Economy
Turkmenistan joins ADB regional platform for ‘green’ investments
17.12.2025Turkmenistan has joined the Asian Development Bank's regional initiative to establish a Natural Materials Market Development Platform aimed at attracting private investment in nature-based solutions to reduce carbon emissions. This was reported by the online publication Business Turkmenistan. The project will be implemented with the support of a $1.5 million grant from the Special Technical Assistance Fund. More than 40 countries are participating in the initiative, including states in Central Asia and the South Caucasus. The platform provides for the assessment of ecosystems, the launch of pilot projects and the formation of a partnership model for the development of the natural materials market and the expansion of ‘green’ investments.
Turkmen vegetables will be delivered to Kazakhstan via ‘green corridors’
17.12.2025At a meeting of the Kazakh government, instructions were given to open ‘green corridors’ at the border as soon as possible to speed up deliveries of vegetables from Turkmenistan. This was reported by the Orient news agency. The measure is intended to curb price increases in winter, primarily for cucumbers and tomatoes, through simplified customs and border procedures. The decision was the result of negotiations between Astana and Ashgabat, which began in November 2025, when the parties discussed the potential for agro-industrial cooperation and plans to increase trade turnover to $1 billion. Turkmen tomatoes are already among the key export items to Kazakhstan. For producers in Turkmenistan, this means a consistent market, lower logistics costs and an incentive to expand greenhouse production, while for Kazakhstan it means more affordable vegetable prices in winter.
Turkmenistan and Estonia: digital transformation of economic statistics
17.12.2025From 9 to 12 December, a delegation from Turkmenistan visited Estonia to study advanced digital solutions in the field of state statistics and economic management. This was reported by the Orient news agency. The visit, organised by UNDP and the State Statistics Committee of Turkmenistan, was aimed at creating a modern digital system for analysing the national economy. Representatives of the Ministry of Finance, the Central Bank and the State Statistics Committee familiarised themselves with Estonia's experience of implementing the System of National Accounts as a tool for accurate, transparent and efficient management of economic processes. Particular attention was paid to the X-Road platform, which ensures secure automated data exchange between agencies and increases the reliability of statistics. The transition to international standards (SNA 2008) will enable Turkmenistan to improve the quality of economic analysis, strengthen investor confidence and form a sustainable basis for long-term socio-economic development.
Turkmenistan and Kyrgyzstan aim to deepen economic cooperation
17.12.2025Turkmenistan and Kyrgyzstan are discussing deepening cooperation in light industry and agriculture, with an emphasis on forming closer economic ties. This was reported by the Orient news agency. As noted by Danil Ibrayev, member of the Presidium of the EAEU Business Council and President of the Union of Industrialists and Entrepreneurs of Kyrgyzstan, the possibility of supplying Turkmen textile raw materials for processing at Kyrgyz enterprises with subsequent sale of products within the country and abroad is currently being considered. In addition, the parties intend to expand mutual supplies of agricultural products: Turkmenistan exports tomatoes to Kyrgyzstan, while Kyrgyzstan exports potatoes. Negotiations on these issues have been ongoing for about a year and are aimed at creating an integrated regional value chain and strengthening trade and economic partnership.
Turkish companies are implementing 19 projects worth $10 billion in Turkmenistan
15.12.2025According to President Recep Tayyip Erdogan, following his visit to Ashgabat and participation in the International Forum on Peace and Trust, timed to coincide with the 30th anniversary of the country's neutrality, 19 projects involving Turkish companies worth approximately US$10 billion are being implemented in Turkmenistan. This was reported by the online publication Business Turkmenistan. Recep Tayyip Erdogan noted that since independence, Turkish businesses have invested approximately US$55 billion in Turkmenistan. The Turkish President emphasised that the country is an important destination for Turkey's major infrastructure and investment projects. The Turkish President also announced plans to increase bilateral trade turnover to $5 billion, noting the potential for further expansion of cooperation. In 2024, trade between the countries amounted to $2.17 billion.
Turkmenistan and Uzbekistan: new prospects for cooperation
11.12.2025Economic cooperation between Ashgabat and Tashkent has reached a new level: bilateral relations have moved from one-off projects and declarations to systematic industrial cooperation, trade expansion, and consistent investment ties. This was reported by the Orient news agency. This course is supported by regular inter-governmental dialogue and concrete infrastructure decisions. The institutionalisation of cooperation was confirmed by the meeting of the Joint Inter-governmental Commission in July 2025, which confirmed the priorities for the development of key economic sectors. The basis for consistent growth is the legal framework: agreements on long-term trade and economic cooperation, investment protection and the avoidance of double taxation create transparent conditions for business and encourage private sector participation. The effectiveness of this framework is reflected in the growth of trade turnover: from $209 million in 2016 to $1.148 billion in 2024. Turkmenistan supplies fuel, chemical products and lubricants, while imports from Uzbekistan in January-October 2025 grew by 23.7%, including finished products, services and machinery. The ‘Shavat-Dashoguz’ border trade zone speeds up deliveries, reduces transaction costs and turns the region into a business and logistics centre. In 2024, freight traffic reached 1.11 million tonnes, with transit growing by almost 40%. Industrial and transport cooperation is becoming an independent direction: 200 enterprises with Turkmen capital operate in Uzbekistan. Further prospects include the development of industrial clusters, logistics centres, agro-industrial projects and new investment mechanisms. The partnership is forming a sustainable regional model that strengthens economic security and the role of countries in trade and transit chains.
Ashgabat to showcase economic achievements on the 30th anniversary of neutrality
09.12.2025An exhibition of Turkmenistan's economic achievements will be held in Ashgabat from 11 to 12 December, timed to coincide with the 30th anniversary of the country's permanent Neutrality. This was reported by IIC Turkmenistan with reference to the newspaper ‘Neutral Turkmenistan’. The Chamber of Commerce and Industry will showcase the opportunities offered by national industries, which will contribute to the development of entrepreneurship and the expansion of international cooperation. Specialists from ministries and departments, members of the Union of Industrialists and Entrepreneurs of Turkmenistan, as well as foreign companies have been invited to participate.
Turkmenistan and the UAE discussed expanding ties in the oil and gas industry
05.12.2025Turkmenistan and the United Arab Emirates discussed prospects for deepening cooperation in the oil and gas sector. This was reported by the online publication ‘Business Turkmenistan’. The topic of expanding cooperation was central to the meeting between the State Minister of Turkmenistan, Chairman of the State Concern ‘Türkmengaz’ Maksat Babayev, and the Ambassador Extraordinary and Plenipotentiary of the UAE to Turkmenistan Ahmed Alhay Hamad Khamis Alhameli. Although diplomatic relations between the countries were established in 1995, practical energy partnership developed in the early 2000s. It was then that ‘Dragon Oil’ began operating in Turkmenistan under a production sharing agreement. In addition, the State Concern ‘Türkmennebit’ and ‘Dragon Oil (Turkmenistan) Ltd.’ extended the production sharing agreement, with the contract now valid until 1 May 2035.
Turkmenistan invites Korean businesses to participate in events in 2026
05.12.2025Turkmenistan has invited business circles of the Republic of Korea to join trade and investment events planned for 2026. This was announced by A. Nazarov, Deputy Chairman of the Chamber of Commerce and Industry of Turkmenistan, at the 6th Annual Meeting of the ‘Korea-Central Asia’ Business Council, which was held online, according to the ‘Business Turkmenistan’, citing the Embassy of Turkmenistan in the Republic of Korea. The Turkmen side noted the long-term nature of its partnership with South Korea. A. Nazarov highlighted the growth in economic cooperation and recalled joint projects, including the construction of the Gyyanly Petrochemical Complex and the modernisation of the Turkmenbashi Oil Refinery Complex. The meeting was organised by the Korea International Trade Association (KITA), the Chambers of Commerce and Industry of Central Asian countries and the Korea Foundation.
A new ‘Toyota’ dealership centre with a full range of services is being built in Ashgabat
03.12.2025Construction has begun in Ashgabat on a modern ‘Toyota’ dealership centre, which is being built in accordance with international requirements and the brand’s corporate standards. The project is being implemented by the company ‘Beýik Ýüpek Ýoly’ in conjunction with ‘Toyota Central Asia’ with the support of Japanese investment, according to the press service of the Embassy of Turkmenistan in Japan. The 2.79-hectare complex on G. Kuliyev Street will become a 3S centre, combining car sales, service and a warehouse for original spare parts. The two-storey building will house a showroom and a full-cycle service centre. The car dealership will implement a ‘New Retail Concept’ with the main element being a ‘Customer Hub,’ where visitors can get advice, study models, and use digital services. The service area will provide all types of work, from technical inspection and diagnostics to engine repair, bodywork, electronic system calibration and software updates. Simultaneous servicing of eight cars will increase speed and convenience for customers. The complex will include a body shop, a detailing area and a modern car wash. A test drive area will also be set up. The centre will offer the latest ‘Toyota’ models, including hybrids, and provide warranty and post-warranty service. Construction is scheduled for completion in December 2027.
The UAE plans to double trade turnover with Turkmenistan
02.12.2025The UAE plans to double its trade volume with Turkmenistan in the coming years, said Ahmed Alhay Hamad Khamis Alhameli, Ambassador Extraordinary and Plenipotentiary of the UAE to Turkmenistan, in an article for the newspaper ‘Neutral Turkmenistan’ on the occasion of the country’s Independence Day. This was reported by the news website Turkmenportal. The diplomat noted that in 2024, bilateral trade (excluding oil) reached $1.759 billion, an increase of 75% over 2023 levels. At the end of the first nine months of 2025, the UAE became Turkmenistan's third largest trading partner. The Ambassador noted the active development of cooperation, especially in the energy sector, including ADNOC's entry into the Turkmen market. He recalled the signing in May 2024 of a production sharing agreement for the development of gas fields in Caspian Block No. 1 with the participation of XRG, Petronas and Turkmen state structures, as well as the conclusion of a long-term gas supply contract.
Turkmen baby nutrition products are being prepared for export to Uzbekistan
01.12.2025The ‘Arkadag Medisina Klasteri Menejment’ company is preparing to export its products to Uzbekistan. This was reported by the online publication ‘Business Turkmenistan’. The manufacturer produces four types of baby cereals: rice, rice with banana, rice with honey, and a mixture of seven grains, which is recommended for evening consumption due to its easy digestibility. The company has also mastered the production of an adapted milk formula for children from birth to two years of age. The product does not contain synthetic dyes and is enriched with vitamins and minerals. The line includes four items: for children up to 6 months, 6–12 months, 12–18 months, and 18–24 months. The daily production volume is about two thousand packages of supplementary food for children over six months old. In addition to food, the company manufactures disposable medical products such as shoe covers, masks, caps, sheets and other types of products. The expansion of the production of goods from domestic raw materials contributes to the timely supply of medical institutions in the country. In September, ‘Arkadag Medisina Klasteri Menejment’ baby food was awarded the gold medal ‘Product of the Year’ and a diploma at the ‘World Food Moscow 2025’ International Exhibition.
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