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Turkmenistan set to attract investors

Turkmenistan aims to further raise foreign investments and introduce new technologies, creating the most favorable conditions for investors in its textile industry. Over the years of independence, cotton fiber processing has increased from three per cent to 51 per cent in the country.

Currently more than 70 enterprises produce cotton yarn, cotton, terry, denim, knitted fabrics and knitwear in Turkmenistan.

Cotton yarn production in the country increased 2.4 times from 2000 to 2015, cotton production rose four times, and export of textile products 3.2 times.

Turkmenistan features in the world’s top ten cotton producing countries. A problem Turkmenistan has not been able to vanquish is that the country’s textile sector has not been able to establish strong and stable textile export relations with European countries. More than 70 per cent of the country's textile products are exported to the US, Europe, Russia, Ukraine, Turkey, China and Baltic countries. Turkey is also a significant investor in Turkmenistan.

Turkmenistan’s textile industry mainly centre on cotton production. Out of the more than 70 textile enterprises, 32 are cotton spinning and weaving mills, seventeen are garment factories, followed by seven silk enterprises and a few wool processing, knitting and other companies.