Turkmenistan’s Foreign Trade Turnover in Jan-Aug 2021 Exceeds $9 Billion

Turkmenistan’s Foreign Trade Turnover in Jan-Aug 2021 Exceeds $9 Billion

The foreign trade turnover of Turkmenistan in January-August of 2021 reached $9.192 billion, Rahymberdi Jepbarov, Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan (Vnesheconombank), announced in his presentation of the country's investment opportunities at a meeting with the Austrian delegation led by Foreign Minister Michael Linhart on Tuesday.

During the period, Turkmen exports exceeded $5.47 billion, while imports amounted to $3.72 billion.

Turkmenistan's total external debt does not exceed 11% of GDP and the country serves its debt on time, and is not in arrears even during the pandemic, the Ashgabat based Orient news outlet reported with reference to the Chairman of the Vnesheconombank.

Jepbarov informed that Japan, South Korea, Saudi Arabia, Germany and the United States are the main countries investing in Turkmenistan.

In 2021 alone, Vnesheconombank signed five agreements with foreign financial institutions for a total of $236 million. These funds will be used to finance projects in the sector of green energy, agriculture, chemistry, transport, small and medium-sized enterprises in the private sector, he added.

The meeting with the Austrian delegation took place within the framework of the visit of the Federal Minister for European and International Affairs of Austria Michael Linhart to Ashgabat. The Austrian delegation included representatives of the country’s leading companies specializing in various fields, and the Federal Economic Chamber.

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