Turkmen – Singapore business forum, which was timed to the visit of President Gurbanguly Berdimuhamedov to this country, started working in Singapore.

More than 40 big companies of Singapore took part in business meeting in the conference hall of Shangri-La Hotel. Specialization of the companies is rather broad. This is production of equipment for oil and gas, chemical, energy, agricultural and food production spheres, construction industry, shipbuilding, transport and communication sphere, trade, banking business, development of software, engineering and other.

Turkmenistan was represented by the heads and specialists of different ministries and departments and members of the Union of Industrialists and Entrepreneurs.

The forum was opened by Teo Xyong Xeng, the Chairman of Singapore Business Federation, which unites more than 25,800 companies as well as the main local and foreign business chambers.

In his speech, he noted that current forum gives good opportunities for study of capabilities of cooperation and investment collaboration. According to his words, trade between Turkmenistan and Singapore was 43.4 billion US dollars in 2018, which is 5 times higher than in 2016.

Being one of the most rapidly growing economies in Central Asia with huge natural resources, Turkmenistan represents huge economic potential for establishment of trade and investment relations, Teo Xyong Xeng said, having announced the signing of the Memorandum of Understanding on cooperation between Singapore Business Federation and Trade and Industrial Chamber of Turkmenistan.

In this context, such priority spheres as oil and gas sphere, energy, chemistry, construction, transport and logistic, agriculture have been mentioned.