Turkmenistan, Russia mull trade and economic co-op prospects
Ashgabat, Turkmenistan, March 8
By Huseyn Hasanov - Trend
A meeting has been held between Turkmen officials and Deputy Minister of Economic Development of the Russian Federation Alexey Gruzdev at the Turkmen Foreign Ministry.
The results of the fifth meeting of the high-level group on trade and investment support held in Ashgabat within the intergovernmental Turkmen-Russian commission on economic cooperation were discussed at the meeting, the Turkmen Foreign Ministry said in a message March 8.
"The sides stressed the need to implement the agreements reached during the meetings of the Turkmen and Russian presidents in 2017," the message said.
The issues of development of trade and economic partnership, interaction in such spheres as industry, energy, construction, agriculture and fishery, scientific and technical cooperation were also discussed.
About 190 companies with Russian capital operate in Turkmenistan. ARETI International Group (former ITERA) has been operating in the Turkmen sector of the Caspian Sea on the basis of the production sharing agreement since 2009. Russia’s Gazprom completely stopped to buy Turkmen gas in 2016.
The strategic partnership agreement between Turkmenistan and Russia was signed following Russian President Vladimir Putin’s official visit to Ashgabat in early October 2017. The two countries also outlined an action plan for the development of economic partnership.
Turkmenistan also confirmed readiness to increase supplies of its agricultural products and textiles to Russia.
The priority areas of cooperation between two countries are banking-financial sector, support for export-import operations and joint foreign economic projects.