|                                                                                                                                                             |  | COMPANY REGISTRATION IN TURKMENISTAN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
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|**BISNISHome PageSearchBISNISEmbassyReportsCountryReportsIndustryReportsPublicationsSourcesof FinanceLeadsand EventsExchangeRatesState ExportsOtherSources** |  | July 1997Turkmenistan classifies business activity into two distinct categories, "export/import" and
"investment," and treats registration differently depending on the category.  Import/export
contracts are registered only with the State Commodities and Raw Materials Exchange
(CRME), which regulates foreign trade in Turkmenistan (see BISNIS Bulletin,  January
1997, Page 3).  A foreign company intending to "invest" in Turkmenistan--which includes
creation of a joint venture with a Turkmen or other foreign firm, or a branch or affiliated office,
with the idea of investing capital, technology, or expertise--must register with the State Agency
for Foreign Investment (SAFI) and the CRME.SAFI was created in 1996 to attract foreign investment and monitor the implementation of
investment projects in Turkmenistan.  Before a potential foreign investor can register and begin
operations, SAFI must first approve the firm's investment project, taking into account the
project's feasibility and economic importance to Turkmenistan.  Only after SAFI has approved a
project can a company register in Turkmenistan.  Extensive documentation is required. For
more information, including a detailed list of documentation, visit BISNIS Online at
www.mac.doc.gov/bisnis/cables/970604tx.htm.This report is provided courtesy of the Business Information Service for the Newly
Independent States (BISNIS)