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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


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