Turkmenistans Trade With China Declines

The volume of bilateral trade between Turkmenistan and China has decreased over the past two years, which was caused by the ongoing global economic crisis. Chinese ambassador in Ashgabat Sun Weidong made this statement in an interview with representatives of a local newspaper. According to the materials dedicated to the 25th anniversary of establishment of the Turkmen-Chinese diplomatic relations, the Chinese diplomat noted the volume of bilateral trade amounted to about $4.5 million in 1992, and in 2013 the figure exceeded $10 billion.

The Chinese Ambassador also added, “Over the past five years, China has been Turkmenistan's largest trading partner.”

“Under the influence of the current sluggish international trade, the depression in the market of energy resources and a number of other factors, the bilateral trade expressed in monetary terms has decreased over the past two years. However, the physical volume remains the same. During the first 11 months of 2016, the bilateral trade turnover between our countries reached the level of $5.4 billion,” the Chinese ambassador said.

Sun Weidong also stressed that since the world's largest 1,800-km cross-border gas pipeline linking Turkmenistan with China was put into operation in late 2009, China has acquired a total of 160 billion cubic meters of Turkmen gas, becoming its largest importer. According to him, about one-third of the gas consumed by the residents of Beijing accounts for the gas supplied from Turkmenistan.

“By the reserves of natural gas, Turkmenistan ranks fourth in the world; China, on the other hand, is one of the largest consumers of energy resources. There have already been built three pipe lines “Turkmenistan – China” with a total annual capacity of 55 billion cubic meters. Plans are now afoot to build the fourth line,” the Ambassador of China said.

Source: easttime.info
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Turkmenistan's Trade With China Declines