Decrease in Iranian exports to Turkmenistan

By Trend:

Iran’s export to Turkmenistan has decreased by 7 percent, Rahmatullah Khormalu, commercial attaché of Iran to Turkmenistan, told ISNA, Trend reports.

Some $305 million worth of products have been exported from Iran to Turkmenistan during the nine months of the current Iranian year (starting from March 21, 2018), with a 6-7 percent decline in export as compared to the same period last year, he said.

“Turkmenistan is the 13th target market of Iranian goods. China, Russia, Turkey and Iran are among the top exporters to Turkmenistan. The import of products from other countries to Turkmenistan has also decreased,” he said.

According to Khormalu, Turkmenistan has been experiencing a decline in economic growth in recent years. As a result, the country imposes a tighter supervision over import and seeks alternatives to import. Therefore, import to Turkmenistan has seen a 40 percent decrease during the last couple of years.

“Turkmen officials want investments to be made in the fields of petrol, gas, electricity, agriculture, electronic industry, etc. Iranian producers should come forth with investments in these spheres,” he remarked.

Moreover, Iran could attract Turkmen investors in joint projects. Mining, textiles, and other products in border provinces could benefit from Turkmen investments.

“As for the participation of Iranian businessmen in any projects in Turkmenistan, we would advise that Iranian businessmen invest and trade only per contractual agreements, and to sign the contracts in foreign currency, such as the euro,” Khormalu said.