Turkmenistan increases export capabilities
Ashgabat, Turkmenistan, July 24
By Huseyn Hasanov – Trend:
In recent years, the volume of exports of Turkmenistan increased by 40 percent, Trend reports referring to the Neytralni Turkmenistan newspaper.
This is in line with Turkmenistan’s state program for the production of import-substituting products and an increase in the volume of production of export-oriented goods. In this regard, e-banking infrastructure is developing in the country's credit institutions, the volume of non-cash payments is growing, and lending is increasing with the help of online services, the information says.
According to the report of British Petroleum (BP), Turkmenistan ranks fourth in terms of natural gas reserves in the world. The country sells its natural gas to China and Russia. The country has set a course for diversifying the local economy. Development has been achieved in textile and oil product industries. The oil, gas, chemical, and building material industries are actively developing.
It is planned to implement 33 projects as part of the state program for increasing the volume of exports of products manufactured in Turkmenistan. These envision the creation of new industries aimed at the development of the chemical industry, industry, light industry, engineering, agriculture and food industry, and domestic pharmaceuticals.
Some 81 projects will be implemented as part of the program for the production of import-substituting products. Enterprises will be built for producing construction, chemical, household and other products based on local raw materials. At this stage, enterprises are being built for the processing and production of various types of meat and dairy products, fruits and vegetables and fish products.