Turkmenistan, South Korea Sign Bilateral Cooperation Agreements in Seoul

Seoul, The Gulf Observer: Turkmenistan and South Korea have signed a package of bilateral agreements and memorandums of understanding following talks between Turkmen President Serdar Berdimuhamedov and South Korean President Lee Jae Myung in Seoul, Turkmen state media reported Tuesday.

The documents were exchanged in the presence of the two presidents and cover a broad range of sectors, including investment, industry, transport, water management, environmental protection, legal affairs and other areas of mutual interest.

Among the key agreements is an Agreement between the Government of Turkmenistan and the Government of South Korea on the Promotion and Protection of Investments, aimed at strengthening the investment framework between the two countries. The sides also signed an Agreement on Cooperation and Mutual Assistance in Customs Matters.

The state concern Türkmenhimiýa and South Korea’s Ministry of Trade, Industry and Resources signed a Memorandum of Understanding on cooperation in the chemical industry and industrial construction.

Additional documents were concluded on water resources management, intellectual property, law and justice, infrastructure, rail transport, digital forest restoration and cooperation in combating climate change.

A separate package of agreements and memorandums was signed between Turkmen government agencies, educational institutions and organizations, and South Korean companies.

In particular, the Turkmenbashi Complex of Oil Refineries and YUHANTECH CO., LTD signed a Memorandum of Understanding on innovation in maintenance and improving production efficiency.

Turkmenistan’s Ministry of Automobile Transport signed an MoU with Hyundai Corporation, while the Ministry of Communications concluded an MoU with LS Cable & System. The State Committee for Water Management also signed a memorandum with Daewoo Engineering & Construction Co., Ltd.

The two sides further concluded cooperation documents covering shipbuilding, aviation, science, education, academic exchanges, mass media and culture.

President Serdar Berdimuhamedov arrived in Seoul to participate in the first Central Asia–South Korea Summit, providing an additional platform for strengthening relations between Turkmenistan, South Korea and the Central Asian region.