Baku, Azerbaijan, June 18
By Matanat Nasibova – Trend:
Azerbaijan and Turkmenistan have real opportunities for creating joint ventures in various segments of the manufacturing sector, Turkmen Extraordinary and Plenipotentiary Ambassador to Azerbaijan Mekan Ishanguliyev told Trend.
“A joint venture in the field of cotton production is likely to be established,” he said.
"Azerbaijan pays great attention to reviving the cotton production within the implementation of the state program aimed at strengthening the non-oil sector,” Ishanguliyev said. “Turkmenistan’s experience in cotton production and processing may be useful to your country.”
“Turkmenistan has a developed industrial base for processing raw cotton and great experience in this sphere,” he said. “In turn, Azerbaijan also completely processes all raw materials in its production facilities. Therefore, the creation of joint ventures in this sphere by using the experience of Turkmen specialists is attractive to both countries."
Ishanguliyev reminded that the Azerbaijani delegation has recently visited Turkmenistan and during this visit, the Azerbaijani and Turkmen experts exchanged experience in the cotton production and processing.
He stressed that Turkmenistan imports a wide range of products from Azerbaijan.
"I mean refined oil products, engineering products, products of agriculture and food products,” Ishanguliyev added. “Our countries have a great potential to create a joint venture in the industrial sector. Joint ventures are planned to be established in other segments of agriculture sector in the near future."
Azerbaijan carried out foreign trade operations worth $12.233 million with neighbouring Turkmenistan in January-March 2019, which is less by $26.814 million or 68.7 percent compared to the same period of 2018.
Thus, $3.677 million in the volume of trade turnover with Turkmenistan accounted for export, while $8.566 million - import.
The negative balance amounted to $4.899 million in January-March 2019, which is by $23.985 million or 5.9 percent less compared to January-March 2018.
The share of trade turnover between Azerbaijan and Turkmenistan in the total volume of foreign trade turnover is 0.35 percent.