Turkmenistan shows interest in investing in Georgia

Georgia and Turkmenistan are deepening bilateral cooperation across a range of sectors including economic, transport, energy, tourism, agriculture and investments.

Today Turkmenistan’s Minister of Trade and Foreign Economic Relations Bayar Abaev visited Georgia and met the country’s Prime Minister Giorgi Kvirikashvili and Economy Minister Dimitry Kumsishvili.

With Georgia’s PM the Turkmen official spoke about a new logistics centre project earmarked for the Black Sea basin, which was initiated by the Turkmenistan side.

The Georgian Prime Minister’s press office said negotiations were underway with the country’s Ministry of Economy and Sustainable Development to implement the project.

Meanwhile at the meeting at Georgia’s Economy Ministry, the sides spoke about deepening economic ties.

Today Turkmenistan’s Minister of Trade and Foreign Economic Relations also met Georgia's Economy Minister. Photo by Georgia's Ministry of Economy. 

Kumsishvili introduced his guests to a planned investment project, to which Abaev expressed his interest in investing and developing warehousing in Georgia.

Additionally the Turkmenistan official said his country would increase the number of oil products it exported to Georgia.

Developing the transport corridor and increasing trade turnover between the two countries was also mentioned at today’s bilateral meetings.

Statistics released by Georgia’s Ministry of Economy showed trade turnover was increasing between Georgia and Turkmenistan.

Last year trade turnover increased 52.1 percent compared to 2014, totaling $127.26 million USD. This was 1.3 percent of Georgia’s total trade turnover.

Similarly last year Georgia’s export to Turkmenistan increased 12 percent, totaling $16.05 million USD, and imports increased by 60.4 percent and amounted to $111.21 million USD.