Kazakhstan and Turkmenistan sign contracts worth $7 million

Azerbaijan, Baku, June 3 / Trend S. Suleymanov /

Following the trade mission in Ashgabat, Kazakhstan and Turkmenistan signed contracts worth more than $7 million, JSC "National Agency for Export and Investment" KAZNEX INVEST said.

"As a result of a business forum and bilateral talks held within the trade mission, four contracts for the supply of flour, confectionery, dairy products, metal pipes were signed. It is planned to open two offices of Kazakh companies. According to preliminary data, the amount of the contracts on the basis of the trade mission amounted to over $7 million", KAZNEX INVEST said.

"Results of the trade mission to Turkmenistan are encouraging. This Central Asian country is one of the most dynamic and promising markets for expanding supplies of Kazakh goods", Deputy Chairman of JSC "KAZNEX INVEST" Meirjan Maykenov said.

He said that Turkmenistan was not chosen by chance for organizing the trade mission. High interest of Kazakhstan's business in this country was taken into account. Moreover, Kazakhstan holds the sixth place among the major suppliers of goods to Turkmenistan.

The major part of production in the foreign trade of the two countries includes food products, machinery, equipment, vehicles, metals, mineral products, building materials, chemical products.

The Kazakh delegation included more than 30 entrepreneurs - representatives of such sectors of Kazakhstan's economy as agriculture, food processing, light industry, oil and gas engineering, construction, etc.

As a result of the trade missions, about 15 Kazakh companies have agreed to supply its products to the market of Turkmenistan. Kazakh flour, cereals, pastries, as well as construction materials and equipment are in great demand.

"Prospects of the Kazakh-Turkmen trade cooperation are broad, since the potential growth of Ashgabat in the next ten years is large enough. Meanwhile, Turkmenistan's market is still fairly closed and specific," the company said.

According to the press-service, all the foreign economy of the country is under state control. There are also a number of other difficulties. It is a feature of the order of mutual calculations, small business environment, an information deficit on the market of Turkmenistan.

"In this regard the trade mission in Ashgabat allowed to organize a dialogue platform for business. This tool is one of the most effective in the promotion of exports," "KAZNEX INVEST" said.

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