Business news

“Our embassy should treble our efforts. Our task is to raise the trade to $1 billion. Today we are exploring the ways to accomplish this task,” Oleg Tabanyukhov said.

In 2016 the Belarusian exports to Turkmenistan exceeded $112 million. Belarus sold earthwork machines and equipment, freight railcars, tractors, tractor units, elevators, structural steel, medications, ethanol, special vehicles, electric transformers, building structures, cheese and quark.

Belarus’ export of services to Turkmenistan made up around $160 million in 2016. The exports of educational services amount to $20 million a year. The two countries can increase trade in construction, healthcare, tourism, business and IT. “This is not the limit. The peak year was 2013 when our exports to Turkmenistan made up $320 million. That year we sold much equipment for the Garlyk mining and processing factory and signed many equipment supply contracts,” Oleg Tabanyukhov explained.

Increased supplies of Belarusian agricultural equipment to Turkmenistan can help raise the trade although the competition in this sector is strong. “We managed to spot a niche in the market. We expect the visit [of the Belarusian president to Turkmenistan] to result in some agreements in this area,” Oleg Tabanyukhov noted.

Belarusian-made elevators are in a high demand in Turkmenistan. Belarus plans to export around 600 items of this equipment to that country in 2017.

“Turkmenistan is the country we rely on in Central Asia. It borders on Iran, Turkey, Pakistan, Afghanistan and China. This is the place from where we can branch out into the markets of third countries,” Oleg Tabanyukhov said.