Turkmenistan Will Increase Investment in Textile Industry to Promote Exports

Business News Agency April 12 The textile industry is an important industry in Turkmenistan's non-energy sector. Soil cotton textiles, especially Ring cotton yarns, enjoy a good reputation in the international market. In the 19 years since its independence from 1991 to 2010, the Turkish Communist Party has invested 1.3 billion U.S. dollars, established 30 new textile enterprises with internationally advanced equipment, and renewed and reconstructed old enterprises, which has greatly improved the overall level of the textile industry. The processing capacity of lint has been increased from 3% to 51%, and the quality of export products has improved significantly. At present, there are 72 types of enterprises in the local textile system, and the average annual value of textiles is 300 million U.S. dollars.

In order to expand exports, Tu has formulated a plan for the development of the textile industry by 2020. According to the plan, within the next 10 years, Turkmenistan will invest 2 billion U.S. dollars to build a processing company in each cotton producing area in the country to produce export products. The newly built companies will all adopt advanced Italian production equipment and processes as well as German quality inspection equipment.

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