Turkmenistan signs MOA with UAE’s Abu Dhabi Development Fund

Turkmenistan and the United Arab Emirates, headed by the UAE chief representative – Minister of Foreign Affairs and International Cooperation – Sheikh Abdulla Bin Zayed Al Nahayan, have signed a Memorandum of Understanding (MOA) on broad issues of bilateral economic cooperation.

The agreement, signed in the capital, Asghabat, covers trade, economic, fuel, energy, transport and communications, as well as banking and the finance sector, in addition to cultural and humanitarian issues.

The MOA was reported by the official state news agency Turkmenistan Today.

The agency said President Gurbanguly Berdimuhamedov welcomed the expansion of UAE-Turkmen cooperation in the investment field, particularly in fuel and energy, as well as road and railway construction.

The country, hitherto one of the most closed in the world, appears to be very gradually emerging from decades of economic isolation.