Turkmen-Russian trade turnover grows in 8M2021

Turkmenistan Materials 8 October 2021 13:22 (UTC +04:00)
Turkmen-Russian trade turnover grows in 8M2021

BAKU, Azerbaijan, Oct. 8


Turkmen-Russian trade turnover from January through August 2021 amounted to $1.86 billion, Trend reports on Oct. 8 citing Business Turkmenistan.

The issue was discussed during a phone conversation between President of Turkmenistan Gurbanguly Berdimuhamedov and his Russian counterpart Vladimir Putin.

The parties also discussed the priority aspects of the two countries’ cooperation, demonstrating progressive dynamics and successfully developing in a wide range of areas, both in bilateral and multilateral formats.

During the conversation, there was also emphasized the importance of cooperation in the format of the "Caspian Five" for the multilateral partnership. In this regard, Berdimuhamedov confirmed Turkmenistan's readiness to host the next summit of the heads of the Caspian states this year in a face-to-face format.

Besides, it was noted that the trade-economic sphere is an important area of Turkmen-Russian cooperation. In this regard, the parties emphasized the growth of bilateral trade turnover since early 2021.

According to Turkmen statistics, for the first eight months of this year, the trade turnover grew by 12.5 percent compared to the same period in 2020.

Earlier, President of Turkmenistan Gurbanguly Berdimuhamedov said in an interview with TASS that transport and logistics have the potential to strengthen economic relations between Turkmenistan and Russia.

According to him, in the economic sphere, Russia has been among the leaders in terms of the volume of foreign trade with Turkmenistan for many years and is one of its leading investment partners.

"We cooperate with Russia in the fuel and energy sector, shipbuilding and aircraft construction, the agricultural sector, the textile industry, transport, road construction, metallurgy, and in many other segments," the president said. "Turkmenistan has established and develops direct trade and economic relations of Turkmenistan with such regions of the Russian Federation as Tatarstan and Astrakhan, as well as Saint Petersburg [city]."

He noted that other regions of Russia are also showing interest in the cooperation.