Turkmenistan-Turkey trade volume increased in 11M2021

Business 21 January 2022 14:05 (UTC +04:00)
Turkmenistan-Turkey trade volume increased in 11M2021

BAKU, Azerbaijan, January 21

By Amina Nazarli - Trend:

Turkmenistan's exports to Turkey increased by 50 percent ($49 million) in 11M2021, Turkish Ambassador to Turkmenistan Togan Oral said, Trend reports citing Business Turkmenistan portal.

He made the remark at a press conference held at the Turkish Embassy in Turkmenistan.

“Turkmenistan’s imports from Turkey, in turn, grow by 27.2 percent in the reporting period,” he said, adding that the total trade turnover between the two countries exceeded $1.9 billion in the first 11 months of last year.

Oral emphasized the importance of the trilateral gas exchange agreement between Turkmenistan, Iran and Azerbaijan and the Memorandum of Understanding between Turkmenistan and Azerbaijan on the joint development of the Dostluk hydrocarbon field in the Caspian Sea, signed back in 2021.

The ambassador said the agreements would encourage Turkmenistan to diversify its natural gas exports.

He added that Turkmen gas from the Dostluk field could be exported to European countries via the Trans Anatolian Natural Gas Pipeline (TANAP).

It was noted that the next meeting of the Turkmen-Turkish dialogue for economic cooperation and the trilateral Azerbaijan-Turkey-Turkmenistan summit are scheduled for 2022 in Ashgabat.

On November 28, 2021, a tripartite contract on the swapping of 1.5-2 billion cubic meters of Turkmen gas to Azerbaijan through Iran per year was signed between Iran and Azerbaijan in Ashgabat, Turkmenistan, on the sidelines of the 15th Summit of the Economic Cooperation Organization (ECO). Currently, within the framework of the agreement some 4-4.5 million cubic meters of gas per day are imported from Turkmenistan to Iran.