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

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

Digital technology to accelerate Indian business growth

Indian business will benefit much by going digital, according to a...

Textiles | On 27th Mar 2017

Raymond to buy 98,000 metres khadi fabric from KVIC

Raymond, leading Indian fashion retailer, has ordered 98,000 metres...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search