Production Rate in Turkmen Trade Ministry Amounts to 102.8%

Production Rate in Turkmen Trade Ministry Amounts to 102.8%
Exhibition dedicated to the 31st anniversary of the Independence of Turkmenistan, Ashgabat, Turkmenistan, September 20, 2022

The rate of production at the Ministry of Trade and Foreign Economic Relations of Turkmenistan in January-July this year amounted to 102.8 percent, Batyr Atdayev, Deputy Prime Minister for Trade Complex, Textile Industry and Entrepreneurship, said in his report at an online cabinet meeting hosted by President of Turkmenistan Serdar Berdimuhamedov on Friday.

The Vice-Premier stressed that the Ministry of Trade and Foreign Economic Relations has achieved a growth rate of trade turnover at the level of 104 percent. At the same time, the enterprises of the Ministry of Textile Industry showed the following indicators: the volume of cotton yarn production was 103 percent, fabrics – by 107.2 percent, garments and knitwear – by 101.3 percent, and leather products – by 114.2 percent, according to the country's official media.

The State Commodity and Raw Materials Exchange of Turkmenistan has held 172 trading sessions since the beginning of this year, registering 18,085 contracts. The growth rate of works performed by the Chamber of Commerce and Industry for the period from January to July amounted to 111.3 percent. Within the framework of the Union of Industrialists and Entrepreneurs of Turkmenistan, there is an increase in the volume of agricultural and food production by 106.1 percent, and industrial production – by 110.8 percent.

Following the report, President Serdar Berdimuhamedov stressed the importance of carrying out comprehensive work to create new production capacities and increase the volume of export products.

Turkmen President placed special emphasis on intensifying the process of introducing a digital system into the activities of the State Commodity and Raw Materials Exchange, improving the procedure for registering export-import contracts and the methodology for setting tariffs, and addressed the Vice-Premier with relevant instructions.

The government meeting discussed the reports of the vice-premiers on the results of the work done for January-July of this year and considered the priority tasks of the country's socio-economic development.