Azernews.Az

By Aynur Jafarova

Turkmenistan will participate at the specialized fair 'Fashion and textile' to be held on April 19-21 in the Latvian capital Riga, according to Turkmen media.

Turkmen Ministry of Textile Industry, the State Joint Stock Corporation Turkmenkhaly ('Turkmen carpet'), the Chamber of Commerce and Industry, and the Union of industrialists and Entrepreneurs of Turkmenistan will present their products at the fair.

Turkmen textiles, fashion collections, carpets and jewelry will be exhibited at the fair, the local media reports said.

A Turkmen delegation will attend a conference which will be held in the framework of the fair and a working meeting devoted to the Turkmen-Latvian relations in the textile industry sector.

Participation at the fair will promote the popularization of Turkmen textile, carpet and jewelry goods in foreign markets and further development of trade and economic relations between Turkmenistan and Latvia.

The textile industry in Turkmenistan is developing on the basis of an increase in domestic cotton wool processing. About 1.2 million tons of raw cotton have been harvested this year.

In the years of independence, more than $1.650 billion has been spent on the reconstruction and modernization of the existing textile facilities of Turkmenistan, and 18 percent or $300 million of the amount came from foreign investment.

According to Neutral Turkmenistan newspaper, Turkmen President Gurbanguly Berdymukhamedov said at the latest government meeting that presentation of investment, technology and export potential of the textile complex will open up new opportunities for access to the markets of Baltic states, which represents a perspective segment in European trade.

According to the Turkmen news agency Dovlet Khabarlary, the Turkmen president paid special attention to the issue of the modernization of textile industry, the development of production infrastructure and the upgrade of quality, which will increase exports.

Berdymukhamedov said that development of partner ties with foreign businessmen is a key issue of the Turkmen economic policy. According to the Turkmen leader, it is necessary to expand the geography of ties by exploring new markets and strengthening the position of Turkmenistan in the foreign trade turnover of various countries.

Earlier, Turkmen Minister of Textile Industry Saparmyrat Batyrov said that Turkmenistan will attract foreign investments to the textile industry of the country.

According to the minister, Turkmenistan cooperates with leading foreign companies and international financial institutions such as the European Bank for Reconstruction and Development, Japanese Bank of International Cooperation and Mitsubishi Corporation. The program on the development of textile industry for 2012-2016 envisages the attraction of investment worth $1.056 billion.