Tajikistan and Turkey to Increase Trade Turnover to $1 Billion

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Tajikistan and Turkey intend to increase bilateral trade turnover to $1 billion in the coming years. This was stated by the Turkish Minister of Industry and Technology Mustafa Varank at the Industrial Forum of Tajik and Turkish Entrepreneurs, which was held today in Dushanbe as part of the meeting of the Intergovernmental Commission on Economic Cooperation.

The forum was attended by heads of relevant ministries, departments, business, and investment circles of Tajikistan and Turkey.

The main goals of the forum were the expansion of trade and economic cooperation between the two countries, presentation of economic and investment opportunities, attraction of Turkish investors to the Tajik economy, and use of Turkish experience in the development of the Tajik economy.

Minister of Industry and New Technologies Sherali Kabir noted that Turkey is one of the important economic and trade partners of Tajikistan.

“In the first six months of this year, trade between the two countries has reached $177 million. In 2020 the trade turnover was equal to $323 million. Prior to the COVID-19 pandemic, trade between the two countries had exceeded $700 million,” he said.

According to the Tajik Minister, at present, about 60 joint industrial enterprises have been established between Tajikistan and Turkey, and Vafo Trade Center operates in Dushanbe for the development of economic and trade cooperation between the two countries. Direct flights between the two countries are operated by Somon Air from Tajikistan and Turkish Airlines from Turkey, which make a significant contribution to the transportation of passengers and the expansion of economic and trade relations between the two countries.

Kabir called on the Turkish business community to contribute to the development of the Tajik economy, especially industry, noting that Tajikistan has rich resources of green energy, agricultural products, mining, and tourism. Likewise, their development, especially the processing of agricultural products and packaging, and modernization of industrial enterprises needs investors.

He stressed the importance of creating technology parks in Tajikistan, where Turkey has rich experience.

He added that the new Tax Code of Tajikistan provides investors with benefits and incentives to create technology parks in Tajikistan. Also, in the near future, a law on Technological Parks will be adopted in Tajikistan.

Turkish Minister Varank said that Turkey is geographically a bridge between Europe and Asia and has great logistics potential to transport goods to other countries.

“The country exported goods and products worth about $200 billion a year,” he noted.

Varank added that ensuring the sustainability of his country’s economic development is possible through deepening bilateral and regional relations.

In this regard, the he noted that Tajikistan and Central Asian countries as a whole are important points on the path of trade and economic cooperation.

He added that the statistical indicators of trade between Turkey and Tajikistan cannot be satisfactory, since this indicator is far from the available opportunities.

“Our goal is to bring the trade turnover between Turkey and Tajikistan to $1 billion, as established by the heads of our states, and as soon as possible. To achieve high results, we are ready to take all the necessary measures and use the existing opportunities and potential effectively. I am confident that traders will easily achieve this goal with new investments and projects,” Varank stressed.

As part of the forum, a bilateral meeting of Tajik and Turkish entrepreneurs was held in a B2B format, during which documents on cooperation were signed between Tajik and Turkish enterprises and companies that make a significant contribution to strengthening economic cooperation between the two countries.

Source: National information agency of Tajikistan