Russia has been one of the key trading partners for Turkmenistan over the past five years, with annual trade exceeding $1.6 billion, according to Russian Ambassador Ivan Volynkin.
He highlighted a positive trend: imports of Turkmen textiles and food products to Russia have nearly doubled, he said in interview with Azerbaijani news agency Trend.
Regular discussions at high levels, including through the Intergovernmental Russian-Turkmen Commission, solidify this economic relationship.
Ambassador Volynkin recommended the “Strategy of Turkmenistan until 2052” as a guide for Russian investors.
“Within the framework of medium-term programs, Turkmenistan provides for increased investments in the development of new innovative industries, agricultural reform with an eye to the production of environmentally friendly products, the formation of transport and logistics corridors and the modernization of the fuel and energy complex. This approach contributes to the joint implementation of infrastructure projects and the expansion of bilateral trade between our countries,” Volynkin said.
Russia and Turkmenistan are actively cooperating to improve transportation links. Russian Railways is exploring options to increase rail transit volume by implementing end-to-end cargo flow, establishing electronic data exchange, offering competitive tariffs, and attracting more cargo through logistics companies.
Additionally, both countries prioritize boosting traffic along the eastern branch of the North-South international corridor.
The development of multimodal transportation holds promise, with potential to involve the Turkmenbashi International Seaport, the Caspian Sea highway (under consideration with Russian company Vozrozhdenie’s participation), and the existing corridor, according to Volynkin.
The partnership extends beyond trade. The Russian envoy highlighted joint efforts to introduce advanced technologies in geological exploration, land cadastre management, construction of industrial and infrastructure facilities.
“There is ongoing work in the field of seed production, irrigation, health, education, sports and tourism. Such a high intensity of business ties confirms the status of strategic partnership between Russia and Turkmenistan, secured by relevant bilateral agreements,” the Russian Ambassador added. ///nCa, 19 March 2024