VZCZCXRO4736
PP RUEHAG RUEHBI RUEHCI RUEHDBU RUEHLH RUEHNEH RUEHPW RUEHROV RUEHSR
DE RUEHAH #0663 1481136
ZNY CCCCC ZZH
P 281136Z MAY 09
FM AMEMBASSY ASHGABAT
TO RUEHC/SECSTATE WASHDC PRIORITY 2868
INFO RUCNCLS/ALL SOUTH AND CENTRAL ASIA COLLECTIVE
RUCNCIS/CIS COLLECTIVE
RUCNMEM/EU MEMBER STATES COLLECTIVE
RUEHAK/AMEMBASSY ANKARA 5227
RUEHBJ/AMEMBASSY BEIJING 2967
RUEHKO/AMEMBASSY TOKYO 2832
RUEHIT/AMCONSUL ISTANBUL 3471
RUCPDOC/DEPT OF COMMERCE WASHDC
RHEHNSC/NSC WASHDC
RHMFISS/CDR USCENTCOM MACDILL AFB FL
RUEAIIA/CIA WASHDC
RHEFDIA/DIA WASHDC
RUEKJCS/JOINT STAFF WASHDC
RUEKJCS/SECDEF WASHINGTON DC
RUEHVEN/USMISSION USOSCE 3572

C O N F I D E N T I A L ASHGABAT 000663 
 
SIPDIS 
 
STATE FOR SCA/CEN, EEB 
 
E.O. 12958: DECL: 05/27/2019 
TAGS: PREL EFIN CVIS EXIM TX AZ TU
SUBJECT: TURKMENISTAN:  RUMORS OF VISA TROUBLES AS CITIBANK 
GETS SERIOUS ABOUT FINDING BUSINESS 
 
REF: 08 ASHGABAT 1056 
 
Classified By: Charge Richard Miles, reasons 1.4 (B) and (D). 
 
¶1.  (C) The Relationship Manager of Citibank's Central Asia 
and Transcaucasia Department, Sinan Tan (please protect), 
said in a meeting on May 14 that he was meeting with 
representatives of the European Bank for Reconstruction and 
Development, Vneshekonombank, Senagatbank, and 
Turkmenbashybank.  For the first time, the Central Bank 
turned down his request for a meeting, citing lack of time 
due to a busy schedule.  Tan had intended to introduce Juma 
Ahmadzade, who would henceforth cover Turkmenistan and 
Georgia from Citibank's Baku office.  Tan and Ahmadzade 
applied for visas at the same time, but Ahmadzade's 
application was rejected -- for unspecified reasons, as usual 
-- and Vneshekonombank also confirmed to Tan that Ahmadzade 
would not receive a visa.  Tan said that Ahmadzade was 
assigned to cover Turkmenistan because Citibank realized that 
the language barrier for Turkish nationals covering 
Turkmenistan out of Istanbul was a major stumbling block to 
opening up new business in Turkmenistan.  He and his 
colleagues often found themselves having to explain products 
to decision makers in Turkmen organizations who did not speak 
English.  Tan said that Citibank would have to rethink its 
strategy for finding new business in Turkmenistan if 
Ahmadzade could not obtain Turkmen visas at this point or in 
the future.  This is a distinct possibility since one 
rejection is generally a sign that a person will never 
receive a visa. 
 
¶2.  (C) Tan said that Citibank wanted to open lines of credit 
during his last visit in August 2008 (reftel), but the timing 
was bad for Citibank because of the international financial 
crisis.  Currently, Citibank only has the ability to transact 
a cash business in Turkmenistan, and provides correspondent 
banking services to Vneshekonombank and the Central Bank. 
Tan said that Citibank might be able to enter into some 
transactions for Turkmenistan with EXIM Bank, if Citibank can 
find the right kind of Letter of Credit business to present 
to EXIM Bank.  He also said that if the Treasury of 
Turkmenistan was willing to complete a sovereign transaction 
guarantee, Citibank might be able to conduct such 
transactions with EXIM Bank, Overseas Private Investment 
Corporation, and other export credit agencies.  He said that 
U.S. companies prefer Letters of Credit issued by U.S. banks, 
which would then open the door to an increase in trade. 
 
¶3.  (SBU) COMMENT:  Citibank is serious about the Turkmen 
market.  Tan added that he would like to organize a visit for 
the bank's senior officials -- including the CEO for Europe 
-- to Turkmenistan, since they would be in the region for a 
banking event in fall 2009.  However, the overcomplicated 
visa regime remains a serious barrier to commerce with other 
countries.  END COMMENT. 
MILES