Turkish, Turkmenistan central banks ink cooperation agreement

ANKARA

The central banks of Turkey and Turkmenistan inked an agreement to develop cooperation, a statement revealed on Tuesday.

The statement by the Turkish Central Bank said the banks signed a memorandum of understanding on Saturday, "laying the groundwork for continued cooperation."

Turkey and Turkmenistan signed eight deals on Saturday during Turkish President Recep Tayyip Erdogan's visit to the Central Asian country to attend the Economic Cooperation Organization (ECO) summit.

Both countries target a $5 billion bilateral trade volume.

"We are determined to take the necessary steps to increase our trade volume to $5 billion, as planned," Erdogan had said at a joint news conference alongside his Turkmen counterpart Gurbanguly Berdimuhamedov.