Trade and Economic Relations between Republic of Bulgaria and Turkmenistan

Trade and economic relations between Republic of Bulgaria and Turkmenistan

1. Trade turnover (mln. USD)

Year

Export

Import

Balance

Total turnover

2005

0.77

0.03

+ 0.74

0.80

2006

2.96

0.08

+ 2.88

3.04

2007

0.96

0.00

+ 0.96

0.96

2008

2.56

28.18

- 25.62

30.74

2009

4.41

9.24

- 4.83

13.65

2010

1.52

18.36

- 16.84

19.88

2011

3.54

42.69

- 39.15

46.23

2012

21.94

40.28

- 18.34

62.22

2013

6.999

69.13

- 62.13

76.13

 

The Minister of Economy and Energy Dragomir Stoynev and the Minister of Economy and Development of Turkmenistan Babamurat Taganov opened the second session of the Bulgarian-Turkmen Intergovernmental Commission in the city of Ashgabat, Turkmenistan. "Bulgarian business is manifesting an increasing interest in dynamically developing economy in the Central Asian country and is ready to be incorporated into current projects with supplies, works and services", announced Minister Stoynev to Minister Taganov. The Turkmen side advised Bulgarian companies of the project in which they could participate such as in the field of housing construction, road infrastructure, ports, development of energy and gas infrastructure, petrochemical industry and agriculture. The opportunities for delivery of plant and equipment manufactured in Bulgaria needed for development of the Turkmen food processing industry was also discussed. A strong interest to the experience of the National Company "Industrial Zones" is shown, in a view of the intentions of Turkmenistan to develop a special economic zone along the Caspian Sea called "Awaza" as a center of tourism and high technology.

On Bulgarian business initiative, an establishment of a joint Chamber of Commerce as well as "Trade House" - Bulgarian in Ashgabat and Turkmen in Bulgaria was discussed to facilitate the contacts between the two countries and the direct exchange of information on tenders, procurement opportunities and joint projects.

Within the intergovernmental session, Minister Dragomir Stoynev held meetings with the Minister of Trade and Foreign Economic Relations of Turkmenistan Mr. Bayar Abayev, the Minister of Oil and Gas Industry and Mineral Resources Mr. Muhammetnur Halilov and the Minister of Energy Mr. Geldi Sariev.

The Bulgarian-Turkmen Intergovernmental Commission is held four years after the first session in Sofia. It was attended by representatives of the Bulgarian companies included in the business delegation. Representatives of 20 companies from different areas as road construction, cosmetics, engineering, construction of ports and fish farms, transport and products of Bulgarian defense industry will be able to make contacts with partners from Turkmenistan. Upon completion of the session of the Intergovernmental Committee, a business forum will be held. It will be attended by the Minister of Economy and Development Babamurat Taganov, the Chairperson of the Commerce and Industry Chamber Alexander Dadaev and Scientific Secretary of the Turkmen Academy of Sciences Yusul Hekirov. The Bulgarian business will present particular projects in the field of fish production, road construction and construction of a cosmetics factory.

 

 

Trade and economic relations between Republic of Bulgaria and Turkmenistan

1. Trade turnover (mln. USD)

Year

Total turnover

Export

Import

Balance

2008

30.740

2.560

28.180

- 25.620

2009

13.650

4.410

9.240

-4.830

2010

19.880

1.520

18.360

- 16.840

2011

45.819

3.360

42.459

- 39.099

2012

62.223

21.940

40.283

- 18.344

2013

79.067

6.999

69.128

- 62.129

2014

76.552

26.220

50.332

- 24.102

2015

18.028

11.093

6.936

4.159

2016

13.283

10.441

2.842

- 7.598

I-VI 2016

2.390

1.718

0.672

1.046

I-VI 2017

5.795

1.235

4.560

- 3.325

Source:Ministry of Economy