Turkmen president approves list of contracts to be registered at commodity exchange
Ashgabat, Turkmenistan, June 12
By Huseyn Hasanov – Trend:
Turkmenistan’s President Gurbanguly Berdimuhamedov by his decree has approved a list of types of contracts subject for registration at the State Commodity and Raw Materials Exchange.
The list includes both foreign trade contracts and those signed among the local Turkmen companies.
Contracts related to the sale of the Turkmenistan-made goods and products to foreign trading houses, established with participation of state institutions, can be signed without participation in an exchange bidding.
Participation in an exchange bidding isn’t necessary also for signing of the contracts related to the export of goods and products manufactured by legal entities of the non-state sector and private entrepreneurs, as well as goods (raw materials) not worth over $200,000 (or equivalent in national or other foreign currencies) purchased from legal entities of the non-state sector, private entrepreneurs and the population.
The document also instructed the Turkmen State Commodity and Raw Materials Exchange, together with the country’s Ministry of Justice, to prepare proposals on the introduction of amendments and additions to the national legislation and submit them to the Cabinet of Ministers within a month.
The Turkmen State Commodity and Raw Materials Exchange, established in 1994, is the body regulating export and import operations in the country.