Russian Ministry of Economic Development-Turkmenistan Product Imports Increase by 21%

BUSINESS TURKMENISTAN
Russian Ministry of Economic Development-Turkmenistan Product Imports Increase by 21%
9th meeting of the High Level Group on Trade and Investment Support within the framework of the Intergovernmental Russian-Turkmen Commission, December 21-22, 2023, Moscow, Russia. (Photo: Ministry of Economic Development of the Russian Federation)

Imports of products from Turkmenistan to Russia have increased by 21 percent in the first ten (10) months of this year, Russian Deputy Minister of Economic Development Dmitry Volvach said during the 9th meeting of the High-Level Group on Trade and Investment Support held on December 21-22 in Moscow within the framework of the Intergovernmental Russian-Turkmen Commission on Economic Cooperation, the Ministry of Economic Development of the Russian Federation reported on Monday.

Kerimberdi Kurbanov, the Deputy Minister of Trade and Foreign Economic Relations of Turkmenistan, represented the Turkmen delegation, and Dmitry Volvach represented the Russian delegation.

Volvach also noted that over the same period, mutual trade turnover between the two countries in physical terms increased by 8 percent, reaching 535,000 tonnes, while exports increased by 5.5 percent. Supplies of food products and agricultural raw materials from Turkmenistan to Russia increased by 33 percent, while supplies of chemical industry products and rubber increased by 57 percent.

The sides discussed the development of trade and economic cooperation, conditions for improving mutual trade, and prospects for joint industry, energy, construction, state cadastre, and education projects.

"The bilateral economic potential remains strong, and there are good opportunities for expanding cooperation both in oil and gas and financial fields, as well as in the spheres of industry, agriculture, transport and other sectors of the economy" - in turn emphasised Deputy Minister of Trade and Foreign Economic Relations of Turkmenistan Kerimberdi Kurbanov.

During the meeting, the participants emphasised that the Ministry of Economic Development of Russia monitors 36 projects with Russian participation in Turkmenistan.

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