Turkmenistan's exports to the Russian Federation increased by 21%: by a third in agricultural products, half in chemical products
In 10 months of 2023, the mutual trade turnover between Turkmenistan and the Russian Federation in physical terms increased by 8% to 535 thousand tons. At the same time, Russian exports increased by 5.5%, while imports from Turkmenistan increased by 21%. Supplies from Turkmenistan to Russia for food products and agricultural raw materials increased by 33%, for chemical industry products – by 57%, Russian Deputy Minister of Economic Development Dmitry Volvach said during the 9th meeting of the High-level Group on Trade and Investment Support within the framework of the Intergovernmental Russian-Turkmen Commission on Economic Cooperation.
During the meeting held in Moscow last week, the parties discussed issues of developing trade and economic cooperation, conditions for improving mutual trade, promising joint projects in the fields of industry, energy, construction, state cadastre, as well as in the educational sphere, according to the website of the Ministry of Economic Development of the Russian Federation.
"Russia is interested in developing cooperation with Turkmenistan, is ready to implement joint projects, supply various products, expand areas of investment cooperation," Dmitry Volvach noted. – In 10 months of 2023, the mutual trade turnover between our countries in physical terms increased by 8% to 535 thousand tons, exports by 5.5%, imports – by 21%."
"The bilateral economic potential is still great, and there are good opportunities for expanding cooperation both in the oil and gas and financial fields, as well as in a number of industries, agriculture, transport and other sectors of the economy," Deputy Minister of Trade and Foreign Economic Relations of Turkmenistan Kerimberdi Kurbanov stressed in turn.
The participants of the meeting analyzed the possibilities of Russian export support institutions to provide financial and non-financial support measures in the implementation of trade and investment contracts between Russian and Turkmen companies, reviewed the draft program of economic cooperation between the governments of Russia and Turkmenistan for 2024-2026.
According to Volvach, the Russian Ministry of Economic Development is currently monitoring 36 projects with Russian participation in Turkmenistan. Of these, 11 projects are at the operational stage, 21 projects are at the investment stage, and 10 projects are in the active stage of implementation. Additionally, 15 projects for the organization of supplies of various products are in varying degrees of readiness. 9 projects are being implemented in the infrastructure sector.
Among the largest and most successful projects, the Deputy minister named the construction of a complex of anti-mudflow structures that provides the capital of Turkmenistan with full protection from destructive mudflows and protection of urban development from mountain waters. 3 projects are being implemented in the oil and gas industry, 19 projects in industry, and a contract has been signed for the supply of more than 300 thousand tons of rolled metal products for the construction of the new city of Arkadag.
Russian companies are interested in expanding cooperation on modernization, reconstruction and new construction of energy facilities in Turkmenistan, in cooperation in the field of shipbuilding, supplies of mining equipment and mainline freight three-section locomotives to Turkmenistan, in the reconstruction of the Gyzylarbate wagon repair plant, as well as in the implementation of future projects for the modernization and electrification of railway lines in Turkmenistan, Volvach said.
"I would like to thank our Turkmen partners for their interest in integration issues. The Ministry of Economic Development of Russia is holding a series of introductory seminars in Turkmenistan on the functioning of the Eurasian Economic Union and its advantages," the Deputy Minister stressed. – At the moment, 14 online seminars on various issues of Eurasian economic integration have already been held at the site of the Ministry of Economic Development of Russia."
The meeting participants also discussed in detail the agenda of the meeting of the Intergovernmental Russian-Turkmen Commission on Economic Cooperation, which will be held in Ashgabat at the end of January 2024.
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