Press Statement
Robert D. Hormats
Under Secretary for Economic, Energy and Agricultural Affairs
Remarks at Brookings-Caixin Conference
Washington, DC
May 2, 2012

As the Under Secretary of State for Economic Growth, Energy and the Environment, I would like to convey greetings to President Berdimuhamedov [Ber-dee-moo-ha-MEH-duff] and welcome you to the second U.S. Business Exhibition in Turkmenistan. Representatives of over 100 U.S. companies have gathered in your beautiful capital city to showcase their goods and services, as well to demonstrate their commitment to world-class quality and customer service standards.

The commercial relationship between our two countries is a high priority for Secretary of State Hillary Clinton. This year, as our two nations celebrate 20 years of diplomatic relations, U.S. companies look forward to continuing and expanding partnerships with the Government of Turkmenistan and private sector companies. We believe that the increased involvement of U.S. companies in Turkmenistan’s economy will further contribute to Turkmenistan’s already impressive economic growth and prosperity.

Turkmenistan’s vast hydrocarbon resources will continue to represent the major share of Turkmenistan’s exports for many years to come. U.S. oil and gas companies are leaders in hydrocarbon exploration and production the world over, and many of them are building partnerships with Turkmen state oil and gas companies to develop your country’s resources more successfully, safely, and efficiently. By working with U.S. companies, Turkmenistan will not only strengthen its own economy, but it will also enhance energy security in the region and beyond.

In addition to Turkmenistan’s oil and gas sectors, your nation’s agriculture, transportation and communications, construction, textiles, and retail sectors have also seen significant growth since Turkmenistan’s independence 20 years ago.

U.S. companies, such as those participating in the exhibition this week, stand ready to bring their experience, know-how, and state-of-the-art technologies to Turkmenistan’s emerging markets.

I congratulate you all on this week’s exciting events and wish you health and continued success in all your endeavors.