Russia's Envoy Expects Turkmen-Russian Trade Turnover to Reach $1 Billion

BUSINESS TURKMENISTAN
Russia's Envoy Expects Turkmen-Russian Trade Turnover to Reach $1 Billion
Turkmenistan has mainly increased the exports of chemical products, food products and agricultural raw materials to the Russian Federation.

Trade and economic relations between Turkmenistan and the Russian Federation developed dynamically in 2020, despite the global pandemic, Orient news outlet reported on Friday citing the Russian Ambassador to Turkmenistan Alexander Blokhin as saying during the briefing on the outcomes of 2020.

“Despite the pandemic, Russian-Turkmen trade and economic relations developed dynamically. In particular, the trade turnover with the Russian Federation increased by more than 20%, and by the end of the year it will amount to around $1 billion,” the Ambassador Blokhin said during the briefing.

The diplomat said Russia has increased the supply of industrial and chemical products, food products, metal products, machinery, equipment and timber to Turkmenistan. In turn, Turkmenistan has also increased exports to the Russian Federation, particularly of chemical products, food products and agricultural raw materials.

According to the envoy, Turkmenistan and Russia are already implementing a number of joint projects and signed several agreements and memorandums of cooperation in energy and shipbuilding spheres. Russia is completing the implementation of a project for the supply of Ansat and Mi-17 helicopters to Turkmenistan.

“This year, there were few face-to-face contacts, but this was offset by a large number of online contacts. According to our estimates, there were about 50 negotiations held via video communication,” Alexander Blokhin noted.

Trade turnover between Turkmenistan and Russia neared $694.8 million in 2019, which exceeds the figure for 2018 by 56.47%.