Turkmenistan’s President Gurbanguly Berdimuhamedov has signed a decree to provide customs privileges to private producers from May 1, 2016.
The document will make it possible to stimulate the local producers, protect their interests regarding the competitiveness of products.
Foreign trade contracts of legal entities of the private sector and the contracts of private entrepreneurs on the export of Turkmen products will be exempted from registration in Turkmenistan’s state commodity exchange.
Currently, the private sector of Turkmenistan’s economy accounts for 62.3 percent of GDP.
The volume of export from Turkmenistan (excluding the fuel and energy sphere) increased by 11 percent in the first quarter of 2016, as compared to the same period in 2015.
The volume of consumer goods imported from abroad has dropped by 18.9 percent.