Topic: Economics of Development
Country: Turkmenistan
Delegate Name: Kaichen Tang
School: Grand Blanc High School
Topic page: background guide and all position papers All Turkmenistan position papers GLIMUN 2015 committees
Turkmenistan is one of the world’s fastest-growing economies. Turkmenistan’s economy is mainly based on its natural gas and oil resources; its economy is primarily upon a resource extraction sector. As a result of a resource extraction based economy, the country’s economy is peaking. Turkmenistan is one of the only countries with a well developed economy based on a resource extraction sector rather than a service sector.
Turkmenistan is ranked number four in the world for natural gas resources, it is one of the most successful countries in the world, economy wise. Not only is Turkmenistan ranked number four in natural gas resources, but it is also one of the top ten one of the cotton producers in the world. With three and more factors fueling our economy, we have been at a pretty “stable” state as an economically developed country. Turkmenistan’s natural resource reserves has also made a promising foundation for the growth of a diverse set of industries and economic sectors.
Other countries should follow the footsteps of Turkmenistan and find a way that can either put their land to use or produce a product that sets them apart from other countries so that they can gain more in export, than they do imports, A resource extraction based economy provides an advantage and a need for the country pertaining to other countries. An economy based on resource extraction can provide a country with a sort of invincibility, especially if their resource is a necessity. If a country can produce their own resources, it would be both beneficial for them, and other countries. Turkmenistan fully supports an economy based on resource extraction. If other countries were to follow a resource extraction model, prosperity would be a common economic situation throughout the world. Resource extraction has kept Turkmenistan’s economy booming, as well as enabled them to become one of the most successful countries in the world. Turkmenistan has prospered like no other and if countries begin to follow an economic plan based upon resource extraction, they will prosper alongside with this great
