ASHGABAT, Turkmenistan, September 3. Turkmenistan's Ministry of Trade and Foreign Economic Relations achieved a trade turnover growth rate of 104.5 percent from January through July 2024, Deputy Chairman of the Cabinet of Ministers Batyr Atdayev reported during a Cabinet of Ministers meeting, Trend reports.
During the meeting, officials went over the fruits of their labor from the past seven months and tackled the country's socio-economic development issues head-on.
Atdayev highlighted that production within the Ministry of Trade and Foreign Economic Relations increased by 103 percent compared to the same period in 2023.
The deputy chair highlighted that the Ministry of Textile Industry also saw significant growth, with cotton yarn and fabrics reaching 139.4 percent and 125 percent, respectively. Additionally, sewing and knitwear production grew by 105 percent, and leather production by 119.6 percent.
Further detailing the sector's performance, Atdayev noted that the Turkmenhaly state association fulfilled its carpet production plan at 100.1 percent. The State Commodity and Raw Materials Exchange held 174 trading sessions, registering 16,821 contracts. Meanwhile, the Chamber of Commerce and Industry recorded a growth rate of 103.1 percent, hosting 13 exhibitions and 77 forums.
The Union of Industrialists and Entrepreneurs reported a 107.3 percent growth rate in agricultural and food production, while industrial production increased by 105.8 percent during the same period.
Following the report, President Serdar Berdimuhamedov emphasized the need to enhance the activities of the trade complex and expand the private sector’s production capacity. He underscored the importance of implementing measures to establish new production facilities and boost exports.
The president also stressed the importance of kicking it up a notch when it comes to digitizing the State Commodity Exchange's operations.