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FY 1999: Turkmenistan |
CHAPTER I: EXECUTIVE SUMMARYThis Country Commercial Guide (CCG) presents a comprehensive look at Turkmenistan's commercial environment, using economic, political, and market analysis. The CCGs were established by recommendation of the Trade Promotion Coordinating Committee (TPCC), a multi-agency task force, to consolidate various reporting documents prepared for the U.S. business community. Country Commercial Guides are prepared annually at U.S. embassies through the combined efforts of several U.S. agencies.
Turkmenistan is a new, constantly changing market in which the investor or businessman must be flexible, persistent, and patient in order to succeed. A country of vast, untapped natural resources, the opportunities for investment and business are varied and numerous, but the risks inherent in doing business in the former Soviet Union require that potential investors and businessmen proceed cautiously.
Although initially slow to begin reforms, the Government of Turkmenistan now has embarked on a macro-economic reform program, including, inter alia, privatization of industrial enterprises. However, the Government of Turkmenistan (GOTX) is still grappling with how to implement the presidential decrees on privatization, and the problems inherent in a command economy continue to frustrate western companies. All decisions are made at the highest levels of government. Political considerations continue to influence strongly economic decisions. The regulatory and legal foundations of a market economy are still being developed. Business infra- structure and know-how are improving, but still lag behind that of many other countries of the former Soviet Union.
Throughout the Soviet period, Turkmenistan's economy was based on exploitation of its natural gas, oil, and cotton. Today, the GOTX is focusing its attention on expanding export markets for its natural resources and increasing the value of its exports. The GOTX has placed a priority on investment in light industry, transportation and communication networks, and processing facili- ties. In addition, the GOTX has invested in infrastructure improvements designed to attract foreign businesses to invest in Turkmenistan. The GOTX has now turned its attention to reforming its economy and legal system to support these priorities.
Country Commercial Guides are available for U.S. exporters from the National Trade Data Bank's CD-ROM or via the Internet. Please contact STAT-USA at 1-800-STAT-USA for more information. Country Commercial Guides can be accessed via the World Wide Web at: http://www.stat-usa.gov, http://www.state.gov/, and http://www.mac.doc.gov. They can also be ordered in hard copy or on diskette from the National Technical Information Service (NTIS) at 1-800-553-NTIS. U.S. exporters seeking general export information should contact the U.S. Department of Commerce, Trade Information Center by phone at 1-800-USA-TRADE or by fax at (202)482-44~3.H
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Note* International Copyright, United States Government, 1998 (or other year of first publication). All rights under foreign copyright laws are reserved. All portions of this publication are protected against any type or form of reproduction, communications to the public and the preparation of adaptations, arrangement and alterations outside the United States. U. S. copyright is not asserted under the U.S. Copyright Law, Title 17, United States Code.