FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT APRIL 2009
STATE COMMODITY & RAW MATERIALS EXCHANGE OF TURKMENISTAN
The exchange is one of the most important domestic economic
institutions to date and acts as the main body for import and
export operations in the country as well as a government
regulator.
HISTORY AND DEVELOPMENT
The State Commodity and Raw Materials
Exchange of Turkmenistan (SC&RME) was
created by decree of the President of
Turkmenistan, Saparmurat Turkmenbashi, in
29 July 1994. The Exchange is one of the
most important domestic economic
institutions to date and acts as the main
body for import and export operations in the
country as well as a governmental regulator.
There are many indicators of activity
regarding the Exchange. During 2004,
1,071 export contracts for the sum of
US$ 677,577.3 thousand were registered.
These figures are indicative of the favorable
political and economic situation in
Turkmenistan, its rich natural resources, and
of utmost importance, the reliability and
stability of state organizational structures to
attract business from all over the world.
SC&RME has relationships with more than
45 countries.
Business people from Turkey, Russia, the
USA, the UAE, Germany, Great Britain, buy
oil products, liquefied gas, cotton fiber,
cotton yarn, handmade Turkmen carpets,
hides and knitwear from Turkmenistan.
An information and analytical system was
created for the SC&RME to enable direct
operational control of contract execution as
well as for information retrieval. The InfoBase
database will be developed to allow the
retrieval of world quotations on significant
commodities in real time and to facilitate
potential marketing outlets for domestic
commodity production.
FUTURE OUTLOOK
The following plans are currently underway:
• further development of external economic
links with foreign trade companies;
• streamlining the uses of PR companies
and the services they provide in terms of
mass media disclosure;
• expansion of external contacts with
international and regional organizations;
• simplification of the contract registration
procedure; and
• increasing the level of skill and experience
of Exchange staff through interactions
between organizations.
CONTACT INFORMATION
Contact Name Mr. Murad Muradov
PAGE 120
E-mail [email protected]
Website www.turkmenbusiness.org