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During the soviet period, Turkmen SSR was the source of raw materials (mainly cotton and energy resources), which where transferred to other countries of the Soviet Union for further processing.
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During the soviet period, Turkmen SSR was the source of raw materials (mainly cotton and energy resources), which where transferred to other countries of the Soviet Union for further processing. Till the end of 1991 Turkmenistan never made trade with other countries on its own. In the middle of nineties government activated foreign-economic activity with the purpose of bargaining and organizing joint ventures with foreign companies in such sectors like light and food industry, exploring and developing energetic resources. Economic changes in Turkmenistan followed immediately after the country became independent. In 1994 inflation exceeded 2400% , and GNP in the same period descended on 50%. Only in 1995 began to make a temperate reforms on "perestroyka" and development of economy. As a result inflation degree was descended to 100 % in year, however pegged manta (Turkmen currency) and various difficulties for foreign investors and credit organizations (World Bank, ICF) lead...
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