(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, October 16. The Saint Petersburg International Mercantile Exchange and the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) have agreed to cooperate on technological modernization, joint product development, and inter-exchange trading, Trend reports via the Saint Petersburg Exchange.

The agreement identifies five key areas, including upgrading software products for exchange trading, sharing technological research, and developing modern trading methods tailored to market participants. Both exchanges also plan joint marketing research and promotion of exchange-traded commodities such as petroleum products, cotton fiber, and chemical and textile products.

A central component of the partnership is the creation of new inter-exchange products and the organization of cross-platform trading. Mutual visits of delegations are planned to exchange experience and best practices in exchange technologies.

“Cooperation with the State Commodity and Raw Materials Exchange of Turkmenistan will strengthen interactions between the businesses of our countries. Ultimately, our work will form the basis for the formation of a unified market and information space,” said Igor Artemyev, President of the Saint Petersburg Exchange.

“We have ambitious plans for marketing research and information exchange about the commodities traded on our markets. Based on this, we will begin organizing direct inter-exchange trading,” added Batyr Volsakhatov, Chairman of the SCRMET Board.

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