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Ashgabat, Ankara expand trade partnership

Business Materials 26 November 2012 16:08 (UTC +04:00)

Turkmenistan, Ashgabat, Nov. 26 / Trend H. Hasanov /

Turkmen President Gurbanguly Berdimuhamedow has recently received the head of the Turkish Union of Chambers and Commodity Exchanges Rifat Hisardzhiklyoglu, the Turkmen government reported on Monday.

Ankara's representative at the meeting 'expressed the deep interest of the Turkish government and business circles in steadily broadening mutually beneficial cooperation with brotherly Turkmenistan, demonstrating a steady growth of the national economy throughout the years', the statement said.

The sides exchanged views on ways to intensify business contacts. In particular enhancing the participation of leading Turkish companies in the implementation of major transport projects and development of modern sea, land and transport infrastructure were discussed in addition to such traditional areas of partnership as the textile industry, construction, electric power industry, the fuel and energy complex.

'The agricultural sector was noted as another promising direction of business cooperation', the information stated.

At the meeting of Cabinet of Ministers, the Turkmen leader highlighted the need to strengthen ties with foreign exchanges and chambers of commerce.

In September, it was noted that the Turkmen State Commodity and Raw Materials Exchange held 99 auctions within the first eight months of this year. Compared with the corresponding period last year, the amount of concluded export transactions increased by 33.5 per cent, while imports grew by 37.2 per cent. The volume of profit increased by 21.8 per cent in January-August 2012.

The traditional participants of auctions, exhibiting refining products and cotton are representatives from Azerbaijan, Great Britain, Russia, China, Turkey, Switzerland, Liechtenstein, Denmark, Kazakhstan and other countries.

The National Commodity Exchange is a principal state regulating body of export-import operations.

Turkmen leader also drew attention to the further development of the country's small and medium businesses and growth of its technological capabilities and creation of import replacing innovative production facilities in the country.

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