Economy
The tanker “Dostluk” arrived at the Turkmenbashi International Seaport
28.06.2026The oil tanker “Dostluk” (“Friendship”), donated by Azerbaijan to Turkmenistan, has arrived at the Turkmenbashi International Seaport. A ceremonial welcome and concert were held in honor of the vessel and its crew, according to the IIC. Port officials, representatives of government authorities, elders, and young people gathered to greet the tanker. Turkmen cultural groups and dance ensembles performed for the guests. The ship’s crew was also welcomed with traditional refreshments. The tanker was handed over to the Turkmen side during the recent state visit of the President of Turkmenistan, Serdar Berdimuhamedov, to Baku. The vessel was built at the Baku Shipyard to expand Turkmenistan’s commercial fleet. It is 141 meters long, 17 meters wide, with a deadweight of nearly 8,000 tons. The tanker meets modern environmental standards and maritime safety requirements and is intended for transporting crude oil and petroleum products across the Caspian Sea and beyond. The vessel’s name symbolizes friendship between nations and is linked to the joint development by Turkmenistan and Azerbaijan of a hydrocarbon field of the same name. The tanker is expected to begin its first commercial voyages in the coming days, contributing to the development of regional transport and transit corridors.
Turkmenistan and the WCO Expand Cooperation in Customs Digitalization
28.06.2026A bilateral meeting was held in Brussels between Maksat Khudaýkulyyev, Chairman of the State Customs Service of Turkmenistan, and Ian Saunders, Secretary General of the World Customs Organization (WCO). Sapar Palvanov, Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Belgium, also participated in the talks, according to the Orient News Agency. The parties noted that cooperation between Turkmenistan and the World Customs Organization has reached a new qualitative level over the past year. The Turkmen side expressed its gratitude to the WCO for its support in organizing an international conference in Ashgabat dedicated to the activities of customs training centers. Particular attention during the meeting was paid to the digitalization of customs procedures and the training of customs personnel through the WCO Regional Training Centre in Turkmenistan. The parties positively assessed the results of joint educational programs implemented during 2025–2026. Within these programs, Turkmen customs officers received training in risk management, data analysis, release time measurement, and the digital transformation of customs processes. The discussions also focused on further strengthening human resource capacity. The Turkmen side confirmed its readiness to send representatives to participate in the WCO Career Development Programme for 2026–2027, including short-term internships. Ian Saunders highly praised the ongoing reforms in Turkmenistan's customs system and recalled his previous visit to the country, including a tour of the Turkmenbashi International Seaport, which he described as an important transport hub for the region. The WCO leadership reaffirmed its commitment to supporting the educational center in Ashgabat and promoting its best practices throughout the region.
Turkmenistan and Kazakhstan Expand Trade and Economic Cooperation
26.06.2026On June 24, Astana hosted a meeting of the Intergovernmental Commission on Economic, Scientific-Technical, and Cultural Cooperation between Turkmenistan and Kazakhstan, according to the press service of the Ministry of Foreign Affairs of Turkmenistan. The meeting brought together representatives of government agencies and the business communities of both countries. The Turkmen delegation was headed by Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Atagulyev, while the Kazakh delegation was led by Deputy Prime Minister and Head of the Government Office of the Republic of Kazakhstan Galymzhan Koishybayev. The parties discussed the development of cooperation in trade, investment, transport, energy, agriculture, science, and the humanitarian sector. Participants noted steady growth in bilateral trade turnover and an increase in mutual supplies of goods. A business forum was also held as part of the event, bringing together dozens of companies from Turkmenistan and more than one hundred representatives of Kazakh businesses. The discussions also covered prospects for cooperation in mechanical engineering, metallurgy, pharmaceuticals, construction, and the agricultural sector. Following the meeting, the parties signed a number of agreements and memorandums covering trade policy, e-commerce, and investment and construction cooperation. The sides reaffirmed their commitment to strengthening their economic partnership, expanding industrial cooperation, and developing digital formats of collaboration.
Turkmenistan and Georgia discuss development of financial and economic partnership
25.06.2026On June 24, 2026, a meeting took place in Tbilisi between the Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Georgia, D. Seyitmammedov, and the Minister of Finance of Georgia, L. Khutsishvili. This was reported by the IIC. The parties discussed the current state and prospects for the development of bilateral cooperation in the financial and economic sphere. Special attention was paid to expanding investment cooperation, developing the banking sector, and improving the tax system. The sides also considered issues related to increasing the efficiency of financial mechanisms and implementing joint initiatives aimed at sustainable economic growth. Following the meeting, both sides emphasized the importance of strengthening trust between the financial institutions of the two countries and confirmed their readiness to continue regular contacts and coordinate efforts to develop economic cooperation.
Ashgabat and Baku Discuss Development of Transport Corridors
25.06.2026Transport and transit cooperation became one of the key topics of talks between President of Turkmenistan Serdar Berdimuhamedov and President of Azerbaijan Ilham Aliyev in Baku. The two sides noted the importance of the favorable geographical position of both countries for the development of international logistics corridors between Asia and Europe, according to the news agency “Turkmenistan: Golden Age”. During the meeting, President of Turkmenistan Serdar Berdimuhamedov highlighted the effectiveness of the Afghanistan – Turkmenistan – Azerbaijan – Georgia – Türkiye route. The initiative to establish a Caspian Sea – Black Sea transport corridor involving Turkmenistan, Azerbaijan, Georgia, and Romania was also supported. According to the Turkmen leader, the implementation of the project would create additional opportunities for trade, economic, and investment cooperation. To promote joint initiatives, it was proposed to intensify the work of the Turkmen-Azerbaijani Commission on Transport, Transit, and Logistics.
Turkmenistan Confirms Readiness to Supply Electricity to Azerbaijan
24.06.2026During a state visit to Baku, President of Turkmenistan Serdar Berdimuhamedov announced the country's readiness to supply electricity to Azerbaijan. In particular, the initiative involves utilizing the capacity of a 1,574-megawatt power plant currently under construction on the Caspian Sea coast, according to the TDH news agency. During talks with President of the Republic of Azerbaijan Ilham Aliyev, the parties discussed the development of the Turkmenistan–Azerbaijan–Georgia–Romania transport corridor, which will connect the Caspian and Black Seas. According to Serdar Berdimuhamedov, the project will create additional opportunities for expanding trade and investment cooperation. Promising areas of cooperation also include the oil and gas, chemical, and textile industries, as well as the transport and transit sector. The Turkmen side proposed intensifying the work of the Turkmen-Azerbaijani Commission on Transport and Logistics and the Intergovernmental Commission on Economic Cooperation. In addition, the President of Turkmenistan put forward an initiative to hold a meeting of the heads of the Caspian littoral states in October 2026 in the Avaza National Tourist Zone. The parties also paid special attention to cultural and humanitarian cooperation, including the organization of Culture Days in both countries and the construction of a mosque in the city of Fuzuli. The state visit of President Serdar Berdimuhamedov to Azerbaijan is ongoing.
The Minister of Finance of Turkmenistan held a meeting with representatives of the World Bank
23.06.2026Minister of Finance and Economy of Turkmenistan, Mammetguly Astangulov, held talks with World Bank representatives Andrey Mikhnev and Indira John-Abraham, according to the IIC. The parties discussed the implementation of a cooperation roadmap, including digital transformation, the development of a “green” economy and the transport sector, as well as Turkmenistan’s participation in regional initiatives such as REMIT and the “One Health” program. Special attention was given to the integration of the country’s macroeconomic indicators into World Bank analytical materials, improving environmental sustainability, reducing methane emissions in the oil and gas sector, and modernizing water resource management. The parties also agreed to intensify efforts to improve the investment climate and strengthen the country’s position in the “Business Ready” ranking.
Digital transformation of statistics: a new project of Turkmenistan and the World Bank
23.06.2026The State Committee of Turkmenistan on Statistics and the World Bank have signed a consulting cooperation agreement for 2026–2027 aimed at modernizing the national statistical system and introducing digital solutions. This was reported by the IIC. The project also envisages aligning macroeconomic indicators with the international 2025 System of National Accounts (SNA-2025) standard. Within the framework of the cooperation, updates are planned for methodologies used to calculate GDP, price indices, and purchasing power parity. Special attention will be given to the digitalization of data collection through a transition to the CAPI system and the use of the Survey Solutions platform. The implementation of the program is expected to improve the accuracy and transparency of statistics, as well as ensure its integration into international reporting. Training of specialists and pilot studies are also planned.
27 deals concluded on the Turkmenistan Commodity Exchange over the week
23.06.2026A total of 27 transactions were registered on the trading floor of the State Commodity and Raw Materials Exchange of Turkmenistan over the past week, according to the news agency TDH. For foreign currency, entrepreneurs from the United Arab Emirates, Turkey, Afghanistan, and Uzbekistan purchased liquefied gas, hydrotreated diesel fuel produced by the State Concern “Türkmennebit,” as well as liquefied gas, desulfurized diesel fraction from the State Concern “Türkmenhimiýa,” and motor oil. In addition, denim and knitwear products, plain-dyed and jacquard terry textiles, wheat flour, cotton fiber, and cotton yarn were sold for export. Buyers included companies from Turkey and Ukraine. The total value of foreign trade transactions exceeded 62 million 520 thousand US dollars. On the domestic market, Turkmen entrepreneurs purchased cottonseed oil, cotton yarn, and cotton fiber for more than 56.454 million manats.
Turkmenistan and the Republic of Korea Expand Business Partnership
23.06.2026The Ambassador Extraordinary and Plenipotentiary of Turkmenistan to the Republic of Korea, Begench Durdyev, held a meeting in Seoul with Lee Sang-jun, Vice President of the Korea International Trade Association (KITA). The main focus of the talks was the preparation of joint economic events within the framework of the first Central Asia–Republic of Korea Summit, which will take place in September, according to the IIC. During the meeting, the ambassador emphasized that Turkmenistan attaches great importance to the development of trade and economic cooperation with the Republic of Korea. According to him, KITA’s participation will contribute to the effective preparation of upcoming business forums and meetings. Lee Sang-jun confirmed the South Korean business community’s interest in expanding cooperation with the countries of Central Asia. He noted that the Republic of Korea views Turkmenistan as a strategic partner with significant economic and resource potential. The parties also discussed promising areas of cooperation, including energy, the petrochemical industry, modernization of transport infrastructure, urban development, and the advancement of smart city technologies. It was noted that the technological capabilities of the Republic of Korea and the economic potential of Turkmenistan create favorable conditions for the implementation of joint projects. Following the meeting, the parties agreed to continue coordination in preparation for the events related to the first Central Asia–Republic of Korea Summit.
The Vice Premier of Turkmenistan will chair the CIS Economic Council meeting in Moscow
22.06.2026On June 26, a meeting of the CIS Economic Council will take place in Moscow with the participation of deputy prime ministers from the Commonwealth of Independent States countries. The meeting will be chaired by the Vice Premier of Turkmenistan, Hojamyrat Geldimyradov, according to the Orient news agency. Participants will discuss issues of trade, economic and investment cooperation, preparations for the 2030 round of population censuses, as well as the results of economic development in CIS countries in 2025 and the implementation of the first phase of the Economic Development Strategy through 2030. The agenda also includes improving electronic exchange of tax information, digitalization, regulation of labor relations, coordination of veterinary and quarantine measures, and the development of forestry.
The Vice Premier of Turkmenistan will chair the CIS Economic Council meeting in Moscow
22.06.2026On June 26, a meeting of the CIS Economic Council will take place in Moscow with the participation of deputy prime ministers from the Commonwealth of Independent States countries. The meeting will be chaired by the Vice Premier of Turkmenistan, Hojamyrat Geldimyradov, according to the Orient news agency. Participants will discuss issues of trade, economic and investment cooperation, preparations for the 2030 round of population censuses, as well as the results of economic development in CIS countries in 2025 and the implementation of the first phase of the Economic Development Strategy through 2030. The agenda also includes improving electronic exchange of tax information, digitalization, regulation of labor relations, coordination of veterinary and quarantine measures, and the development of forestry.
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