Turkmenistan seeks expanded trade ties with Iran Investment
IIKSS- Turkmen President Gurbanguly Berdimuhamedov stressed the importance of developing the trade and economic relations with Iran for the strengthening of mutually beneficial partnership.
Berdimuhamedov said about this in his message to participants of the specialized exhibition of Iran, which opened in Ashgabat on February 28.
"By increasing its economic potential, our country pays special importance to the modernization and diversification of the economic complex, widely introducing the latest technologies and advanced design," the message reads.
The Turkmen president said that this causes great interest of foreign partners, including the Iranian businessmen, aspiring to take their place in the Turkmen market.
The exhibition and Turkmen-Iranian Business Forum organized in its framework are designed to ensure further deepening of trade and economic cooperation between Turkmenistan and the Islamic Republic, according to the message.
Iran and Turkmenistan share a common border of more than 1000 km. The two countries have good relations since Turkmenistan's independence from the Soviet Union in 1991.
The two countries implemented a number of large-scale economic projects. The two countries have built 'Dostluk' (Friendship) border dam and implemented the North-South railway project on the basis of a tripartite agreement signed in 2007 with the participation of Turkmenistan, Iran, and Kazakhstan.
Iran also purchases electricity in Turkmenistan. Iran ranks third in the foreign trade of Turkmenistan, due primarily to natural gas purchases. Turkmenistan has been exporting gas to Iran under a 1997 agreement.
In turn, Turkmenistan imports raw materials, building materials, steel products and inorganic chemicals, plastic products, rubber, detergents, food and other consumer goods from Iran.
The two countries focus on activation of joint activities in the field of transport and transit, construction of roads, as well as in the electricity and gas sector.