Trade Turnover Between Turkmenistan, Canada Nears $18 Million

BUSINESS TURKMENISTAN
Trade Turnover Between Turkmenistan, Canada Nears $18 Million
Turkmenistan's exports to Canada amounted to $12.5 million.

Total trade turnover between Turkmenistan and Canada amounted to $17.8 million in 2020, the Baku-based Trend news agency reported on Sunday with reference to the Global Affairs Canada.

In 2020, Turkmenistan’s imports from Canada amounted to $5.4 million, of which 70.6% were industrial machinery, equipment and various parts, Global Affairs Canada told Trend.

At the same time, Turkmenistan's exports to Canada amounted to $12.5 million. Canadian Global Affairs noted that the Canadian imports were led by basic and industrial chemicals, plastic and rubber products, which accounted for 98% of imports from Turkmenistan.

Due to the potential of broader Caspian gas cooperation, Canada is reportedly interested in the energy sector of Turkmenistan. This sector is of interest with the signing in January 2021 of a Memorandum of Understanding between the governments of Turkmenistan and Azerbaijan on joint exploration and development of hydrocarbon resources of the Dostluk field.