Turkmenistan to streamline its textile industry to attract investments

Turkmenistan plans to streamline its textile industry to increase the manufacturing of competitive products and attract investment in this industry as it holds an important place in its economic system, the country’s President Gurbanguly Berdimuhammadov said.

Turkmenistan traditionally grows cotton, which serves as a basis for developing the textile industry. The annual turnover of the textile industry is about $400 million as of 2014.

During the last meeting of the Cabinet of Ministers, the issues related to the development of the textile industry were discussed.

This industry was represented by 74 companies – 32 textile complexes, cotton spinning and weaving factories, 17 garment factories, seven silk industry enterprises, two wool processing and three knitted goods enterprises – as of 2013.

Throughout the years of independence tens of textile enterprises worth over $1.6 billion have been built in Turkmenistan.

The operating facilities in Turkmenistan allow to annually produce up to 177,000 metric tons of different yarns, 186 million square meters of various cotton fabrics, 11,000 metric tons of various kinds of knitted fabrics, 7,200 metric tons of terry fabrics and 80 million pieces of knitwear and garments.

The major part of the products is export to the US, Canada, Germany, UK, Russia, Italy, Turkey, China, and Ukraine. Companies as Puma, Bershka, Nautika, Sara Lee, Casual Wear, Wal-Mart, Miss Erica, Vespolino, JC Penney and others are among the customers of finished goods.