Trade turnover data between Turkmenistan, Iran disclosed

Business Materials 1 November 2019 11:54 (UTC +04:00)

ASHGABAT, Turkmenistan, Nov. 1

By Huseyn Hasanov – Trend:

The total trade turnover between Turkmenistan and Iran amounted to $560 million in 2018, Trend reports on Nov. 1 referring to the Turkmen Ministry of Trade and Foreign Economic Relations.

Turkmenistan mainly exports dried fruits, mineral fertilizers, seeds of agricultural crops, cotton products and imports the iron pipes, construction profiles, steel structures, vegetables and fruits.

Iran is the third most important foreign trade partner of Turkmenistan. Iran and Turkmenistan focus on the issues of joint activity in the transport and transit sector, road construction, power industry and gas sectors.

As of February 1, 2018, 89 investment projects with the participation of Iranian companies were registered in Turkmenistan. The total cost of the projects is $1.3 million, 0.8 million euros and 0.8 million Turkmen manat.

“Some 142 enterprises of various forms of ownership with the participation of Iranian capital, including limited partnerships, subsidiaries, representative offices, branches have been registered in the country,” the Turkmen Ministry of Finance and Economy said.

Turkmenistan and Iran border on the Caspian Sea and have a long land border. Several major economic projects have been recently implemented.

The gas pipeline Korpeje-Kurt-kui commissioned in 1996 and the transit branch Dovletabat-Sarahs-Hangeran built recently in addition to the pipeline can be mentioned among the most important projects.