Economy
Turkmenistan will join the Asian Development Bank trade project
05.07.2025On July 4, during a government meeting, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Hojamyrat Geldimyradov reported on steps to develop cooperation with international and regional financial and economic structures and foreign countries. This was reported by the state news agency TDH. In particular, a proposal by the Asian Development Bank was presented on Turkmenistan's participation in the second phase of the Integrated Trade Agenda to 2030 of the Central Asia Regional Economic Cooperation (CAREC) Programme. The initiative includes the digitalisation of trade, environmental development and participation in trade policy and trade facilitation projects. The proposal was submitted for consideration to the President of Turkmenistan, Serdar Berdimuhamedov, who supported the country's participation in the project and instructed the Deputy Prime Minister to continue work in this direction.
Turkmenistan put forward initiatives at the ECO Summit on sustainable development
05.07.2025On 4 July 2025, the 17th summit of the Economic Cooperation Organisation was held in Khankendi under the slogan ‘New ECO Vision for a Sustainable and Climate-Resilient Future.’ The Turkmen delegation was headed by Foreign Affairs Minister Rashid Meredov, who in his speech stressed the importance of developing a new development strategy for the organisation until 2035. This was reported by the Foreign Affairs Ministry of Turkmenistan. The Head of the Turkmen Foreign Affairs Ministry emphasised the need to deepen cooperation in key areas, including the creation of effective transport corridors, diversification of energy supplies and the development of renewable energy sources. Particular attention was paid to the proposal to create a special mechanism for coordinating the energy policies of the ECO member countries to ensure the stability of energy supplies in the region. During the discussion on transport cooperation, Turkmenistan put forward an initiative to further integrate the transport and logistics systems of the organisation's member states. Proposals were also made to intensify business contacts through chambers of commerce and industry and to expand cultural and humanitarian cooperation. The summit participants unanimously noted that the implementation of these initiatives will contribute significantly to strengthening multilateral cooperation and will promote the sustainable development of the entire ECO region.
Representatives of Turkmenistan took part in the regional program on digital trade
05.07.2025The first face-to-face module of the regional Training Programme on Digital Trade and Multimodal Transport took place in Tashkent, with the participation of representatives of the State Customs Service of Turkmenistan together with colleagues from other Central Asian countries. The event was organised as part of the project ‘Trade Facilitation in Central Asia’ with the support of the German Society for International Cooperation (GIZ). This was reported by the online publication ‘Turkmenistan: Golden age’. Participants in the programme studied in detail modern digital tools aimed at harmonising multimodal transport in the region. A key element of the training was a multimodal transport reference data model, which allows all modes of transport to be integrated into a single system and significantly simplifies cross-border information exchange. The knowledge and skills gained will enable Turkmen specialists to make a practical contribution to the development of efficient logistics corridors in Central Asia, which is in line with the strategic objectives for the digital transformation of foreign trade operations in Turkmenistan.
Turkmenistan and Belarus strengthen direct contacts between business communities
04.07.2025Turkmenistan and Belarus maintain stable trade and economic ties, which have been actively developing in recent years due to the strengthening of contacts between business communities. This was stated by Belarusian Ambassador to Turkmenistan Stanislav Chepurnoy in an article on Belarusian Independence Day published in the newspaper ‘Neutral Turkmenistan’, according to the news website Turkmenportal. The Head of the diplomatic mission noted that the economies of the two countries are complementary, especially in the areas of agriculture, industry and transport. The dates for the next meeting of the Intergovernmental Commission on Economic Cooperation are currently being discussed. The Ambassador emphasised that the states have built a partnership based on respect and trust, supported by warm relations between the leaders. According to him, the parties still have significant potential for expanding cooperation, and Belarus is open to constructive dialogue.
Joint trade exhibitions of Turkmenistan and Turkey have started in Istanbul
03.07.2025Two significant international events opened in Istanbul – the ‘Turkmenistan-Turkey’ Trade Fair and the ‘F Istanbul’ food industry and technology exhibition. These events mark a new stage in strengthening economic ties between the two countries. This was reported by the IIC. The opening ceremony was attended by Turkish Minister of Trade Omer Bolat, who noted the symbolic nature of holding exhibitions in this format and the high level of activity of the Turkmen delegation. He emphasised that Turkmenistan had been granted the status of guest of honour at the ‘F Istanbul’ exhibition. Both events include B2B business meetings aimed at expanding partnerships between Turkish and Turkmenistan entrepreneurs. The Minister drew attention to the steady growth in trade between the countries. According to him, last year the volume of mutual trade exceeded $2.2 billion, which is 8.35% more than in the previous period. In the first six months of this year, growth already amounted to 26.5%. Omer Bolat expressed confidence that if this pace is maintained, bilateral trade will exceed $3 billion next year. The parties confirmed their intention to achieve the ambitious goal set by the leaders of the two countries – to increase annual trade to $5 billion. The Minister also noted the active participation of Turkish construction companies in the implementation of infrastructure projects in Turkmenistan. Of the 12,600 international contracts worth a total of $540 billion, 1,100 projects worth $54 billion were completed in Turkmenistan.
Russia plans to expand the participation of road carriers in trade with Turkmenistan
03.07.2025From 23 to 25 June, a working meeting was held in Ashgabat between representatives of the Ministry of Transport of the Russian Federation and the ‘Türkmenawtoulaglary’ agency under the Transport and Communications Agency of the Cabinet of Ministers of Turkmenistan. This was reported by the online publication ‘Business Turkmenistan’. Russia expressed interest in expanding bilateral freight traffic. In turn, Turkmenistan responded with its readiness to use Russian transport, provided that it is quickly made available for loading. The Turkmen side also noted the growth in transport volumes in 2024–2025 due to state support for the export of agricultural products and consumer goods, and provided information on the rules for transit through the country's territory. The parties discussed opportunities for cooperation between carriers and shippers, exchanged contacts and agreed to develop direct business ties.
Head of Daewoo E&C reviews new projects in Turkmenistan
03.07.2025The Chairman of the Board of Directors of the Korean company ‘Daewoo Engineering & Construction Co., Ltd’, Jung Won-ju, visited Turkmenistan from 26 to 30 June to discuss expanding business cooperation and strengthening the company's position in Central Asia, according to a statement by the company, as reported by the news website Asmannews. In Ashgabat, he held meetings with the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov and President of Turkmenistan Serdar Berdimuhamedov, confirming his commitment to completing the project to build a mineral fertiliser plant in Turkmenabat. The possible participation of ‘Daewoo Engineering & Construction Co., Ltd.’ in projects for the development of gas fields, petrochemicals, transport and construction was also discussed. The company stated that it considers Turkmenistan a strategically important market and intends to intensify localisation and expand its presence in the region.
Turkmenistan and China strengthen agricultural cooperation
02.07.2025On 1 July, talks were held at the ‘Archabil’ Hotel in Ashgabat between representatives of the Ministry of Agriculture of Turkmenistan and a delegation from the Xinjiang Uygur Autonomous Region of the People's Republic of China. The Chinese side was led by Deputy Chairman of the People's Government Wang Gang. During the meeting, the parties discussed prospects for expanding cooperation in agriculture, with particular emphasis on the exchange of modern technologies and best practices. This was reported by the IIC. The delegates discussed issues related to the supply of agricultural machinery, improving methods for storing raw cotton and modernising cleaning lines. During the visit, Chinese representatives also held working meetings with the leadership of the International Scientific-Technological Park of the Academy of Sciences of Turkmenistan and the ‘Turkmenpagta’ National Concern. Particular attention was paid to the development of joint projects in the context of the ‘Belt and Road Initiative’. The parties emphasised the strategic importance of Xinjiang as a key logistics hub for cooperation with Central Asian countries. Following the talks, an agreement was reached to hold regular consultations and intensify the exchange of experience in the fields of agriculture, scientific research and technological development. These steps will contribute to further strengthening the mutually beneficial partnership between Turkmenistan and China.
Turkmenistan participates in WTO seminar on sanitary measures
02.07.2025From 1 to 3 July 2025, Vienna will host a regional seminar of the World Trade Organisation on the Agreement on Sanitary and Phytosanitary Measures (SPS). The event is organised by the WTO Secretariat in cooperation with the Joint Vienna Institute as part of the technical assistance programme for 2024–2025. This was reported by IIC. The main objective of the seminar is to increase the involvement of countries in Central and Eastern Europe, Central Asia and the Caucasus in the work of the WTO, as well as to deepen understanding of the SPS Agreement. The discussions will cover issues of transparency of measures, the activities of the WTO Committee on SPS, as well as current initiatives of international organisations, including the International Plant Protection Convention (IPPC), the World Organisation for Animal Health (WOAH) and the Codex Alimentarius Commission. Turkmenistan is represented at the seminar by experts from the State Veterinary Service, the Ministry of Health, the Ministry of Finance and Economy, and the Main State Service ‘Turkmenstandartlary’. Arslan Soltanmyradov, Head of the International and Scientific Relations Department of the State Veterinary Service, delivered a welcoming speech at the opening ceremony. He emphasised Turkmenistan's commitment to fulfilling its international obligations in the field of SPS measures, the importance of cooperation with relevant organisations and the need to strengthen technical capacity to improve the national control system. Participation in the seminar allows the Turkmen delegation to discuss current aspects of the implementation of the SPS Agreement, exchange experiences with colleagues from other countries and explore opportunities for expanding international cooperation.
‘Dayhanbank’ leads in the number of bank cards in Turkmenistan
01.07.2025According to a report by the Central Bank of Turkmenistan, the State Commercial Bank ‘Dayhanbank’ remains the leader in terms of the number of payment cards issued, which exceeded 2.1 million. This was reported by the online publication Terra-News. Second place is occupied by the State Commercial Bank ‘Turkmenistan’ with more than 1.1 million cards issued, and the top three is rounded out by ‘Halkbank’ with over 824,500 cards. The geographical distribution of card issuance shows that ‘Dayhanbank’ is actively operating in the regions, especially in the Mary, Dashoguz and Lebap velayats. Meanwhile, ‘Turkmenistan’ Bank and ‘Halkbank’ mainly serve customers in the country's capital. The Central Bank's data reflects the dynamics of the development of non-cash payments and the expansion of banking services in various regions of Turkmenistan.
23 transactions were concluded on the Turkmenistan Stock Exchange
01.07.2025Last week, 23 deals were concluded on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the state news agency TDH. Foreign companies from the United States, the United Arab Emirates, Singapore, Afghanistan and Uzbekistan purchased aviation and lighting kerosene, gasoline, road bitumen, diesel fuel and cotton yarn worth more than $5 million. For the domestic market, Turkmen entrepreneurs purchased polypropylene, bitumen, packaging film, sheet glass and cotton fabric for a total of 29.833 million manats.
A large incubator complex has begun operations in Turkmenistan
29.06.2025The ‘Nurly meýdan’ farm in the Baherden etrap has achieved significant success in the development of Turkmenistan's agro-industrial complex. The new hatchery complex is capable of producing up to 12 million chicks annually, which significantly strengthens the country's potential in the field of poultry farming. This was reported by the IIC. The modern poultry complex, covering an area of 10 hectares, is designed to produce 8-16 million eggs per year, with a current daily output of 4,000 eggs. Products under the ‘Nurly meýdan’ brand are already being supplied to retail chains, providing the population with high-quality products. In addition, a feed mill with a capacity of 10 tonnes per hour operates on the site, producing hay and mixed feed for farm animals. This ensures that poultry and livestock are fully fed, reducing dependence on imports. The development of ‘Nurly meýdan’ contributes to food security, the introduction of modern technologies and the creation of new jobs, demonstrating the successful implementation of the state strategy in the agro-industrial sector.
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