Turkmenistan, Russia’s Tatarstan boost trade turnover

Business Materials 12 August 2020 14:29 (UTC +04:00)
Turkmenistan, Russia’s Tatarstan boost trade turnover

BAKU, Azerbaijan, August 12

By Jeila Aliyeva - Trend:

Russia’s Tatarstan and Turkmenistan are actively developing cooperation in the trade and economic field, contributing to an increase in trade turnover, Tatarstan Investment Development Agency (TIDA) told Trend.

"Foreign trade turnover amounted to $33.2 million in 1Q2020," the agency said.

Tatarstan exported rubber products and land transport to Turkmenistan for the total amount of $26.5 million in the reporting period.

In turn, during the reporting period, Tatarstan imported plastic products for the total amount of $6.7 million from Turkmenistan.

Meanwhile, the volume of export and import operations last year show that in 2019, the trade turnover between Tatarstan and Turkmenistan amounted to more than $120 million.

TIDA pointed out that the leading export positions to Turkmenistan are land transport vehicles, rubber and vegetable oil. The main group of products supplied from Turkmenistan to Tatarstan is plastic products.

"Tatarstan is ready to offer the supply of highly efficient devices for measuring the volume flow and volume of liquids in the reservoir pressure maintenance system, measuring the volume share of water in non-aqueous liquids, including oil and petroleum products moving in the flow through the pipelines of producing wells," TIDA added

One of the most important trade ties of Turkmenistan and Tatarstan include supply of famous Russian KAMAZ trucks, which are widely used in Turkmenistan's construction and agricultural sectors. Over the past ten years, more than 9,000 trucks and special equipment of KAMAZ Engineering JSC have been delivered to the country.

Forty-six dump trucks from KAMAZ have been delivered to the International Sea Port of Turkmenbashi in Turkmenistan in April 2020.

Follow the author on Twitter: @JeilaAliyeva