With which overseas market did UK bilateral trade in goods increase by 200% in 2012?
The answer is Turkmenistan, whose International Investment Forum I and colleagues including Ron Nash, UK co-Chair of the Turkmenistan UK Trade and Industry Council, attended in Istanbul on 5-6 March.
There is huge interest in Turkmenistan’s massive natural gas reserves (the 4th largest in the world) together with construction opportunities arising from the country’s major infrastructure programmes.
Because Turkey and Turkmenistan share close historical and cultural ties, as well as being in the same region, there are important bonds between the two countries. More than 600 Turkish companies are engaged on 1,400 projects, including many major construction projects in the fields of transport, ports, health, education, housing and sport. Some British companies are helping Turkish primary contractors in important projects e.g. the planned Olympics complex.
The British Prime Minister’s Trade Envoy, Charles Hendry, led a sports mission to Ashgabat in January to showcase British expertise and signed a Memorandum of Understanding on Cooperation in Sport. Yellow UK-made JCB construction machinery is also visible on many construction sites in Ashgabat.
The British Embassy in Ashgabat and the Consulate-General in Istanbul are keen to help British Companies and Turkish Companies which want to work together in Turkmenistan. Contact us on either of the links above if you need advice or help.