Turkmenistan-Russia Trade Turnover Nears $1 Billion

BUSINESS TURKMENISTAN
Turkmenistan-Russia Trade Turnover Nears $1 Billion
The Turkmen and Russian officials discussed trade, economic and interregional cooperation. (Photo: Press Service of Government of Russia)

The trade turnover between Turkmenistan and Russia neared $1 billion in 2020, TASS news agency reported citing the Deputy Prime Minister of the Russian Federation Alexei Overchuk as saying at the meeting of the co-chairs of the Intergovernmental Turkmen-Russian Commission on Economic Cooperation held on Tuesday in Moscow.

Last year, the trade turnover between the countries increased by 39.6% compared to 2019, nearing $1 billion. The volume of Russia’s exports increased by 19.6%, and its imports of Turkmen products doubled, according to the statement issued by the Russian government following the meeting of Overchuk with Deputy Chairman of the Cabinet of Ministers, Foreign Minister of Turkmenistan Rashid Meredov and Deputy Chairman of the Cabinet of Ministers Serdar Berdimuhamedov.

The sides discussed trade, economic and interregional cooperation, bilateral interaction in the spheres of healthcare, industry, transport, finance and education.

The Russian government called the program of economic cooperation between the governments of the countries for 2021-2023 that is under development an important factor in expanding bilateral cooperation, according to the report.

Within the framework of the meeting, the Turkmen and Russian officials signed an intergovernmental agreement on promoting interregional cooperation, an agreement on cooperation in the implementation of the International Health Regulations between the Russian Rospotrebnadzor and the Ministry of Healthcare and Medical Industry of Turkmenistan, and an agreement on cooperation between the State Bank for Foreign Economic Affairs of Turkmenistan and Transcapitalbank PJSC.

During the meeting, a memorandum was signed between the Federal Customs Service of Russia (FCS) and the State Statistics Committee of Turkmenistan on the exchange of statistical data, on mutual trade, and a protocol between the FCS of Russia and the State Statistics Committee of Turkmenistan on the exchange of documents and information on the customs value of goods transported between Russia and Turkmenistan.

The Turkmen delegation led by the Minister of Foreign Affairs of Turkmenistan Rashid Meredov is paying a working visit to Russia. During the visit, Turkmenistan's top diplomat will hold talks with his Russian counterpart Sergei Lavrov and attend a meeting of the CIS Council of Foreign Ministers in Moscow on April 2.