ANNUAL REPORT JUNE 2010
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
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.
Shaberdi Meredov
CEO
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. Shaberdi Meredov
PAGE 142
E-mail [email protected]
Website www.turkmenbusiness.org