Trade between Turkmenistan and Turkey shows significant growth

Trade between Turkmenistan and Turkey shows significant growth

There is a substantial increase in mutual trade in economic relations between Turkey and Turkmenistan. This conclusion follows from the interview of the Chairman of the Turkmen-Turkish business Council Halil Avci to the Turkish TV channel NTV at  the program devoted to foreign economic relations.

– There is now a 45% increase [in trade turnover] over last year. Our exports amounted to US $ 565 million. We also import from Turkmenistan. Our imports are up to US $ 370 million, said the businessman, noting that by the end of year these figures may grow.

For comparison, the data, presented by the head to the Turkmen-Turkish business council, shows that the volume of export-import operations between the two countries in 2018 amounted to US $ 476 million.

Speaking about investment prospects in the Turkmen market, Halil Avci highlighted the modern agro-industrial complex actively developing in Turkmenistan. According to him, agriculture this year has become the most important factor in increasing exports due to investment in greenhouses.

Commenting on the future agenda of the trade partnership with Turkmenistan, the head of the Turkmen-Turkish business council said that early 2020 inter-governmental economic coordination meeting will be held in Ashgabat.

In addition, the Turkish Foreign Economic Relations Board (DEIK) intends to hold next edition of Turkmen-Turkish business forum. Currently, the parties agree on its program.

The Republic of Turkey is one of the top trade and economic partners of Turkmenistan. Turkish business is involved in major infrastructure projects implemented in the construction industry, energy, chemical and textile industries, agriculture, food industry.

The Turkmen-Turkish business Council was established in 2010 to help Turkmen and Turkish business circles in establishing mutually beneficial ties.