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Turkmenistan seeks investments in textile industry
06
Jul '15
President Gurbanguly Berdimuhammadov of Turkmenistan has said that the main purpose of restructuring in the textile industry is to increase the manufacturing of competitive products and attract investments, according to the country’s national television channel.

The issues of development of the textile industry were discussed during the last meeting of the Cabinet of Ministers, the channel said.

Turkmenistan traditionally grows cotton, which serves as a basis for developing the textile industry. In 2014, the annual turnover of the textile industry was about $400 million.

Tens of textile enterprises worth over $1.6 billion have been built in Turkmenistan throughout the years of independence.

The major part of the products is exported to the US, Canada, Germany, UK, Russia, Italy, Turkey, China, and Ukraine. Companies such as Puma, Bershka, Nautika, Sara Lee, Casual Wear, Wal-Mart, Miss Erica, Vespolino, JC Penney and others are among the customers of finished goods.

Turkmenistan produces up to 177,000 metric tons of different yarns annually, 186 million square meters of various cotton fabrics, 11,000 metric tons of various kinds of knitted fabrics, 7,200 metric tons of terry fabrics and 80 million pieces of knitwear and garments. (SH)

Fibre2Fashion News Desk – India

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