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Turkmenistan creates consumer funds to provide stable food products

Business Materials 7 February 2021 22:32 (UTC +04:00)

BAKU, Azerbaijan, February 7

By Jeila Aliyeva - Trend:

The Ministry of Trade and Foreign Economic Relations of Turkmenistan in order to provide the population with stable food products, consumer funds have been created, which are formed at the expense of goods produced in the country and imported from abroad, Trend reports with reference to Turkmenistan’s State News Agency.

This was stated by Minister of Trade and Foreign Economic Relations Orazmyrat Gurbannazarov at a working meeting organized by President of Turkmenistan Gurbanguly Berdimuhamedov, which reviewed the results of the development of the country's trade complex last year.

The ministry has 157 enterprises under its jurisdiction. In 2020, the growth rate of trade turnover was 6.6 percent, and the production of goods and services – 16.1 percent.

To date, 138 objects under the jurisdiction of The Ministry of Trade and Foreign Economic Relations of Turkmenistan have been gradually privatized. In addition, work is underway to transform production enterprises into joint-stock companies and to modernize them together with representatives of the private sector.

As part of the implementation of the " Turkmenistan approves Concept of Development of Digital Economy for 2019-2025", practical steps are being taken to expand the e-commerce system, establish settlements of stores and trade enterprises through the digital system, and improve the rules of online trading based on international experience. The Ministry's Computer Technology Center has established the production of computers for students.

The total volume of trade turnover has increased by 6 percent from January through November 2020, compared to the same period last year.

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Follow the author on Twitter: @JeilaAliyeva

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