Economic forums in Turkmenistan – effective form of international business dialogue

Large sectoral and multisectoral economic forums have become one of the most powerful and meaningful forms of fruitful business dialogue. Timed to coincide with the 27th anniversary of Turkmenistan’s independence, the Exhibition of Economic Achievements deserves particular attention in a 2018 overview. 

The exhibition illustrated the growth dynamics in the fuel and energy sector, agro-industry, construction, transport and communications, healthcare, science, education, culture, sport, tourism, and others. 

Local businessmen and manufacturers, whose number is growing with every year thanks to special measures intended to support and stimulate the non-state sector, also showcased their products and services at the exhibition. Today, Turkmen companies are competing head-to-head with foreign firms in all sectors. 

In recent years, the regions, etraps and white marble-clad capital have evolved dramatically with social facilities, office buildings, comfortable homes, and manufacturing enterprises built and opened systematically. Growth rates of the domestic construction industry and its visible achievements were amply demonstrated on display stands of construction authorities and large construction enterprises. 

Modern transport infrastructure and the provision of quality and affordable services to the population in this field are seen as an integral part of the country’s steady economic development. Exhibits on display offered eloquent testimony to this. 

Not only did the exhibition serve as an effective platform for promoting Turkmenistan-made products, but also offered a chance to look into the not-too-distant future to see what our country would be like thanks to state-of-the-art technologies. 

The 2018 Amul-Khazar Motor Rally was also one of the exhibition’s themes. This significant event for the domestic sport sector has played an instrumental role in popularizing the country’s progress in sport development, and is one of the striking illustrations of Turkmenistan’s peaceful foreign policy. 

Held concurrently with the exhibition, the Scientific Practical Conference entitled “Basic Principles of Turkmenistan’s Socio-Economic Development” focused on topical issues, such as wider international economic ties, market relations, banking, the adoption of innovative technologies in production, social policy, and others. 

Massive efforts are being made today countrywide to technologically upgrade enterprises. Aside from that, launching new complexes for processing locally available raw materials through multiple stages contributes to building a secure foundation for economic growth, keeping domestic consumer markets plentifully supplied with products and enhancing the country’s export potential. 

In this context, of particular note is the International Exhibition of Industrial Products, Equipment and Modern Technology (January 31 – February 2). The specialized forum showcased the achievements and prospective trends of the national economy on the path of innovation-based development, as well as best practices and new developments of 50-plus companies and organizations from Germany, France, Italy, Malaysia, the UAE, Iran, Turkey, Russia, Bulgaria, Uzbekistan, Azerbaijan and other countries, keenly interested in long-term mutually advantageous cooperation with Turkmen partners. 

Business meetings were also held as part of the exhibition to concretize prospective areas of productive partnership. 

Impressive progress has been made in the carpet and textile industries as well. Held this May, the International Carpet and Textile Exhibition of Turkmenistan and 18th Conference of the World Association of Connoisseurs of Handmade Turkmen Carpets, demonstrated not only the achievements in these sectors, but also the enormous economic potential of our independent country, which has been reinforcing its importance and position in the world. 

A substantial number of exhibiting companies from twenty foreign countries testified to great interest of the global business circles in our fast-developing country, their desire to gain a stronger foothold in the prospective Turkmen market. First-time participants in the exhibition had an opportunity to establish direct partner contacts. 

A special section of the exhibition was devoted to silk weaving, an original craft of our ancestors. A colorful collection reflected the rich diversity of traditional carpets with ornamental motifs and modern carpets, created by skillful weavers at handmade carpet enterprises throughout the country. On show were Saraji sheep (whose wool is used to produce high-quality yarn), modern yarn dyeing techniques using plant dyes, and updated carpet looms. 

The exhibition featured for the first time products manufactured by a new export-oriented textile waste recycling facility. 

The 18th Conference of the World Association of Connoisseurs of Handmade Turkmen Carpets is also worthy of note. The forum examined positive results in the conservation and popularization of the Turkmen nation’s spiritual and cultural heritage, as well as ongoing efforts to enhance national hand-woven carpet-making traditions and other traditional crafts, and to employ advanced industrial technologies in the sector. 

The trade sector is regarded as an accurate indicator of social wellbeing and a sphere of direct and day-to-day interaction between producers and consumers. In this context, high-standards of trade and services are a main criterion for the success of national programs. 

Recent years have seen a dramatic increase in entrepreneurial activities with the widespread adoption of modern methods, favorable conditions for increased competitiveness of goods and scientifically grounded output expansion in the business and services sector. 

A notable example is the Trade and Services-2018 Exhibition Fair held this June with the participation of 50-plus enterprises and organizations, directly managed by the Ministry of Trade and Foreign Economic Relations, demonstrating the national trade sector’s potential, development trends in the domestic market, export prospects for commodity producers, and a wide spectrum of services. 

Along with other sectors of the national economy, modernization efforts are well underway in the power industry. Power production output has been rising steadily in line with the 2011-2030 National Program for Socio-Economic Development of Turkmenistan and the 2013-2020 Turkmenistan’s Power Industry Development Conception. 

Held in September, the International Exhibition and Conference entitled “The Key Development Trends for Turkmenistan’s Power Industry” provided ample opportunities to get acquainted with the achievements in the power sector, exchange information about its development prospects, propose and discuss new prospective projects, the effective use of energy- saving technologies and renewable energy resources, and outline areas of mutually rewarding cooperation. 

An annual increase in numbers of forum delegates, in particular with 160 representatives of world power companies, domestic sectoral agencies and private business attending the within-said conference, testifies to rapid growth rates in the sector, keen interest of foreign and our country’s business communities in establishing close partner relations. 

Massive reforms aimed to diversify the economy and stimulate its multidimensional development as well as import substitution and export growth programs are being carried out in the country. As part of the enormous efforts to build innovation-based production facilities, imports have become more diverse and exports have risen steadily.