Ashgabat, (TDI): Trade turnover between Russia and Turkmenistan has witnessed a significant surge, increasing by 73.5% in the past six months and surpassing $700 million, according to the Russian Ministry of Economic Development.
Dmitry Volvach, Russia’s Deputy Minister of Economic Development, shared these figures during a panel discussion on “Economic Development and Investment Potential of Turkmenistan” at the Turkmenistan Investment Forum (TIF 2024) in Ashgabat.
He noted that the trade volume between the two countries had grown by 13% last year, and in recent months, mutual trade has expanded with a rising share of high-value-added goods.
Volvach highlighted key developments that have fostered bilateral cooperation, including a historic declaration made in June 2022 to deepen the strategic alliance between Russia and Turkmenistan.
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Business Events Additionally, a Russian-Turkmen business roundtable held during Russian Prime Minister Mikhail Mishustin’s visit to Ashgabat in January 2023 further boosted trade and investment ties.
The Turkmenistan Investment Forum (TIF 2024), held from September 10-11 in Ashgabat, aimed to attract global investments into Turkmenistan’s economy.
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The forum, organized by Turkmenistan’s Ministry of Finance and Economy, Ministry of Foreign Affairs, and Chamber of Commerce and Industry, focused on sectors such as hydrocarbons, gas chemistry, power generation, construction, and transport.
It also featured discussions with international experts and an exhibition showcasing economic achievements.
