Ashgabat, Turkmenistan, April 21
By Huseyn Hasanov- Trend:
Turkmen President Gurbangulu Berdimuhamedov approved the structure of the central apparatus of the State Commodity and Raw Materials Exchange.
"It will serve the purpose of further development of the national economy and the improvement of the exchange's activity," the document said.
Turkmenistan adopted a law on the commodity-raw material stock exchange and stock trading in March 2014. It envisages the function of exchange related to the wholesale market in Turkmenistan, increase of export potential of domestic producers, conducting marketing monitoring and analysis of the factors affecting stock prices.
The State Commodity and Raw Materials Exchange of Turkmenistan has been founded by the Decree of the President of Turkmenistan on July 29, 1994 is the major economic institute of the country, carrying out the function of a principal body of state regulation of export-import transactions.
As against other commodity exchanges, the spectrum of activity of the State Commodity and Raw Materials Exchange of Turkmenistan is extremely wide. It, as a matter of fact, is the universal commodity exchange, accepting and realizing through the tenders various commodity and material assets, except for objects of the intellectual property, product of arts and the real estate.
Besides the basic functions of the intermediary and organizer of the civilized wholesale market, on the commodity exchange, it also is assigned the functions of control over conformity of the established prices for the goods proceeding from their cost price, the state registration of concluded foreign trade contracts and contracts within the framework of a home market of Turkmenistan. Experts of the commodity exchange estimate expediency of import and export of production, carry out the analysis of influence of various factors to import and export of goods and production.
Now at the exchange tenders of the goods of domestic production are exported to more than 40 states of the world, including Turkey, China, Russia, United Arab Emirates, Iran, Germany, the USA, the Great Britain, Ukraine, Switzerland is realized. Basic articles of export are mineral oil, cotton fiber, production of the domestic textile industry, and the chemical industry, among others.
Translated by S.I.
Edited by C.N.