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Switzerland helping Turkmenistan in protection against counterfeit products

Business Materials 30 January 2020 15:12 (UTC +04:00)
Switzerland helping Turkmenistan in protection against counterfeit products

ASHGABAT, Turkmenistan, Jan. 30

By Huseyn Hasanov – Trend:

The Turkmen Ministry of Finance and Economy and the Swiss SICPA Holding SA have signed a memorandum of understanding on strategic partnership, Trend reports referring to Business Turkmenistan agency.

SICPA is a world leader in the field of labeling products with protected marks.

The memorandum was signed following the negotiations, where the ministry expressed interest in cooperation on secure authentication, control of production volumes and monitoring the movement of goods imported and exported by Turkmenistan, the report said.

SICPA SA CEO Philippe Amon participated in the negotiations. The parties confirmed their readiness to provide the local market with high-quality and high-tech labeling solutions that will protect buyers and the country’s trading network from counterfeit products.

Turkmenistan has foreign trade relations with 107 countries, the main of which are China, Italy, Turkey, Russia, the UAE and Afghanistan.

Turkmenistan’s foreign trade in 2019 could reach $17.9 billion, including export - $12.5 billion, import - $5.4 billion, according to the International Monetary Fund (IMF) forecast.

Turkmenistan’s foreign trade amounted to $16.9 billion, including export - $11.6 billion, import - $5.3 billion in 2018.

The country is conducting industrialization policy aimed at increasing the manufacture of import-substituting products and developing exports.

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