BAKU, Azerbaijan, September 10. The untapped export potential between Turkmenistan and Russia is estimated at more than $30 million on the part of Turkmenistan and over $200 million on the part of Russia, the Deputy Minister of Economic Development of Russia, Dmitry Volvach said at the panel discussion "Economic Development and Investment Potential of Turkmenistan" during the Turkmenistan Investment Forum (TIF 2024) in Ashgabat, Trend reports.
“The task of diversifying Turkmenistan's economy coincides with Russian interests in importing products of chemical, agricultural, and textile industries. Turkmenistan's untapped export potential to Russia is estimated at more than $30 million.
Russia's unrealized export potential to Turkmenistan exceeds $200 million. The products offered by the Russian market are in demand in Turkmenistan's major infrastructure projects, such as the renewal of railroad rolling stock, construction of new highways, and modernization of the gas transportation system. Russia is ready to increase the volume of non-resource exports, including machinery and equipment for the oil and gas industry,” he said.
To note, the Turkmenistan Investment Forum (TIF 2024) is being held in Ashgabat from September 10-11 and serves as an important platform for attracting investment into the country's economy. The organizers are the Ministry of Finance and Economy, the Ministry of Foreign Affairs, and the Chamber of Commerce and Industry of Turkmenistan. The forum is attended by representatives of leading international companies and organizations. The main focus is on attracting investments in the hydrocarbon sector, the TAPI project, gas chemistry, electric power, construction, and transportation.
The program includes parallel thematic sessions with the participation of experts from UN specialized agencies, S&P Global Commodity Insights, and the World Trade Organization. In parallel, there is an exhibition of economic achievements.
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