Turkmen President Calls For More Trading Houses Abroad

Turkmen President Calls For More Trading Houses Abroad
Trading Houses of Turkmenistan in China

At the expanded meeting of the Cabinet of Ministers on Friday, Deputy Chairman of the Cabinet of Ministers Chary Gylyjov reported on the results of the work carried out on the development of the trade and private sector of the economy in January-June period.

According to the Ministry of Trade and Foreign Economic Relations, the growth of the total volume of trade in the first half of the year amounted to 19.9 percent, while the retail trade turnover increased by 15.3 percent, and the wholesale by 23.5 percent.

During the period, the State Commodity and Raw Materials Exchange of Turkmenistan held 124 trading sessions, during which 15,227 contracts were concluded.

At the Chamber of Commerce and Industry of Turkmenistan, the volume of services rendered in monetary terms increased by 24.5 percent. During the reporting period, 7 exhibitions and 11 conferences were held by the Chamber.

Enterprises of the Union of Industrialists and Entrepreneurs produced industrial products by 5.7 percent more compared to the same period of 2018, while the production of agricultural and food products increased by 6 percent.

President of Turkmenistan Gurbanguly Berdimuhamedov noted that over the past six months, the volume of imports of goods decreased by 19 percent, while exports increased by 12 percent due to the increase in the production of import-substituting products. However, the President said, there are still a lot of untapped reserves in this area.

“Our country has excellent conditions for the development of trade and economic relations with almost all countries of the world,” the President stressed, instructing members of the Cabinet of Ministers to step up activities in order to increase exports of products made in Turkmenistan.

The Head of State also pointed out the need to constantly analyze the conjuncture of foreign markets in order to more effectively promote the goods made in Turkmenistan; to master the best international experience in the field of international trade; and to increase the number of Trading Houses of Turkmenistan abroad.