The 5th Saudi-Turkmen Joint Committee for Economic and Trade Cooperation started here today the meetings under co-chairmanship of Saudi Arabia's Minister of Commerce and Investment Dr. Majed bin Abdullah Al-Qasabi and Turkmenistan's Deputy Prime Minister Maksat Babaev, in participation of a number of Saudi and Turkmen officials and businessmen. During the meeting, the Saudi Minister of Commerce and Investment stressed that the two countries must consolidate and develop trade exchange and joint cooperation in all fields due to great potentials in the two countries and the promising opportunities of the Kingdom Vision 2030. The two sides discussed ways of enhancing joint cooperation between the two countries and develop partnership among the private sectors. The Saudi and Turkmen sides co-signed a minutes of the joint committee between the two countries. On the sidelines of the meeting, a national export funding agreement was signed between the Saudi Fund for Development and the State Bank for Foreign Economic Affairs of Turkmenistan with $40 million. An agreement of implementing pipeline project was signed between the Saudi Global Pipe Company (GPC) and the national gas company of Turkmenistan (Turkmengaz) in addition to another agreement between Saudi Aramco and Turkmengaz.
