BAKU, Azerbaijan, May 1
By Jeila Aliyeva - Trend:
German’s John Deere company is open to expand it cooperation with Turkmenistan, Trend reports with reference to Turkmenistan Today State News Agency.
Representatives of John Deere International GmbH company and the officials of the Ministry of Foreign Affairs of Turkmenistan held a meeting at The State Bank for Foreign Economic Affairs of Turkmenistan via videoconference.
The technological modernization of Turkmenistan’s agro-industrial sector was the main topic of discussion. The parties highlighted productive cooperation.
The agreements and contracts signed by the parties for the supply of large quantities of grain and cotton harvesters, tractors, seeders and other special equipment are the proofs of cooperation between Turkmenistan and the company.
One of the new and important areas of partnership between the parties is the introduction of a digital electronic management system in Turkmenistan’s agricultural machinery, which will be implemented in stages from 2020 through 2030.
President of Turkmenistan Gurbanguly Berdimuhamedov signed a decree on the provision of financial support by the state to the country’s private sector in January 2020.
In accordance with this decree, company’s agricultural machinery and equipment can also be purchased by representatives of Turkmenistan’s private sector by taking a bank loan.
The above-mentioned decree also provides a loan agreement between the state Bank for Foreign Economic Activity of Turkmenistan and Deere Credit Inc. (US). In compliance with this agreement, the bank will finance 85 percent of the cost of agricultural machinery and equipment purchased by entrepreneurs from the company.
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