Turkmen State Exchange Develops Its Digital Database

BUSINESS TURKMENISTAN
Turkmen State Exchange Develops Its Digital Database
At the first stage, the services of the digital database will be publicly available to all interested parties.

The State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) carries out a phased development of its digital database in order to modernize its operations, the Vice-Premier Chary Gylyjov reported on the development to the President of Turkmenistan Gurbanguly Berdimuhamedov during a Cabinet of Ministers meeting on Friday.

The digital database will contain relevant information on the registration of exchange contracts, their analysis and the formation of personal accounts of clients, the country’s official media reports.

The database will allow the clients of the SCRMET to obtain information about foreign contracts registered on the exchange, and to get acquainted with the list and tariffs for goods imported from abroad and export-oriented domestic products.

At the first stage, the data will be publicly available to all interested parties, and in the future, with an increase in the number of customers and regular use of the site's services, the services will be provided to users on a paid basis, according to the report.

At the request of customers, it is envisaged to clarify prices for certain types of goods, open brokerage offices on the exchange and make digital payments.

The creation of the digital database is expected to make it possible to promptly provide exchange services, attract new foreign customers and simplify foreign trade operations.

Summing up the report, President Gurbanguly Berdimuhamedov emphasized the importance of modernizing the activities of the SCRMET, which the main entity regulating export and import operations in the country.