St. Petersburg Exchange, SCRMET Sign Technology, Marketing Cooperation Agreement

The Saint Petersburg International Mercantile Exchange and the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) signed a technology and marketing cooperation agreement.

The document was signed during the 13th meeting of the Turkmen-Russian Intergovernmental Commission on Economic Cooperation, attended by Deputy Prime Minister of the Russian Federation Marat Khusnullin and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Atagulyyev. The exchanges’ cooperation was approved at the intergovernmental level and reflected in the commission’s final document.

The agreement aims to expand the geographic reach and increase the number of participants in trading on both exchanges, enhance the economic potential of the parties’ commodity markets, and develop new organized trading technologies.

Key areas of cooperation include:

• Technical modernization of trading software and exchange of technological research results;
• Development of modern forms and methods of trading;
• Conducting marketing research in the Russian and Turkmen markets and sharing results;
• Joint promotion of specific exchange-traded commodities;
• Collaborative projects to organize trading and create exchange products.

The State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET), established by presidential decree on July 29, 1994, is a key economic institution in the country. The exchange serves as the main state regulator of export-import operations and is integrated into the international economic system. Through exchange trading, locally produced goods are exported to other countries. These products include petroleum products, cotton fiber, and goods from the textile and chemical industries.

Source: Saint Petersburg International Mercantile Exchange