Economy
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.
The Central Bank of Turkmenistan introduces a new 200 manat banknote into circulation
01.12.2025The Central Bank of Turkmenistan will introduce new and updated polymer banknotes with denominations of 1, 5, 10 and 200 manats into circulation on 1 December. The decision is timed to coincide with the 30th anniversary of permanent neutrality and the year, which is being held under the motto ‘International Year of Peace and Trust,’ according to the state news agency TDH. According to the source, the polymer format makes the banknotes more resistant to wear and tear and reduces the risk of counterfeiting. Security features and visual signs of authenticity have been enhanced. The design of the 1, 5 and 10 manat banknotes has been largely retained. The emblem of the International Year of Peace and Trust has been added to them. The new 200 manat banknote features an image of the Arkadag Monument on the front and the building of the Arkadag City Council on the back. All banknotes bear the year of issue and the facsimile of the Chairman of the Board of the Central Bank. The new banknotes are legal tender throughout the country. Banknotes issued in 2009, 2012, 2014, 2017 and 2020 remain in circulation.
The Ministry of Health of Turkmenistan has concluded a deal with Serbian entrepreneurs
30.11.2025On 28 November, an exchange trade was held on the foreign market of Turkmenistan, during which Serbian entrepreneurs concluded a deal with the Ministry of Health and Medical Industry of Turkmenistan. This was reported by the press service of the SCRMET. The subject of the agreement was the purchase of dried, unpeeled liquorice roots and rhizomes. According to the results of the trading, one deal was concluded for a total amount of 337,500 manat.
Trade turnover between Turkmenistan and Uzbekistan amounted to $876 million
30.11.2025According to data from the State Statistics Committee of Uzbekistan, from January to October 2025, trade turnover between Uzbekistan and Turkmenistan exceeded $876.8 million. This was reported by the IIC of Turkmenistan. The bulk of this was accounted for by Turkmen imports, which amounted to $753.2 million. Uzbek exports to the neighbouring country during the same period reached $111.06 million. Overall, Uzbekistan's foreign trade turnover grew by 21.5% over ten months, reaching $66.5 billion. The opening of the ‘Shavat-Dashoguz’ joint border trade zone on 17 November provided an additional impetus to cooperation.
Trade between Turkmenistan and China reached $8.34 billion in January–October 2025
30.11.2025Trade turnover between Turkmenistan and China amounted to $8.34 billion in January–October 2025, according to AsmanNews. In October, mutual trade reached $708.5 million. Turkmen exports accounted for the bulk of this figure, totalling $7.06 billion over ten months. Imports from China amounted to $1.28 billion. Turkmenistan's key export is natural gas, which is supplied via pipelines.
Turkmenistan presented its sustainable construction strategy at ‘Big 5 Global 2025’
28.11.2025A delegation from Turkmenistan, led by Minister of Construction and Architecture Abdulla Geldiyev, took part in the ‘Big 5 Global 2025’ International Exhibition and Conference, which was held in Dubai from 24 to 27 November, at the invitation of UAE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei. This was reported by the press service of the Foreign Affairs Ministry of Turkmenistan. The delegation's participation confirmed the high level of cooperation between the countries and the importance of Turkmenistan as a partner in the field of construction and infrastructure. The forum presented national initiatives to introduce modern technologies and improve the efficiency of the industry. A. Geldiyev spoke at the plenary session on the strategy for sustainable urban development and infrastructure modernisation in Turkmenistan, emphasising the priorities of digitalisation, energy-efficient and innovative solutions. Bilateral meetings with representatives of the UAE and international companies were held as part of the programme, where cooperation in industrial and civil construction, the promotion of environmentally friendly materials, the development of digital infrastructure and BIM platforms, as well as investment projects were discussed. Particular attention was paid to trade and industrial ties, including the supply of Turkmen glass and modern building materials to the markets of the UAE and the Persian Gulf countries. The Turkmen side emphasised the tasks of modernising industries, introducing digital control systems, developing infrastructure and social facilities, and expanding the export potential of the glass industry.
Turkmenistan presents its potential at ‘Halal Expo 2025’ in Istanbul
28.11.2025On 26 November, the ‘Halal Expo 2025’ International Exhibition and the 11th World Halal Summit 2025 commenced in Istanbul. Turkmenistan is represented by a national pavilion organised by the Chamber of Commerce and Industry and the Union of Industrialists and Entrepreneurs, according to the online news resource TerraNews. The Turkmen delegation includes business representatives who will hold a series of B2B meetings and other business events over four days. The main objectives are to expand partnerships, discuss joint projects and promote national products to foreign markets. Participation in ‘Halal Expo 2025’ provides an opportunity to study trends in the global halal industry, hold negotiations with manufacturers and investors, and assess the prospects for the development of national business.
Turkmenistan and Qatar step up economic integration
28.11.2025A delegation from Turkmenistan, led by Mergen Gurdov, Head of the Chamber of Commerce and Industry, held a meeting in Doha with the leadership of the Qatar Chamber of Commerce and Industry. This was reported by the Orient news agency. The parties discussed the development of trade and economic relations and the intensification of cooperation between the private sectors. The Turkmen side confirmed its intention to strengthen business ties with Qatar, based on the friendly relations between the two countries. The main topic of the negotiations was the acceleration of the implementation of the agreement on the establishment of a Turkmen-Qatari Business Council, designed to promote interaction between the business communities of both countries. Qatari representatives expressed interest in Turkmenistan's investment potential and supported the initiative to develop partnerships between businesses. Members of the Qatari Chamber noted that joint councils help overcome obstacles in the private sector and strengthen economic integration. M. Gurdov invited Qatari businessmen to visit Turkmenistan to familiarise themselves with investment opportunities on the ground.
Read also
Advertising
Read us in Zen
