President Park Geun-hye said that cooperation between Korea and Turkmenistan, based on Korean technology and abundant Turkmen natural resources, should be encouraged and would become a successful example for economic cooperation, during her state visit to the country on June 20.

"Korea and Turkmenistan can develop our relationship to make it a more future-oriented partnership that can bring win-win results," emphasized President Park during a banquet at the presidential palace in Ashgabat hosted by President Gurbanguly Berdimuhamedow.


President Park said during the banquet that she could truly understand Turkmenistan, as the nation has a tradition of considering visitors to be god-sent and of treating them with warm hospitality. She also added that, "Now I see the capability and possibility of Turkmenistan, the birthplace of the ancient Margush, or Margu, civilization, center of the famed Silk Road and a nation that has seen outstanding economic growth over recent years."

The Korean president said that, according to the East Asian zodiac, this year marks the year of the blue horse, which occurs only once every 60 years. She added that, "Just like the Akhal-Teke, the renowned Turkmen breed of horse, the year 2014 will hopefully become a landmark year for the relationship between our two countries."

On the same day, the two heads of state held a summit meeting where they agreed to expand the participation of Korean companies in Turkmen national development projects. In addition, the two sides vowed to improve cooperation between private companies and to expand the volume of trade and investment flowing between their countries, in order to build a more substantive relationship. The two countries also agreed to move forward the signing of two important agreements: the Double Tax Avoidance Agreement and the Investment Promotion and Protection Agreement.



Moreover, the two sides promised to work together to develop substantive cooperation in the fields of agriculture, transportation, architecture, and science and technology, as well as education. The two nations also agreed to closely cooperate on the successful hosting of the 5th Asian Indoor and Martial Arts Games, set to open in Turkmenistan in 2017.

The Turkmen president showed his support for the Korean government's Eurasia Initiative, an effort to seek both economic growth across Eurasia and the reunification of Korea, and he also supported the president's policies related to the current situation on the Korean Peninsula.

Following the summit, the two sides signed a number of deals to spur economic ties. The signed MOUs included deals on a chemical plant worth two billion dollars, a gas chemical and liquefaction plant totaling three billion dollars, the right to sell plastic chemicals in Korea produced in Kiyanly, and more.

By Wi Tack-whan, Lee Seung-ah
Korea.net Staff Writers
whan23@korea.kr