The key areas of activation of trade and economic cooperation between Turkmenistan and Russia

The trade and economic partnership was the central theme of the Turkmen-Russian summit talks taking place in Ashgabat.

The parties noted its progressive and stable nature. Despite the objective difficulties associated with the situation in the global economy, Russia continues to be one of Turkmenistan's largest trading partners.

Thanks to efforts on both sides in recent years, contacts in this direction have intensified. Visits of the Turkmen delegations of the economic bloc to Russia were held, joint business forums were held with participation of state and private structures.

A new partnership mechanism was created - the High-Level Group on Trade and Investment Support within the framework of the Intergovernmental Turkmen-Russian Commission. A plan of measures and projects for the implementation of the Program of Economic Cooperation between the Governments of the two countries for 2017-2019 has been agreed. This is a kind of "roadmap" for a three-year period.

Such examples indicate the existence of mutual interest and readiness for building partnership relations further. In this regard, an important role is given to the work of the Intergovernmental Commission.

It is obvious that the quality and scope of bilateral trade and economic cooperation can and should be substantially increased, brought in line with objective opportunities and available potential, President Gurbanguly Berdimuhamedov said at the expanded talks.

The Turkmen leader noted that today we need access specific projects, use of geographical and infrastructural advantages of both countries, and search for new directions. First of all, in strategic spheres - industry, transport and communications, energy, agro-industrial complex, and new technologies.

We highly appreciate and welcome the work on the Turkmen market of large Russian companies, the Turkmen leader continued. This is particularly true about such areas as automotive, aircraft building, and shipbuilding. Speaking of this, the Head of State expressed Turkmenistan's readiness for consideration of the proposals of the Russian side on new forms and directions of partnership.

Today, cooperation in the field of logistics objectively comes to the new stage. Here, the use of the port infrastructure of the two countries on the Caspian Sea in the cities of Turkmenbashi and Astrakhan, and the ferry connection between them is especially promising. The most important part of such cooperation is the creation of a trade and logistics center of Turkmenistan on the territory of the Astrakhan region.

As for the partnership in the agro-industrial complex and the textile industry, Turkmenistan also confirmed readiness for its further development, increase in supplies of Turkmen agricultural products and textiles to the Russian Federation.

Turkmenistan is also ready to establish mutually beneficial cooperation in the supply of oil, gas and chemical products, consumer goods to Russia.

Stressing the interest of the Turkmen side in raising the level and quality of interaction with Russia in the sphere of high technologies, the Head of State in general expressed his belief in the need to give the bilateral economic partnership a clearly expressed innovative, high-tech character.

Russia has excellent developments in this segment, and Turkmenistan would like to use it in mutual interests and on a mutually beneficial basis.

The priority areas of trade and economic cooperation also include banking and financial sector, support for export-import operations and joint foreign economic projects.