Ashgabat, Turkmenistan, March 8
By Huseyn Hasanov- Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov has sharply criticized the activity of the State Commodity and Raw Materials Exchange at a meeting of the Cabinet of Ministers, the Turkmen government said March 8.
The president urged to take relevant measures.
The State Commodity and Raw Materials Exchange held 40 auctions in January-February 2016. Some 2,172 contracts worth more than 4.2 billion manat were registered there.
"The export and import transactions are worth over 2.4 billion manat, construction contracts - more than 1.1 billion manat," the statement said. "The investments in the amount of 6.1 million manat were used during this period or by 73.1 percent more than in the same period of 2015."
As of January 2015, the official rate of the Turkmen manat to the US dollar hits 3.50 Turkmen manat.
The State Commodity and Raw Materials Exchange of Turkmenistan was established in 1994 and is a body of regulation of export-import operations.
As opposed to other stock exchanges, the range of activities of the local stock exchange is universal, a variety of goods and materials, with the exception of intellectual property facilities, real estate and works of art are sold here through bids.
Domestic products, which are exported to more than 40 countries, including Turkey, China, Russia, UAE, Iran, Germany, US, UK, Ukraine and Switzerland, are currently sold at the stock exchange bids.