Home / Knowledge / News / Textiles / Turkmenistan eyes higher textile share in GDP
Turkmenistan eyes higher textile share in GDP
28
May '11
Turkmenistan is now eyeing a higher textile industry share, which with a 12 percent share in the GDP, is the country's second largest industry, next to oil and gas which has a 23 percent share.

As indicated by the Textile Ministry data, during past 20 years of Independence, the country has invested around seven million US dollars in the domestic textile industry, which is now able to export one-third of total produce.

The Textile Ministry revealed that the country now processes around 80 percent of the cotton that it produces. But earlier, when the country was under the Soviet reign, it retained only three to five percent of the cotton that it produced, while the rest was taken away by other Soviet republics.

Yurii Kuzminko, a private entrepreneur from Donetsk in Ukraine, who initially bought Turkish and Chinese merchandise, began purchasing textile goods from Turkmenistan about 10 years ago, and is still continuing to purchase as he is happy with Turkmenistan products.

However, Turkmenistan's textile industry is now concentrating on expanding in overseas markets.

In the early part of the current year, President Gurbanguly Berdymukhammedov, in a cabinet session asserted on the need to boost textile exports and even reprimanded the Deputy Textile Ministers for their sluggish attitude in helping the industry to penetrate into foreign markets.

Some industry experts opine that the country's textile industry functions under complete centralization, which seeks absolute compliance. Regrettably, the industrialists in the country have no liberty as they cannot sign agreements with potential overseas customers.

In spite of such conditions, customers repeatedly approach the textile industrialists in the country to place orders for readymade garments.

It is being expected that the Government would announce the easing of some regulations on Textile Workers' Day which falls on June 5.

Fibre2fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Urmil Arya

Sushila International, a well established textile organisation established ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search