Turkmenistan /Memorandum of Understanding on Cooperation between NEXI and TFEB

October 26, 2015

Nippon Export and Investment Insurance

Turkmenistan / Memorandum of Understanding on Cooperation between NEXI and TFEB

Nippon Export and Investment Insurance (NEXI) signed a memorandum of understanding (MOU) with the State Bank of Foreign Economic Affairs of Turkmenistan (TFEB) on cooperation to promote trade and investment between Japan and Turkmenistan.

The signing ceremony was held in Ashgabat, the capital of Turkmenistan, on October 23 in the presence of Prime Minister Shinzo Abe of Japan and President Gurbanguly Berdimuhamedov of Turkmenistan.

The purpose of this MOU is to expand business opportunities for both countries, including implementation of projects related to much-needed petrochemical and fertilizer plants which leverage Turkmenistan's abundant natural gas, by building a cooperative relationship between NEXI and TFEB. It is also expected to boost friendship and partnership between the two countries.


Turkmenistan possesses the world's fourth largest reserves of natural gas resources and is expected to experience robust economic growth thanks to its expanding exports and production of natural gas as well as high value-added petrochemical products derived from natural gas.

NEXI has provided both export insurance and loan insurance for five major projects arranged by the government of Turkmenistan in the past five years and supported Japanese companies' plant exports and Turkmenistan's economic growth.

There are a number of new project under consideration to best utilize its abundantly available natural gas in Turkmenistan and these new projects are drawing much interest among Japanese companies. Since demand for NEXI's trade insurance is expected to grow, reflecting Japanese companies' expanding exports to Turkmenistan, NEXI has decided to enter into MOU with TFEB to facilitate information sharing between the two countries to ensure sustainability and stability of insurance underwriting.

<Summary of MOU>

This MOU is intended to establish a framework for the development of cooperation between NEXI and TFEB.

Under this MOU, NEXI and TFEB will exchange views and information, make proposals for projects in which the two countries can cooperate and aim to agree on a concrete framework to implement these projects.

In order to lay the groundwork for the above purpose, NEXI and TFEB will share knowledge of country risk analysis related to specific transactions, exchange opinions on enhancing cooperation in the areas of interest, train staff and carry out mutual visits.