Korea, Turkmenistan sign 13 deals across investment, energy, security
Summary
Korea and Turkmenistan signed 13 agreements and memorandums of understanding on Tuesday, deepening cooperation in investment, energy and security. The deals came during a bilateral summit between President Lee Jae Myung and President Serdar Berdimuhamedow ahead of the first Korea-Central Asia Summit on Wednesday. Lee said Korea will help turn Turkmenistan's resources into value-added industries and jobs. Berdimuhamedow reaffirmed support for Lee's North Korea policy and peaceful dialogue on the Korean Peninsula.
Key Facts
- The two countries signed an investment promotion and protection agreement that grants most-favored-nation treatment and sets procedures for investor-state dispute settlement.
- An infrastructure MOU is expected to help Korean firms enter major energy, construction and logistics projects, while a water resource management MOU will expand Korean water management technology to Turkmenistan.
- The agreements also covered the chemical industry and plants, railway transportation, combating transnational organized crime, public security, customs cooperation and mutual assistance, digital forest restoration and climate response, comprehensive intellectual property, legal cooperation and youth cooperation.
President Lee Jae Myung shakes hands with Turkmenistan President Serdar Berdimuhamedow at Cheong Wa Dae, Tuesday. Yonhap
Korea and Turkmenistan signed 13 agreements and memorandums of understanding (MOUs) on Tuesday, deepening bilateral cooperation across investment, energy and security.
The signings came during a bilateral summit between President Lee Jae Myung and President Serdar Berdimuhamedow of Turkmenistan, held ahead of the first Korea-Central Asia Summit set for Wednesday.
The two countries signed an investment promotion and protection agreement, granting most-favored-nation treatment and establishing procedures for investor-state dispute settlement.
The infrastructure MOU is expected to help Korean firms enter major energy, construction and logistics projects, while the water resource management MOU will expand Korean water management technology to Turkmenistan.
MOUs were also signed on cooperation in the chemical industry and plants, railway transportation, combating transnational organized crime, and public security. An agreement on customs cooperation and mutual assistance targets crimes such as smuggling, while an MOU on border-level intellectual property protection targets counterfeit goods bearing the two countries' key brands.
MOUs on digital forest restoration and climate response, comprehensive intellectual property, legal, and youth cooperation were also signed.
"Korea will work together so that Turkmenistan's abundant resources lead to high value-added industries and jobs, and so that the land connecting the Caspian Sea and Central Asia becomes a new crossroads for logistics and trade," Lee said.
Lee also thanked Turkmenistan for helping Korean nationals evacuate from Iran amid regional turmoil. In March, about 30 Koreans fled Iran to Turkmenistan by land, with the country designating a dedicated checkpoint for their entry.
Berdimuhamedow said he valued Korea's consistent support for Turkmenistan's initiatives on the international stage, reaffirming his support for Lee's North Korea policy known as the END Initiative, which stands for exchange, normalization and denuclearization.
"We have consistently maintained the position that all issues on the Korean Peninsula must be resolved through peaceful dialogue and diplomatic means, and we will continue to do so," he added.
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