Economy
Turkmenistan and the EBRD discussed transport and economic projects
30.07.2026On 28 July, the President of Turkmenistan, Serdar Berdimuhamedov, held a meeting with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, who had arrived in the country on a working visit. During the negotiations, the Head of State emphasised that Turkmenistan’s advantageous geographical location facilitates the development of modern transport infrastructure and international multimodal corridors along the ‘North–South’ and ‘East–West’ routes, according to the news agency ‘Turkmenistan: Golden age’. Furthermore, the President of Turkmenistan noted that Turkmenistan attaches great importance to cooperation with the EBRD in the trade, economic, financial and banking sectors. Energy, transport, the digital economy and environmental protection were identified as priority areas for further partnership. The President of Turkmenistan also reaffirmed the country’s readiness to expand practical cooperation with the EBRD in the implementation of major infrastructure projects.
Investors from around the world will gather at TIF 2026 in Ashgabat
30.07.2026The Turkmenistan Investment Forum (TIF 2026) will take place from 1 to 2 October at the ‘Ýyldyz’ Hotel in Ashgabat. The event will serve as an international platform for discussing investment projects, with the participation of representatives from government bodies, international financial institutions and the business community, according to the news agency ‘Turkmenistan: Golden age’. The forum is organised by the Ministry of Finance and Economy of Turkmenistan and the country’s Ministry of Foreign Affairs, with the support of Turkmen Congress. Confirmed participants include the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and UK Export Finance. The forum’s programme will cover issues relating to energy and petrochemicals, transport corridors, the digital economy and virtual assets, green projects, the agro-industrial sector, tourism and urban infrastructure, as well as water resource management. A separate session will be devoted to the application of artificial intelligence in the economy. Participants will be able to hold meetings with representatives of government bodies, take part in a seminar on the legal and financial aspects of project implementation, and establish business contacts with international financial institutions. Registration for the forum will open shortly on the event’s official website.
The oil workers at ‘Goturdepenebit’ have exceeded their targets
30.07.2026The ‘Türkmennebit’ State Concern has been recording growth in production figures since the start of the year. The staff of the ‘Goturdepenebit’ oil and gas production department have made a significant contribution to this success, according to the online newspaper ‘Nebit-Gaz’. Due to modernisation and the introduction of state-of-the-art equipment, the division has produced 610,234 tonnes of crude oil since the start of the year, achieving a rise in production rates of more than 105 per cent. Production targets were exceeded by 61,000 tonnes of crude oil. The company’s staff continue to increase production volumes, demonstrating excellent work performance.
The Turkmen company ‘Täç Hil’ is considering entering the Georgian market
29.07.2026The Turkmen private company ‘Täç hil’ is considering entering the Georgian market with chemical products. This was reported by the online publication ‘Business Turkmenistan’, citing the newspaper ‘Rysgal’. The company’s products are currently exported to Uzbekistan, Kyrgyzstan, Kazakhstan, Azerbaijan, the Russian Federation, Belarus and Afghanistan. Prospects for cooperation with Georgian partners were discussed during the Turkmen-Georgian business conference and a travelling exhibition of Turkmen products, held at the Expo Georgia exhibition centre. At the event, ‘Täç hil’s products were presented to representatives of the foreign market. The company manufactures various types of household chemicals, including liquid soap, cleaning products and other goods. Modern technologies are used in production, taking into account the requirements of international markets. ‘Täç hil’ recently launched its Liora cream-based liquid soap. The 1-litre product is available in five fragrances: Pearl Glow, Milky Honey, Sweet Berries, Fresh Aloe and Ocean Breeze.
Uzbekistan is ready to expand its trade and investment partnership with Turkmenistan
28.07.2026At the Turkmen-Uzbek Business Forum in Ashgabat, Ravshanbek Alimov, Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to Turkmenistan, expressed the Uzbek side’s readiness to expand partnership in the trade, economic and investment spheres. This was reported by the IIC of Turkmenistan. The diplomat highlighted the development of bilateral relations within the framework of the strategic partnership. More than 20 leading companies from Turkmenistan and Uzbekistan are taking part in the forum. Industrial cooperation, including the production of construction and finishing materials, has been identified as one of the priority areas for collaboration. Participants at the event are exploring the possibility of concluding new contracts in the fields of steel structures, paints and varnishes, sandwich panels, plastic and rubber products, as well as ferrous metallurgy products.
The State Stock Exchange of Turkmenistan has registered nine transactions totalling over 2.7 million dollars
27.07.2026Following the trading session held at the State Commodity and Raw Materials Exchange of Turkmenistan last week, nine deals were concluded totalling more than 2.7 million US dollars. This was reported by the IIC of Turkmenistan. The buyers of the products, who paid in foreign currency, were entrepreneurs from Turkey, Uzbekistan and Azerbaijan. They purchased cotton yarn, raw silk and cotton oil soapstock. On the domestic market, Turkmen entrepreneurs concluded deals to purchase cotton yarn and cotton fibre worth 78 million 93 thousand manats. It is noted that the results of the exchange trading indicate that business activity remains stable both in the foreign trade sector and on the country’s domestic market.
Turkmenistan is preparing for consultations on the ‘Stable Energy’ forum
27.07.2026Issues relating to national development and foreign policy took centre stage at a government meeting via digital communications, chaired by the President of Turkmenistan, Serdar Berdimuhamedov, on 24 July. This was reported by the news agency ‘Turkmenistan: Golden age’. During the meeting, the Deputy Chairman of the Cabinet of Ministers and Foreign Affairs Minister, R. Meredov, reported on the country’s strategic priorities for the upcoming 81st session of the UN General Assembly. In particular, to put the resolution on sustainable energy infrastructure into practice, Turkmenistan will begin consultations on organising a high-level summit entitled ‘Stable Energy for All’.
Turkmenistan and Libya discussed the development of trade and economic cooperation
27.07.2026On 24 July, Mergen Gurdov, Chairman of the Chamber of Commerce and Industry of Turkmenistan, met with Mahmoud A. Hassan, Chargé d’Affaires ad interim at the Embassy of Libya in Turkmenistan. This was reported by the press office of the Chamber of Commerce and Industry of Turkmenistan. During the meeting, the parties discussed the further development of friendly relations between Turkmenistan and Libya, the intensification of trade and economic cooperation, and the expansion of business ties. The parties exchanged views on trade, investment, entrepreneurial activity and other priority areas of mutually beneficial cooperation. Particular attention was paid to strengthening contacts between the business communities of the two countries and making effective use of new opportunities for cooperation. At the conclusion of the meeting, the parties reaffirmed their readiness to consistently develop cooperation in areas of mutual interest, to implement joint initiatives in the future and to strengthen trade and economic relations.
Turkmenistan is expanding the capabilities of its geological exploration sector
26.07.2026On 24 July, at a meeting of the Cabinet of Ministers of Turkmenistan, Deputy Chairman of the Cabinet of Ministers G. Agajanov presented a report on the activities of the State Corporation ‘Türkmengeologiýa’. This was reported by the news agency TDH. It was noted that work is continuing in the country on the rational use of mineral resources, including geological exploration for rare minerals, drawing on international experience. Cooperation with leading foreign companies in the field of underground resource exploration is also being developed. The Deputy Prime Minister submitted a proposal on the development of international cooperation in this field to President Serdar Berdimuhamedov for consideration. The Head of State approved the initiative and instructed that the necessary steps be taken to implement it.
Turkmenistan and Azerbaijan have launched the exchange of customs data via eTIR
26.07.2026The State Customs Service of Turkmenistan and the State Customs Committee of the Republic of Azerbaijan have established an exchange of data on road transit through the Caspian Sea using the eTIR digital system. This was reported by the press office of the State Customs Service of Turkmenistan. With organisational support from the International Road Transport Union (IRU), the parties successfully carried out a test exchange of information on consignments travelling from Azerbaijan via Turkmenistan to Uzbekistan, as well as from Turkmenistan via Azerbaijan to the Republic of Turkey. The project has become one of the first examples of direct data exchange on transit road transport between the customs authorities of the two countries, which are situated on the ‘Europe–Central Asia’ international transport corridor. The eTIR system enables the real-time exchange of customs information, reduces paperwork, speeds up customs clearance, cuts costs and simplifies trade operations, thereby enhancing the attractiveness of transit routes. The implementation of eTIR was carried out as part of the project ‘Developing Regional Connectivity through Digitalisation of Customs Operations and Creating “Smart” Customs’.
Turkmen businesses are expanding their involvement in key sectors of the economy
25.07.2026Measures are being implemented in Turkmenistan to diversify the economy, develop high value-added production, promote digitalisation and support national businesses. This is reported by the online news site AsmanNews. The development of private enterprise remains one of the priorities of state policy. Preferential lending, tax incentives and a business-friendly policy are helping to expand the private sector’s participation in various sectors of the economy. Private enterprises are actively developing in the agro-industrial sector, the food industry, the production of building materials, logistics and the transport sector. Their activities help to create new jobs, increase household incomes and strengthen market mechanisms. Products labelled ‘Made in Turkmenistan’ are strengthening their position in both domestic and foreign markets. The competitiveness of domestic goods is ensured by the introduction of modern technologies, improvements in production quality and compliance with international standards. The main export sectors for the private sector are textiles, foodstuffs and building materials. At the same time, import substitution is developing: local producers supply the domestic market with meat, dairy and fruit and vegetable products, poultry products, as well as building materials, paints and varnishes, plastic products and pipes. One example of public-private partnership has been the development of production of motor and industrial oils, as well as products resulting from the deep processing of hydrocarbon raw materials. In accordance with the Constitution of Turkmenistan, the country’s economy is developed on the basis of market principles, whilst the state provides support for small and medium-sized enterprises. Systematic measures to promote business development, innovation and digitalisation are helping to strengthen the country’s economic potential and expand its export opportunities.
A company in the Ahal velayat has doubled its paper production and is expanding its exports
25.07.2026A company in the Gokdepe etrap of the Ahal velayat has increased its paper production and is expanding its exports. Ahead of the new academic year, a large consignment of products is being sent to Uzbekistan for the production of school textbooks, exercise books and art books. This was reported by the IIC of Turkmenistan. By the start of the academic year, the factory had doubled its output: monthly production rose from 600 to 1,200 tonnes. In August, 135 tonnes of offset paper will be delivered to Uzbekistan. Shipments are also being prepared for Tajikistan (68 tonnes) and Iran (275 tonnes), as well as the first consignment to Kazakhstan comprising 48,000 sheets of A4 paper. The plant, which commenced operations in June 2025, produces A4 and A3 office paper, as well as offset paper of various grammages. The plant’s design capacity is 14,400 tonnes of product per year. Exports currently cover six countries: Uzbekistan, Tajikistan, Iran, Azerbaijan, Pakistan and Armenia. Plans are in place to enter the markets of Kyrgyzstan and Georgia. The production process utilises pulp sourced from overseas suppliers in Portugal, Brazil, Austria, Spain and Turkey, which meets international quality standards. The company has strengthened its control over production processes – from raw material inspection to the assessment of finished products. Optimisation of equipment operation has enabled an increase in output without compromising quality. Deliveries are made by road and rail. Delivery of products to Uzbekistan, including customs clearance, takes around a week. The company plans to further expand its production capacity and develop new export markets.
Read also
Advertising
Read us in Zen
