Turkmenistan signed contracts worth over US $ 45 million following the business forum of the Economic Cooperation Organization, hosted by Ashgabat on 26 November, reported TDH news agency.
The oil and gas complex of Turkmenistan has signed deals valued at US $11 million.
Members of the Union of Industrialists and Entrepreneurs of Turkmenistan secured contracts with ECO partners for export-import operations totaling US $ 35.5 million. 25 contracts have signed on the results of exchange trading.
According to the contracts, Turkmen confectionery products from market leaders Miweli ülke, Datly şerbet, Altyn Yunus, etc. will be exported to Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey and Uzbekistan.
The import deals provide for the supply of furniture equipment from Turkey and grain supplies from Kazakhstan.
Following the forum, a Memorandum of Understanding was signed between the railway authorities of Kazakhstan, Turkmenistan and Iran on the implementation of the KTI freight railway corridor (Kazakhstan-Turkmenistan-Iran).
The Forum gathered more than 170 delegates, including 40 foreign, 138 Turkmen representatives, over 270 participants joined online. The meeting was attended by representatives of the ECO Chamber of Commerce and Industry, the UN Economic Commission for Europe, the Asian Development Bank, the Chamber of Commerce of the ECO member countries, the Union of Chambers and Trade Exchanges of Turkey, the Turkish-Pakistani Chamber of Commerce, relevant ministries, public organizations and various companies.
The business circles paid special attention to the issues of trade and economic cooperation, expansion of access to new markets, exchange of best practices and high technologies. The agenda highlighted such issues as digitalization of trade, public-private partnership, increasing investment attractiveness, development of the industrial sector, transport and logistics services.
Bilateral meetings of representatives of such industries as oil and gas, chemistry, agriculture and food industry, textile industry, trade were organized in a hybrid format.
Kazakhstan, Turkmenistan and Iran intend to increase cargo transportation along the railway corridor that connects the three countries. The related memorandum was signed on the sidelines of the ECO Business Forum.
The memorandum is aimed at increasing the load of the Kazakhstan-Turkmenistan-Iran railway. A joint working group will be formed to follow up rail transit between Iran, Kazakhstan, and Turkmenistan.
According to the MoU, a trilateral Corridor Management Mechanism will be established to coordinate its operation and tariffs.
The MoU is the outcome of the Project on Commercializing the ECO- KTI Corridor that was conducted jointly by ECO, IDB and UNESCAP. The project included study on trade flow and marketing plan, physical and non-physical barriers and corridor management mechanism.
The representatives of ECO, IDB and UNESCAP participated in the hybrid ceremony and delivered their statement on the important milestone and expressed their interest on joint cooperation for development of transport connectivity in the ECO Region.
The Deputy Minister of Roads and Urban Development of Iran and Director General of the Iran Railways Seyed Miad Salehi said in an interview with IRNA: “In order to increase the transit load to Iran from the railway borders with Turkmenistan and more efficient use of the capacity of the railway lines, negotiations were held with Kazakhstan and in accordance with them today, at the beginning of the ECO summit, the three countries – Islamic Republic of Iran, Turkmenistan and Kazakhstan (KTI) signed a trilateral railway memorandum on increasing rail freight traffic from Kazakhstan to Turkmenistan and from there to Iran.”
The MoU follows the agreement reached in October between the heads of the railway authorities of Turkmenistan and Iran.
President of the Kyrgyz Union of Industrialists and Entrepreneurs Daniyar Ibrayev held a number of meetings with the heads of Turkmen government departments and organizations on the sidelines of the ECO business forum, the Kyrgyz agency Tazabek reports.
During the meeting with the Chairman of the Chamber of Commerce and Industry of Turkmenistan, agreements were reached on intensifying cooperation within the ECO and holding ECO exhibition-fair in Bishkek in 2022.
Opportunities for Kyrgyz brokers and preferences for Kyrgyz buyers, e-auctioning on the Turkmen stock exchange were discussed at a meeting with the head of the State Commodity Exchange of Turkmenistan.
The establishment of cooperation between Turkmen textile enterprises and the Kyrgyz garment industry, the creation of joint ventures in various sectors of the economy, mutual promotion of products in the markets of the two countries were covered during the negotiations with the chairman of the Union of Industrialists and Entrepreneurs of Turkmenistan.
The cooperation in the textile sector was discussed in more detail at a meeting with the Deputy Minister of Textile Industry of Turkmenistan. The sides exchanged opinions on the prospects of opening the Turkmen trading house in Kyrgyzstan, supplies Turkmen textile fabric and yarn for Kyrgyz enterprises, holding exhibitions of Turkmen textile products in Kyrgyzstan and Kyrgyz clothing products in Turkmenistan. /// nCa, 29 November 2021