Exchange Trades in Turkmenistan to Go Online

BUSINESS TURKMENISTAN
Exchange Trades in Turkmenistan to Go Online
State Commodity and Raw Materials Exchange of Turkmenistan

At a governmental meeting on Friday, Deputy Chairman of the Cabinet of Ministers Chary Gylyjov proposed to modernize the work of the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) in two stages.

During a regular video conference session of the Cabinet of Ministers, the Deputy Chairman submitted proposals for consideration to the President of Turkmenistan Gurbanguly Berdimuhamedov to digitalize the Exchange.

At the first stage, it is envisaged to create conditions for the registration of deals on the Exchange in electronic format via the Internet. This will make it possible to provide exchange services online.

By implementing modern document management methods, the system will help to increase labor productivity, accelerate the timing of registration of contracts, and create a reliable electronic database.

At the second stage, it is proposed to introduce online exchange trades. This will allow potential buyers to participate in competitive tenders, without being present on the exchange, from anywhere in the world. It will also help to significantly increase the number of buyers, create optimal prices for goods and increase export volumes.

Gylyjov noted that measures to improve the activities of the Exchange will be taken in accordance with the Concept of Development of Digital Economy in Turkmenistan.

The President of Turkmenistan instructed once again to work out the planned measures to introduce digital technologies into the State Commodity and Raw Materials Exchange.