Turkmenistan Digitizes Operation of Its State Exchange

BUSINESS TURKMENISTAN
Turkmenistan Digitizes Operation of Its State Exchange
State Commodity and Raw Materials Exchange of Turkmenistan carried out 283 exchange trades last year.

President of Turkmenistan Gurbanguly Berdimuhamedov during a working meeting on Friday gave a number of specific instructions to further develop exchange trade in the country and expand its scale.

The Head of State emphasized the importance of modernizing the activities of the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET), as the main body regulating export-import operations in the country, TDH reports.

The Exchange serves as an indicator of foreign economic relations of Turkmenistan, a powerful information and analytical source of data that clearly illustrates the demand for products from leading sectors of the national economy, Turkmen Leader noted.

President Gurbanguly Berdimuhamedov instructed to raise prices for export-oriented domestic products through the auction exchange trading, to immediately carry out work on introducing a digital system and technologies into the activities of the Exchange for providing online services.

Turkmen President also instructed to improve the procedure for registering export and import agreements, the pricing system, as well as to create an electronic price base for the exchange and ensure its availability.

SCRMET currently includes 6 enterprises. From January to December 2020, 283 exchange trades were carried out through the Exchange. The total value of registered contracts amounted to 46.363 billion manats, the growth rate of profits amounted to 108.4%.

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