Kyrgyzstan-Turkmenistan trade turnover ups
By Vusala Abbasova
The development of bilateral trade and economic cooperation between Kyrgyzstan and Turkmenistan is strengthening year on year, providing a favorable environment for small business and private entrepreneurship development.
The mutual trade turnover between the two countries increased by 30 percent up to $3.3 million over the past four months of 2015.
These remarks were made by Kyrgyz Vice Prime Minister Valery Dil during a Kyrgyz-Turkmen business forum conducted in Bishkek.
Discussing trade between the two countries during the 2010-2014 period, the Kyrgyz side mentioned an increase of 69 percent in trade turnover, highlighting a rise in exports by 68.1 percent and the mutual increase in imports by 72.7 percent.
The external trade turnover of Kyrgyzstan with Turkmenistan amounted to $9.8 million over 2014, increasing by 46.3 percent compared to the 2013 index.
For the reported period, Turkmenistan has exported to Kyrgyzstan incandescent electric lamps, car parts and accessories, beans, and jet fuel, while importing nuts, cottonseed oil, hides, and finished textile products.
Turkmenistan’s other exports include cotton, polymers, textiles, and vegetable products.
Turkmenistan mainly imports iron and steel pipes, heavy construction equipment, wheat, grading machinery, and vehicles.
Following the forum, the sides decided to create the joint Turkmenistan-Kyrgyzstan Business Council, which will involve businessman from both countries in developing and strengthening business cooperation.
The Council will provide representatives of business communities with the necessary business information that will help to attract investments into perspective strategic projects, Dil said.
Moreover, both counties participate in large projects aimed at transiting gas from Central Asia to China through the additional D branch of the Central Asia-China pipeline, the construction of which began in September 2014.
The new route will provide gas supplies from Turkmenistan to China via Uzbekistan, Tajikistan, and Kyrgyzstan. Construction of the pipeline is planned to finish in 2017.
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