State minister: Turkish companies implement projects worth $17 billion in Turkmenistan

Business Materials 17 April 2010 14:11 (UTC +04:00)

Turkmenistan, Ashgabat, April 17 / Trend H. Hasanov /

At present, Turkish companies implement projects totaling $17 billion on the territory of Turkmenistan.

This figure was voiced in an interview of Turkish State Minister for Foreign Trade and Engineering Mehmet Zafer Caglayan with TV Turkmen.

He also noted that these contracts allow Turkish construction workers to overcome the consequences of the global economic crisis. High-ranking official has been recently received by Turkmen President Gurbanguly Berdimuhammedov.

More than 500 enterprises in such fields as industry, construction, trade, transport are registered with Turkish capital on the Turkmen market. It hits almost 35 percent from the presence of all foreign companies in Turkmenistan. Mutual trade between the two countries is estimated at $1.5 billion.

Turkey implements about 800 projects in various sectors of national economy. Turkish companies made direct investments worth $260 million only in the development of the textile industry.

Turkey imports Turkmen electricity through Iran. Negotiations on possible purchase of natural gas are held.