Today, President Serdar Berdimuhamedov met with the head of the Islamic Development Bank (IDB), Muhammad Al Jasser.

Expressing his sincere gratitude to the President for the opportunity to discuss priority areas of cooperation, Al Jasser confirmed the IDB's commitment to strengthening its long-standing partnership with Turkmenistan. He highlighted Turkmenistan’s constructive policies, grounded in positive neutrality, and its progressive socio-economic reforms and large-scale infrastructure projects.

Taking the opportunity, Al Jasser congratulated President Serdar Berdimuhamedov and National Leader Gurbanguly Berdimuhamedov on the upcoming 33rd anniversary of Turkmenistan's independence, extending his best wishes on this occasion.

Warmly welcoming the IDB president, President Berdimuhamedov expressed confidence that the meetings held during Al Jasser's visit to Ashgabat would be fruitful and foster a constructive exchange of views on the future of bilateral partnerships.

The President emphasized that international cooperation, particularly with reputable financial institutions and banking organizations, plays a crucial role in Turkmenistan's economic development strategy. The collaboration with the IDB has been effective and long-term. This year marks 30 years since Turkmenistan became a member of the IDB. Over this period, the bank has financed more than 20 key projects in the country, focusing on healthcare, education, transportation, communications, and energy.

President Berdimuhamedov noted that improving public health and increasing life expectancy are priorities of Turkmenistan's state policy. Significant work is being done in the national healthcare system to achieve these goals. The IDB has played a role in developing medical and health infrastructure projects, and there are promising opportunities for further investment cooperation in this area.

During the exchange of views on key areas of partnership, the energy sector was highlighted as a priority for future collaboration. Turkmenistan, rich in natural resources, remains committed to diversifying this sector. Opportunities for cooperation in the oil and gas industries were discussed, with the implementation of projects in these areas set to boost productive economic cooperation both regionally and globally.

Turkmenistan is also working extensively in the field of clean, environmentally friendly energy, presenting ample opportunities for cooperation with the IDB on sustainable energy projects and initiatives.

The transport sector was also identified as a promising area for collaboration. Turkmenistan’s strategic geographic location provides a strong foundation for the development of its transport and logistics infrastructure. Multimodal regional and international transport corridors along the North-South and East-West routes are being developed. The expansion of international transport through the Caspian Sea was emphasized, with significant potential to increase the capacity of the Turkmenbashi International Seaport, connecting Asia and Europe. Turkmenistan is ready to consider the IDB's proposals for participating in transport and transit corridor projects.

Additionally, projects in internet and telecommunications system development were discussed within the framework of cooperation with the IDB.

There are broad prospects for strengthening IDB’s partnerships with Turkmenistan’s banks and private sector. It was deemed beneficial to intensify cooperation in providing financial and advisory services for the development of small and medium-sized businesses.

In conclusion, both President Serdar Berdimuhamedov and IDB head Muhammad Al Jasser expressed their confidence that the mutually beneficial cooperation between Turkmenistan and the IDB would continue to expand, enriched with new, tangible initiatives.

Business Turkmenistan