Azernews.Az

Turkmen President Gurbanguly Berdimuhamedov indicated to the Turkmen parliament the need to enhance the transition to full-fledged market economy relations.

During an expanded government meeting, he said that most of the laws adopted in the country 10-15 years ago, are already out of date and the package of laws "On foreign investments", "On Property" and "On Budget System" need to be updated.

Turkmenistan is reach with natural gas. Cotton and grain export volumes are produced here and the diversification of economy is carried out. The textile industry and oil and gas processing industries have especially developed in Turkmenistan.

The country already set a course for gradual transition to a market economy, and this is reflected in the updated constitution of the country. At this stage a series of measures, such as, the denomination of the national currency, unification of exchange rates have been carried out, and the transition to international standards of accounting is planned to be carried out.

The list of prospects for private business include agricultural enterprises, trade, construction materials production, textile enterprises, as well as companies that specialize in capital construction.

Turkmenistan's approved socio-economic development program for the period till 2016 defines objectives, intended to provide transition to market relations without shocks.

"The president's program defines specific tasks that are intended to provide stable and balanced development of socio-economically oriented national economy in the planned conditions, that is a soft transition to market relation without shocks," the Turkmen Dovlet Habarlary reported.

These measures will allow strengthening national economy, turning it from raw materials economy into an innovative, that relies on modernized, high-technological industry.