Ashgabat, Turkmenistan, July 17
By Huseyn Hasanov – Trend:
Turkmenistan increased exports to Azerbaijan 2.1 times, to Kazakhstan - 2.3 times, and to Russia by 9.3 percent in 2018 compared to 2016, Trend reports with reference to Neytralni Turkmenistan newspaper.
The main items of Turkmen exports are petroleum products, cotton fiber, products of the domestic textile and chemical industry.
The possibilities of increasing the share of these countries in the foreign trade turnover of Turkmenistan and intensifying trade between the countries of the Caspian region are expanding, the report said.
Therefore, considering the advantages of regional production cooperation and the favorable transport infrastructure including maritime infrastructure, it seems economically feasible to create a regional import substitution system based on mutually beneficial trade cooperation of the Caspian littoral states, the news report says quoting Turkmen expert Araznury Ataev.
The article as a whole is timed to the holding of the first Caspian Economic Forum in Awaza resort town on August 12 this year. Its agenda includes discussion of joint investment projects and a memorandum of understanding on the creation of a Business Council of the Caspian states.