(MENAFN - Khaleej Times) The Ministry of Foreign Trade on Saturday said that UAE-Turkmenistan non-oil foreign trade has achieved a 52 per cent growth from 2010-2011, reaching around 266 million in 2011, or 513.6 million if free zones non-oil trade is added.
According to the study, which was conducted by MoFT Economic Researcher YousefDiab, the UAE imports from the country rose by 11.9 per cent during the same period.
The study also pointed out that these indicators have positively affected trade between the two countries during the said period in the UAE's favour as a result of the increase in the value of exports and re-exports from the UAE.
It also pointed out that the UAE has achieved a trade surplus with Turkmenistan for more than the last 10 years, more recently going up by 53 per cent from 170.2 million in 2010 to 260.3 million in 2011.
Trade in free zones
The value of free zone trade between the UAE and Turkmenistan reached 247.6 million in 2011; six per cent (14.6 million) of which were non-oil exports; 9.7 per cent (23.9 million) were imports; while re-exports were 84.5 per cent at 209.1 million.
UAE exports to Turkmenistan grew by 150 per cent in 2011 while UAE imports from Turkmenistan increased by 12 per cent from 2.37 million in 2010 to 2.65 million in 2011.
The value of UAE re-exports to the country increased by 42 per cent from 156.4 million in 2010 to 222.7 million in 2011.
The study pointed out that although the UAE contributes a share of Turkmenistan's primary imports, this contribution is considered small and is still not competitive with the most important countries exporting these commodities to Turkmenistan.