Today, a Memorandum of Understanding was signed between the Governments of Turkmenistan and Azerbaijan on joint exploration, development and development of the “Dostluk” hydrocarbon field in the Caspian Sea, the State News Agency of our country reports.

The Memorandum was signed by the Minister of Foreign Affairs of Turkmenistan Rashid Meredov and the Minister of Foreign Affairs of the Republic of Azerbaijan Jeyhun Bayramov.

On the occasion of the signing of the Memorandum, President of Turkmenistan Gurbanguly Berdimuhamedov and President of Azerbaijan Ilham Aliyev held a video meeting today.

In accordance with the publication “Orient”, the Turkmen leader noted that “the Memorandum is the result of many years of work carried out by our countries, and that this work is aimed at unlocking the huge potential of the two largest energy powers and creating favorable conditions for the development of sustainable energy in the Caspian Sea region”.

Agreements on cooperation at the “Dostluk” field were reached during the official visit of the President of Turkmenistan in March 2020 to Baku.

“These decisions will go down in the history of relations between our states as a vivid example of true good-neighborliness, responsibility and foresight, equality,” Gurbanguly Berdimuhamedov said, noting that in the Turkmen and Azerbaijani languages “dostluk” means “friendship”, which is deeply symbolic.

The head of our state stressed that the signing of the Memorandum opens a new stage in energy cooperation between Turkmenistan and Azerbaijan in the Caspian Sea, and these are new opportunities for joint work on a solid international legal basis, additional incentives for large foreign investments, the development of the national economies of the two countries.

The transport sector is a critical partnership in this area. Today, Turkmenistan and Azerbaijan, together with Afghanistan, Georgia and Turkey, are working on the effective functioning of the transport Lazurite corridor connecting Asia and Europe.

Turkmenistan and Azerbaijan are also among the initiators of the creation of the Caspian Sea - Black Sea transport system.

President Gurbanguly Berdimuhamedov, addressing his colleague Ilham Aliyev, expressed confidence that the joint work of Turkmenistan and Azerbaijan at the ”Dostluk” field will be successful and effective.