Turkmenistan Sees $3.5 Billion in Investments from Russian Companies

Investment projects worth a total of $3.5 billion are currently underway in Turkmenistan with the involvement of Russian companies, according to Deputy Prime Minister Nokerguly Atagulyev.

"As of today, 38 business entities with Russian capital are registered in Turkmenistan. Among them are representative offices and branches of such companies as Gazprom, Kamaz, and Tatneft. In addition, 342 investment projects involving Russian companies have been registered, with a total value of $3.5 bln," the deputy prime minister said at a meeting of the Russian-Turkmen Intergovernmental Commission on Economic Cooperation, The Caspian Post reports, citing TASS.

According to Atagulyev, Russia remains one of Turkmenistan’s key trading partners, with an annual trade turnover of around $1.5 bln. "In recent years, bilateral trade has maintained a steady growth rate. At the same time, an analysis of the structure of export and import supplies shows significant potential to further increase trade volumes by expanding the range of goods. The Russian market is one of our priorities, and we are interested both in importing and exporting our products to Russia," the deputy prime minister noted.