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After lengthy negotiations, Turkmenistan and Georgia came to an agreement on the resumption of the transit of Turkmen oil through the Georgian territory. The parties signed a three-year agreement, which envisages that half a million tons of oil can be annually transported via the Georgian railway corridor. General Director of “Caspian Transit” Rati Gvamberiya and Director of “Georgia Transit” (a subsidiary of the JSC “Georgia Railway”) David Chiradze reported this information during the recent press conference.



In Turkmenistan, plans are afoot to actively develop the electronics industry, as reported by local media. With the assistance of the Ministry of Industry, the Union of Industrialists, the Academy of Sciences and representatives of business, there have been developed projects for construction of a number of factories specializing in production of various kinds of electronics.


In Turkmenistan, plans are afoot to transform the air transport enterprise “Turkmenistan Airlines” of the State National Service into a public company. According to the press service of the government, the Air Code of the country is based on a new concept of civil aviation activities. Inter alia, it envisages establishment and consolidation of market relations in the aviation, as well as formation of a civilized market of air transportation.



In the near future, Turkmenistan intends to begin development of the promising “North Goturdepe” oil field that is located on the Caspian Sea shelf. A number of Turkmen media reported the news, citing the words of Deputy Prime Minister Yagshigeldi Kakaev. During the first meeting of the Turkmen government in 2017, the official noted that the findings indicate the presence of rich hydrocarbon reserves in the “North Goturdepe” field. In this regard, the state concern “Turkmenneft” created a project for development of this field.



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.



Turkmen banks have introduced a number of new restrictions on cashing out for the country's entrepreneurs. From now on, representatives of the local business can only withdraw from their accounts of TMT3,500 in cash (about $1,000 at the official exchange rate). According to local media, such a step was taken to reduce the burden on the ratio of the exchange rates “TMT - USD” through a partial freezing of accounts.



In 2016, Turkmenistan's construction industry expanded considerably, in accordance with the two related national programs. They are the National Program of Socio-Economic Development of Turkmenistan in 2011-2030 and the National Program for Transformation of Social and Living Conditions of the Population of Cities, Towns and Villages in the period before 2020. According to the Ministry of Construction, the 2016 results demonstrated that the country put into operation a total of 202 facilities worth more than $5 billion.



On January 1, 2017, the Law of Turkmenistan “On the Ombudsman” became effective. It determines the powers, rights, duties, guarantees, and the main activities of the authorized representative for human rights. The post of Ombudsman was established in order to provide state guarantees of the protection of freedoms and rights of a person and citizen, and the compliance with them on the part of state authorities, officials and local authorities.


As of December 31, 2016, the construction of a gas and chemical complex in the vicinity of the Kiyanly village in the western part of Turkmenistan was 90 percent completed. According to representatives of the Turkmen oil and gas industry, to date, the enterprise under construction already has dozens of different pieces of equipment installed, overpasses built, pipes laid, tanks for water and hydrocarbons installed. Construction of most of the major buildings and structures is already virtually completed; in the beginning of 2017, plans are afoot to start the commissioning.


The Turkmen Foreign Ministry issued an official statement, commenting on the recent media reports regarding the situation in the Turkmen-Iranian relations, specifically in the field of natural gas supply. The document states that its purpose is “to truly determine the situation that has been prevailing in the gas sector in recent years.” This is related to the controversial publications regarding the ceasing of gas supplies to the Islamic Republic of Iran.