TEHRAN - Iranian and Turkmen officials signed several cooperation documents and agreements worth $900 million in various fields at the end of the two countries’ 17th Joint Economic Committee meeting in Ashgabat on Saturday evening.

The documents were signed by Iranian Minister of Transport and Urban Development Mehrdad Bazrpash and Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs of Turkmenistan Rashid Meredov as the heads of the mentioned committee, IRNA reported.

Also, two agreements in the field of road construction worth $550 million, as well as the construction of a power transmission line and supply of electrical equipment worth $340 million, were signed by the authorities of the two countries.

Speaking to the press after the closing ceremony of the committee meeting, Bazrpash said: “The agreements made with Turkmenistan were beyond expectation and various issues were discussed in six committees over the past few days.”

Stating that gas export was one of the strategic issues discussed between the two countries, he added: "A very good agreement was reached and the Turkmen side promised to increase the amount of gas exports to Iran."

Referring to the implementation of infrastructure projects in Turkmenistan by Iranian companies, Bazrpash said: "It was decided that the Turkmen side would settle its payments with Iranian companies by bartering gas, which is a very big step in the relations between the two countries."

“In the field of transportation, it was also agreed that the daily traffic of wagons from Sarakhs border will increase to 600 wagons and from Incheh-boroun to 100 wagons, and with the presence of the managers of the two countries, the problems of wagon traffic at the border will be solved,” the official added.

The 17th meeting of the Iran-Turkmenistan Joint Economic Committee began in Ashgabat on November 17 with the participation of the Iranian transport minister and the Turkmen foreign minister and wrapped up on November 18.

The Iranian minister has described Turkmenistan as a strategic partner for Iran and called for taking a key step towards further bilateral relations between the two countries.

Bazrpash made the remarks in a meeting with Turkmenistan’s President Serdar Berdimuhamedow in Ashgabat on Friday, prior to the two countries’ 17th Joint Economic Committee meeting.

In the meeting, Bazrpash elaborated on the “Iran Way Initiative" made by the current Iranian government.

As the minister said, the Iran Way Initiative lets the neighboring countries use Iran as a route or a solution that facilitates their access to international waters.

He went on to say that Turkmenistan has a special position in this initiative.

Earlier that day, Bazrpash attended the opening ceremony of a specialized exhibition of the achievements of the Iranian companies called “Iran Project” in Turkmenistan’s capital.

Speaking on the sidelines of the mentioned event, Bazrpash said the trade between Iran and Turkmenistan is expected to reach $1.0 billion in the near future.

He put the current level of trade between the two sides at $500 million, saying: “Today, in the negotiation with the president of Turkmenistan, it was mentioned that with the potential that exists on the Iranian side and the wide border that exists between Turkmenistan and Iran, this number can increase quickly.”

Later that day, at the opening ceremony of the two countries’ 17th Joint Economic Committee meeting, Bazrpash expressed Iran's readiness to export technical and engineering services to Turkmenistan, saying:

Iran Way Initiative is the gateway to Iran's land of transit opportunities.

He said the committee meeting is a turning point in the path of strengthening and developing all-round economic relations between the two countries.

The minister emphasized that the relations between the two countries are based on civilizational, historical, cultural, social, ethnic, and religious ties and geopolitical and geo-economic neighborliness.

According to the official, considering the successful diplomatic and economic relations based on common capacities and interests, the two countries’ relations go beyond neighborhood.

With joint initiatives, the position of the two countries as strategic and reliable partners can be strengthened and improved day by day, he said.

“Among these initiatives in the field of transport, logistics, and transit is the Iran Way initiative which was launched by the Islamic Republic of Iran in regional and extra-regional economic, commercial, and transit events and meetings, including the recent meeting of the ECO transport ministers that took place in Tashkent,” Bazrpash elaborated.

On the second day of the Joint Economic Committee meeting on Saturday, Bazrpash and Turkmenistan’s Foreign Minister Rashid Meredov, who are the heads of the mentioned committee, held talks to exchange final views on the agreements reached between the two sides during the event.

In this meeting, the two sides reviewed the issues raised in the committee meeting and the finalized documents for signing. 

Later on Saturday, the two officials attended an Iran-Turkmenistan business forum, in which the private sectors of the two countries explored avenues of mutual cooperation.

Speaking in this forum, Bazrpash referred to the flourishing of commercial relations between Iran and Turkmenistan, and said: “We hope to witness the conclusion of several commercial contracts between the sides.”

Meredov for his part expressed his country's interest in developing relations with Iran proposed the creation of a joint economic zone and invited Iranian companies to participate in Turkmenistan's projects.

EF/MA

Photo: Iranian Transport Minister Mehrdad Bazrpash (L) and Turkmen Foreign Minister Rashid Meredov pose with signed documents in Ashgabat on Saturday.