ABU DHABI: The president of Turkmenistan said his country is interested in increasing bilateral trade with the UAE, given its strategic location, its outstanding relations with countries around the world, and its highly qualified workforce.
Speaking at the UAE-Turkmenistan Business Forum, President Serdar Berdimuhamedov also praised the existing economic ties between the two countries, the Emirates News Agency reported on Tuesday, and highlighted his country’s focus on exploring new opportunities for economic cooperation in various industries, including energy, trade and green energy.
The forum was organized by Abu Dhabi Chamber of Commerce and Industry in cooperation with the Ministry of Foreign Affairs and International Cooperation, Turkmenistan’s embassy, and the Abu Dhabi Department of Economic Development.
The participants discussed opportunities for new economic partnerships for the business communities in the two countries. Other key topics included ways to increase trade exchanges, attract investment, and explore new opportunities for collaboration.
“Our business communities are keen to explore promising opportunities that increase mutual trade and investment and launch joint projects and initiatives,” said the UAE’s minister of state for foreign trade, Thani Al-Zeyoudi.
“Today, we have a comprehensive cooperation plan that we are working to enhance with our partners in the Turkmen government and private sector.”
Abdullah Mohammed Al-Mazrouei, president of UAE Federation of Chambers of Commerce and Industry and chairman of Abu Dhabi Chamber of Commerce and Industry, said: “The UAE and Turkmenistan have solid and robust economic relations. The UAE is a major trading partner of Turkmenistan, with bilateral non-oil trade reaching $255.3 million in 2021.
“This figure is expected to grow, considering the keenness of both countries to explore more elements of development, expansion and promising opportunities in all sectors, especially (given) that Turkmenistan is located in a strategic geographical location in Central Asia, with promising markets that allow investors from the UAE to explore key investment opportunities.”
The UAE is a likewise a gateway to markets in its region, he added, thanks to its exceptional geographical location that links East with West, and it has a flexible and diverse economy that offers many perks and incentives for foreign investments.
“We need to have a joint road map, form joint advisory committees, activate the UAE-Turkmenistan Business Council and increase its role in promoting business opportunities, and to increase our cooperation for more growth and development,” said Al-Mazrouei.
A number of agreements were signed during the forum, with the aim of enhancing cooperation between the UAE and Turkmenistan in a number of vital sectors. They included a non-disclosure agreement between the Agency for Transport and Communications, under the Cabinet of Ministers of Turkmenistan, and Abu Dhabi Ports Company; a joint-development agreement between Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan and renewable energy company Masdar, also known as the Abu Dhabi Future Energy Company; and a cooperation agreement between the State Bank for Foreign Economic Affairs of Turkmenistan and First Abu Dhabi Bank.
President of Turkmenistan praises economic ties with UAE and calls for trade boost
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President of Turkmenistan praises economic ties with UAE and calls for trade boost
- Speaking during the UAE-Turkmenistan Business Forum, Serdar Berdimuhamedov highlighted his country’s focus on exploring new opportunities for economic cooperation
- Delegates at the forum also discussed opportunities for new economic partnerships between the business communities in the two countries
Saudi ports brace for cargo surge as shipping lines reroute
RIYADH: Preliminary estimates suggest that several global shipping lines could reroute part of their operations to Saudi Arabia’s Red Sea ports, potentially adding 250,000 containers and 70,000 vehicles per month, according to Rayan Qutub, head of the Logistics Council at the Jeddah Chamber of Commerce, in an interview with Al-Eqtisadiah.
“Any disruption in the Strait of Hormuz not only affects maritime traffic in the Arabian Gulf but could also reshape global trade routes,” Qutub said, highlighting the strait’s status as one of the world’s most critical maritime chokepoints for energy and goods transport.
With rising regional tensions, international shipping companies are reassessing their routes, adjusting shipping lines, or exploring alternative sea lanes. This signals that the current challenges extend beyond the Arabian Gulf, impacting the global supply chain as a whole.
Limited impact on US, European shipments
The effects of these developments will not be uniform across trade routes. Qutub noted that goods from China and India, which rely heavily on routes through the Arabian Gulf, are most vulnerable to disruption. In contrast, shipments from Europe and the US typically traverse western maritime routes via the Suez Canal and the Red Sea, making them less susceptible to regional disturbances.
Saudi Arabia’s strategic location, he emphasized, strengthens the resilience of regional trade. The Kingdom operates an integrated network of Red Sea ports — including Jeddah, Rabigh, Yanbu, and Neom — that have benefited from substantial infrastructure upgrades and technological enhancements in recent years, boosting their capacity to absorb increased cargo volumes.
Red Sea bookings
Several major carriers, including MSC, CMA CGM, and Maersk, have already opened bookings to Saudi Red Sea ports, signaling a shift in operational focus to these strategically positioned hubs.
However, Qutub warned that rerouted shipments could increase sailing times. Cargo from Asia, which normally takes 30-45 days, might now require longer voyages via the Cape of Good Hope and the Mediterranean, potentially extending transit to 60-75 days in some cases.
These changes are also reflected in rising shipping costs, driven by longer routes, higher fuel consumption, and increased insurance premiums — a typical response when global trade patterns shift due to geopolitical pressures.
Qutub emphasized that Saudi Arabia’s transport and logistics sector is managing these developments through coordinated government oversight. The Ministry of Transport and Logistics, the Logistics National Committee, and the Logistics Partnership Council recently convened to evaluate the impact on trade and supply chains. Regular weekly meetings have been established to monitor developments and implement solutions to safeguard the stability of supplies and continuity of trade.
He noted that the Kingdom’s logistical readiness is the result of long-term strategic investments, encompassing ports, airports, road networks, rail systems, and logistics zones. Today, Saudi logistics integrates maritime, land, rail, and air transport, enabling a resilient response to global disruptions.
Qutub also highlighted the need for the private sector to continuously review logistics and crisis management strategies, develop alternative plans, and manage strategic stockpiles. Such measures are essential to mitigate temporary fluctuations in global trade and ensure smooth supply chain operations.
