Import substitution programme: Achievements and Prospects

19 February 2021
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In the context of modern foreign economic trends, President Gurbanguly Berdimuhamedov sets a goal of raising competitiveness of the national economy and lessening its dependence on external factors. The import substitution programme was developed on the initiative of the leader of the nation. In accordance with this programme, the country is successfully fulfilling the tasks of expanding import substitution production and manufacturing the products able to compete with their imported analogues. Turkmenistan aims its active import substitution strategy at optimising foreign trade turnover, building up the capacity of non-primary commodity sectors, modernising technological facilities and bringing domestically made products in line with international standards. All this facilitates the successful integration of the national economy into the system of world economic relations and its sustainable growth.

Currently, in conditions of the global epidemic, stability and independence of national economies from other countries and enhanced competitiveness of domestic enterprises are of great importance. The most effective and priority options for national economic development include the implementation of the import substitution strategy. The ongoing large-scale work in this sphere carried out in Turkmenistan in compliance with the far-sighted economic strategy of the President is bringing concrete results. The progress in industry, agroindustrial and other sectors, made through the unprecedented support of the national leader is aimed primarily at lessening the dependence of Turkmen economy from imports, improving the standards of living of people and supporting the sustainable development of neutral Turkmenistan. It is obvious that Turkmenistan is becoming a major exporter of a broad range of commodities, and domestic production is successfully developing in the country.

Batyr BERDIYEV,
the Head at the Department of Study of Commodity Circulation in External Markets, Directorate of Study of Commodity Circulation in Internal and External Markets, Ministry of Trade and Foreign Economic Relations of Turkmenistan