President visits Turkey for strengthening trade ties

25 Mar '08

2 min read

Turkmen President Gurbanguly Berdimuhamedov is currently on a visit to Turkey for holding a high level talk about the current state, future development of bilateral cooperation and international policies of mutual interest.

The meeting between the two heads of states is expected to result in inking of new Turkmen-Turkish partnership that will lead to qualitatively new level for meeting mutual interest.

A latest statistical survey shows that nearly 479 enterprises of Turkey with Turkish capital operate in Turkmenistan accounting for about 33 percent of the total foreign companies present in the country.

Moreover, Turkmenistan has contracted 809 projects involving Turkish companies worth US $6 billion, Euro 707 million and Manat 69 billion.

On the other hand Turkish companies have made direct investments worth Manat 11.5 billion and $3,279 million. Of these, the textile industry alone accounts for $2,567 million. Trade turn over between the two countries in the year 2007 rose by nearly three times to touch over $1,296 billion compared to 2000.

While Turkey stands fourth in exports made by Turkmenistan, it holds the first place with regard to imports made by the country.

Turkmenistan largely exports textiles, cotton lint, petrochemicals and oil products, while Turkey's export to the country includes mainly machinery and equipments among others.

The ongoing talks between the heads of states and the accord that will be signed eventually will only result in strengthening trade partnership between the two countries.

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