Ashgabat, London sign convention on double taxation avoidance
Turkmenistan and the UK signed an intergovernmental convention in Ashgabat on avoidance of double taxation and prevention of fiscal evasion from taxes on income and capital gains, said the Turkmen foreign ministry in a message June 10.
According to the ministry, the signing ceremony took place as part of a meeting of the Turkmen-British Trade and Industry Council.
London was represented by Baroness Emma Nicholson, British prime minister’s trade envoy for Turkmenistan, and Ronald Nash, ambassador, co-chairman of the Turkmen-British Trade and Industry Council.
The heads and representatives of the Turkmen ministries and agencies, representatives of the two countries’ leading companies and financial circles specializing in the fuel and energy industry, transport and communication, and construction sectors attended the meeting.
According to the message, the representatives of the Turkmen-British Trade and Industry Council, who addressed the event, pointed to the common interests in such key areas of cooperation as investment, energy, and transport.
“As a major exporter of high technologies, goods and capital, the UK is interested in the import of chemical products and energy resources,” the message said.
Such UK companies as British Expertise International, Aggreko, Arempa International Ltd (FZE), Buried Hill, De La Rue, Global ATS Ltd, Industrial Power Group, JTA, Rapiscan Systems Ltd, Tensar, The City UK, and others were represented in the forum.
The UK companies have recently participated in the implementation of a number of major investment projects in Turkmenistan, including exploration and development of oil and gas fields, and boosting the gas export potential of the country.