mechanisms for promoting trade and economic relations, in particular organization of business forums, exhibitions, and expert meetings on a regular basis.

Berdymukhammedov proposed to hold the next Turkmenistan-Singapore business forum in Ashgabat.

There are good opportunities for cooperation in the tourism industry. Turkmenistan welcomes cooperation with Singaporean partners in the frames of the project on the development of the Avaza National tourism zone on the Turkmen coast of the Caspian Sea.

President Berdymukhammedov invited President Halimah Yacob to pay a return visit to Turkmenistan at any time convenient for her.

On the same day, the Turkmen president held a meeting with Singapore’s businesspeople and heads of leading companies in Singapore.

“We heard a lot about the ‘Singaporean economic miracle’, which in a short time transformed Singapore into one of the most developed countries in the world,” said the President of Turkmenistan, emphasizing that one of the main goals of his visit to this country was to establish and develop mutually beneficial ties in the spheres of trade and economy.

“We consider Singapore as one of the promising trade and economic partners of Turkmenistan,” Berdymukhammedov said. “Last year, the volume of trade between the two countries amounted to 102.8 million US dollars. As of July 1, 2019, 6 investment projects with the participation of Singaporean companies and 5 enterprises with the participation of Singaporean capital have been registered in Turkmenistan.”

The president of Turkmenistan expressed confidence that the agreements achieved during the first Turkmenistan-Singapore business forum on August 26 would provide a platform for further productive joint work.

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