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By Trend

Begench Charyev has been appointed chairman of the State Commodity and Raw Materials Exchange of Turkmenistan (SCRME), a presidential decree said on Aug. 1.

SCRME was established in 1994 and regulates export-import operations. Unlike other exchanges, the range of activities of the stock exchange is universal - here through trades various commodities and materials are sold, except for objects of intellectual property, works of art and real estate.

In addition to the main function of an intermediary and a wholesale market organizer, the exchange is also responsible for monitoring the compliance of the set prices for goods, based on their prime cost, the state registration of concluded foreign trade contracts and contracts within domestic market of Turkmenistan.

Exchange experts assess the expediency of product import and export, analyze the influence of various factors on the import and export of goods and products.

According to the rules that have been in force so far, participants of exchange trades can be enterprises and organizations of all forms of ownership, citizens of Turkmenistan and other states by purchasing a brokerage place or concluding a service contract with brokers of the exchange.

At present, domestic products are being sold at the exchange trades. The products are exported to more than 40 countries, including Turkey, China, Russia, the UAE, Iran, Germany, the US, the UK, Ukraine, Switzerland. The main export items are oil products, cotton fiber, domestic textile and chemical products.

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