Turkmen businessmen study export strategies

Turkmen businessmen study export strategies

More than 20 Turkmen businessmen took part in a seminar of the European Bank for Reconstruction and Development (EBRD) to learn from the best international experience in the field of export.

Export is always associated with great risks for any business, but this challenge allows companies to grow the fastest, said Jonathan Walden, a specialist with 35 years of experience in trade facilitation, who was invited to conduct a course.

In 2015, at the state level, Turkmenistan adopted a program to increase production for deliveries abroad. Today, the country exports 50% more than imports. This was achieved, in part, thanks to a business that is making more and more efforts to penetrate foreign markets.

The seminar, organized by the EBRD with the financing of the European Union together with the UK government, brought together leaders and specialists from small and medium-sized enterprises. Many already have experience in export operations, and some are only considering these prospects. They were given excellent opportunities to put their plans into practice thanks to the invited employees of foreign trade missions who spoke about export opportunities to the regional markets..

Being an exporter in Turkmenistan can be said to be prestigious, an employee of a Turkmen company manufacturing products from polymers told in an interview with ORIENT. The state encourages private companies to build capacity. For example, the more a product is produced in a country, the higher tariffs become for foreign companies that import analogues, and this is a huge support for entrepreneurship, he said.

In small and medium-sized firms in the country, there are more and more employees, or even special departments that are engaged in researching the markets for goods, including foreign ones, said one of the co-organizers of the training based on their own observations. This is really important, as it demonstrates the level of business development in the whole country, he stressed.

In the framework of the first part of the seminar, before the discussion turned to the subtleties of paperwork and their types, analysis of market analysis and the like, the trainer shared with the course participants the basic principles necessary for successful export.

Orient cites some of them:

In order to interest the importer, it is necessary to provide him with as much information as possible not only about the finished product, but also about the methods of its production, the standards of the company’s work, its real possibilities.

For successful export it is necessary to know the culture of the markets of the countries to which the products are scheduled. Bitter chocolate may be loved in one country, and no one will buy it in another, and trying to export it there is a waste of energy.

If the product is very high quality, but at the same time expensive, it is better to think about its supply to developed countries with high incomes. The same applies to products of medium quality with low prices. At home, it will not be appreciated, and in low-income countries may become popular.

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After the seminar, the participants were given the opportunity to get personal advice from the trainer, who helped them in developing individual export strategies for each particular firm, taking into account its needs.