Italy exploring prospects of partnership with Turkmen private business

Business Materials 29 March 2019 16:04 (UTC +04:00)

Ashgabat, Turkmenistan, March 29

By Huseyn Hasanov – Trend:

A meeting with Italian Undersecretary of State for Foreign Affairs Manlio Di Stefano was held at the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), Trend reports with reference to the UIET.

The delegation from Rome made a presentation of the possibilities of companies in the field of space technologies, oil and gas production, manufacture of steel pipe products, agricultural equipment, fertilizers, as well as in the fields of transport and communications, trade and banking services.

During the conversation, an exchange of views on the development of partnership took place. The meeting participants stated that there are favorable conditions for enhancing cooperation in the widest range of areas of mutual interest, the report said.

Measures are being taken in Turkmenistan to intensify investment activity of small and medium-sized businesses.

As of 2018, over 1,015 enterprises subordinate to the UIET operate in the agro-industrial complex.

Local companies are focused on producing a wide range of agricultural and food products that cover the needs of the Turkmen markets. There are 597 enterprises, including those producing building materials, textiles and carpets, chemicals, metal products, furniture, earthenware, glass products, as well as polyethylene and plastic products that are in demand in the domestic and foreign markets.

In accordance with the state program of Turkmenistan, the share of the non-state sector of the economy in the volume of gross domestic product should reach 70 percent until 2020.