AKIPRESS.COM - President of Turkmenistan Gurbanguly Berdymukhamedov and President of Hungary János Áder discussed opportunities for boosting trade at a meeting in Budapest on Wednesday, Xinhua reports.

Thus, President Áder noticed that Turkmenistan had the world's fourth largest natural gas reserve and that the European Union had reached an energy accord with Turkmenistan three years ago.

President of Turkmenistan, in turn, underlined his country's readiness to improve energy security in Europe. He also pointed out how important Turkmenistan considered stability and security.

He added that Turkmenistan is grateful for Hungary's support in international bodies such as the United Nations.

Áder also spoke about Turkmenistan's lack of water and offered Hungarian expertise in water management issues.

Berdymukhamedov proposed cooperation in oil and gas industries, and called for an intergovernmental committee to support economic cooperation as well as a joint business council to work directly with small and medium sized enterprises.

During the visit, both countries' officials signed an economic cooperation accord that includes the elimination of dual taxation, an educational, scientific and cultural cooperation agreement, and a foreign relations cooperation accord.