UAE willing to pass development model to Turkmenistan: Mansouri

Ashgabat, Jan 8, 2009 (WAM) - Visiting UAE Minister of Economy H.E. Sultan bin Saeed Al Mansouri held talks here yesterday with Deputy Prime Minister of Turkmenistan for Energy and Construction Orazov Derya over ways of expanding bilateral economic cooperation and increasing volume of investment between private sector companies in the two countries.

The two ministers discussed obstacles the UAE companies are facing in Turkmenistan and the Asian country's economy can tap UAE corporate expertise in supporting government development and investment plans.

Al Mansouri is leading a high-ranking delegation representing top government officials and executives of private sector companies specialising in real estate, oil investment, trade and aviation to Turkmenistan to explore mechanisms of boosting bilateral cooperation in various domains.

''UAE companies are exploring investment opportunities in Turkmenistan in the fields of real estate, tourism, industry and gas. UAE companies of high know-how are interesting to pass their model in real estate and tourism development to Turkmenistan,'' he said, affirming that these obstacles should be removed to allow UAE private capital in.

The Turkmen official said his country needs expertise of major UAE contracting companies to compete in tenders offered by the government in areas of infrastructure and health.

''The government is planning to put out more bids in various region of the country and is willing to forge constructive cooperation with UAE investment firms,'' he added, hoping the two countries would formulate a taskforce to discuss requirements of these projects.