President Gurbanguly Berdimuhamedov held working session on modernization and improvement of activity of the State Commodity and Raw Material exchange according to the Concept of digital economy and measures related to this objective.
First, the Head of the State has listened to the report of Chairman of the SCRMET B. Chariyev about the work of the exchange. It was mentioned that sale of local production made by different facilities of government and non-government sector is characterized with positive dynamics, contacts with business partners are expanded, special attention is paid to introduction of digital technologies and informational systems to work of the exchange.
Having listened to the report, the President highlighted that certain measures are taken for enhancement of efficiency of activity of the State Commodity and Raw Material exchange, however, it is not enough for solution of important objectives of national economy taking into account the processes of its digitization. Therefore, the Head of the State continued, it is necessary to activate work in some directions that form up the base of exchange trade in new market conditions.
For this purpose, it is necessary to study the practice of foreign exchanges and to implement the mist successful measures, practices and marketing innovations adapting them to our requirements, the President highlighted, having ordered the Chairman to develop the Strategy of Exchange activity.
The purpose of this Strategy is to establish time-bound system of priorities, forms, methods, means and measures of using of resource potential of the exchange for its rapid development in the interest of shareholders, personnel and business partners.
The strategy has to define current situation of the exchange, its place and role in the economy of the state, weakness and strength, competitive environment as well as corporate mission, values and goals, the President noted.
At the same time, it is necessary to establish processes and mechanisms of realization of the Exchange Strategy, measures for specific directions for the next five years, methods of improvement of management and basis of social policy in activity of the SCRMET.
The Head of the State determined three main markets, on which the work has to be concentrated. These are an exchange commodity market, market of Government and corporate procurements and market of electronic commerce. Taking into account the transit of the economy of our country to digital system, it is necessary to accelerate the establishment and to emphasize on the market of electronic commerce, which allows implementing all financial and trade transactions and business processes related to their operation using computer networks, Turkmen leader highlighted.
In the world practice, organizational and legal form of commodity and raw material exchanges is made up in the form of joint stock ventures. Therefore, it is necessary to study the subject of changing of organizational and legal form of the State Commodity and Raw Material Exchange and establishment of joint stock venture, President Gurbanguly Berdimuhamedov said.
It is necessary to make optimum conditions for more effective placement of local production and operation of free wholesale market in our country, the Head of the State continued, having noted that work in this direction has to be carried out on planned basis.
Following the world practice, it is necessary to accelerate the rates of implementation of digital system into operation of the SCRMET, to use capabilities of electronic document management system and e-trade through internet with remote contract entering.
Brokers have to have an access to distant monitoring of trade in live online mode. Therefore, the opportunity for procurement of any commodity from any part of the world would be available, the President noted.
Using innovative approach, special approach has to be paid to provision if integrated solutions to clients including opportunities in logistic sphere. Turkmen leader said that it is necessary to use such services as placement of commodities not only in the place of its production but also hand over at the border, delivery to certain location more actively, having ordered to carry out the works in this direction together with relative organization immediately.
Significant increment of turnover of the exchange transactions and its income will be the result of successful implementation of provided measures.
In addition, the President of Turkmenistan ordered to make stage inspection of commodities for sale and to prepare their description, having collected them in single database, to publish in electronic format and to present it to the ministries and profile departments.
In addition, the requirements for regular provision of tender committees of the Government organization with information about prices at the world market, which are registered at the SCRMET. Turkmen leader gave separate instructions for provision of the State Commodity and Raw Material Exchange with qualified specialists, organization of courses for improvement of their professional level.
Activity of the exchange has an important role in realization of the Programme of social and economic development of the country in 2019 – 2025, which covers all branches of national economy of the country. Raw cotton, textile, oil and petrochemical production including ECO 93 gasoline, which meets world standards, are successfully sold abroad at exchange trades, which is reflected in growing export indicators of the country.
In this context, the importance of improvement of work on modern level and practical implementation of planned measures have been highlighted.
Finishing working session, President Gurbanguly Berdimuhamedov wished success in solution of set objectives to the Chairman of the State Commodity and Raw Material Exchange.
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