Russia remains one of Turkmenistan's key trading partners with an annual trade turnover of over 1.6 billion US dollars. This was stated by Vice-Chairman of the Cabinet of Ministers of Turkmenistan Hojamyrat Geldimyradov at an official reception in honor of Russia Day, organized on June 11 by the Russian Embassy at the Yildiz Hotel, the news portal of the State Television and Radio Broadcasting Company of Turkmenistan reports.

- Turkmenistan and the Russian Federation are linked by a strong strategic partnership based on rich historical experience, good neighborliness and mutual respect, - the Vice-Chairman said.

As reported by the Orient news agency, Geldimyradov noted the positive dynamics of growth in mutual trade turnover and the noticeably changing structure of Turkmen exports to Russia, where the share of processing industry products is increasing.

The Vice-Chairman also emphasized that the Kazakhstan-Turkmenistan-Iran railway opens up broad prospects for increasing the volume and quality of trade and economic cooperation along the North-South line.

In his opinion, there is enormous potential for cooperation in industry and energy, transport, transit and logistics, the digital economy, as well as in the private sector.

The Vice-Chairman noted that the Intergovernmental Turkmen-Russian Commission on Economic Cooperation has established itself as an effective platform for developing joint solutions, discussing promising areas of cooperation, and implementing mutually beneficial projects.

- Thanks to the work of the commission, contacts between business circles, regions, relevant ministries and departments are expanding. This, in turn, opens up new horizons for deepening mutual trade, creating joint ventures, developing logistics chains and the digital economy, - the Vice-Chairman said.

He emphasized the special importance of humanitarian partnership. “Active cooperation continues in the fields of science, medicine, sports, as well as in preserving the common cultural heritage”, Geldimyradov noted.