Economy
Turkmen authorities discuss WTO accession with ADB
02.08.2025The Ministry of Finance and Economy of Turkmenistan held consultations with an expert from the Asian Development Bank as part of preparations for accession to the WTO. The meeting was an important step in shaping the country's foreign economic policy, according to the news agency Orient. Zhanar Aitzhan, Senior Policy Advisor on International Trade and Investment at the ADB, presented recommendations on all stages of the negotiation process, emphasising the need for interdepartmental coordination and the use of international experience, including that of Kazakhstan. The event was attended by representatives of key agencies, including the Mejlis, the Central Bank and the Customs Service of Turkmenistan. During the meeting, the possibility of expanding technical support from the ADB was discussed, in particular, the conduct of training for specialists. The ministry expressed its gratitude to the bank and confirmed its readiness for further cooperation. The consultations will form the basis for the development of a roadmap for Turkmenistan's accession to the WTO.
Businessmen from Uzbekistan and Hong Kong have signed deals with Turkmenistan
01.08.2025On 31 July, two deals worth a total of US$1.591 million were signed on the foreign market of the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the press service of the SCRMET. Entrepreneurs from Uzbekistan signed a contract with the State Concern ‘Türkmenhimiýa’ for the purchase of liquefied gas. In addition, businessmen from Hong Kong concluded a deal with Turkmen entrepreneurs for the purchase of cotton lint. Both deals are the result of continued interest from foreign partners in Turkmen export products.
A regional seminar on maritime port security was held in Turkmenistan
01.08.2025On 28-29 July 2025, a regional training seminar was held in Turkmenbashi, organised by the State Customs Service of Turkmenistan in cooperation with the United Nations Office on Drugs and Crime. The event brought together representatives of customs services and experts from six countries in the region, including Azerbaijan, Kazakhstan and Pakistan. This was reported by the online publication ‘Turkmenistan: Golden Age’. During the seminar, participants discussed modern approaches to ensuring maritime transport security and managing potential risks. Particular attention was paid to issues of inter-agency and international cooperation in this area. The delegates highly appreciated the infrastructure capabilities of the Turkmenbashi International Sea Port and the level of customs control in Turkmenistan. The holding of such a seminar underscores Turkmenistan's growing role as an important transport and logistics hub in the region and its commitment to international maritime safety standards. The event was an important step in strengthening regional cooperation and exchanging best practices in the field of maritime security.
Turkmenistan is mastering the industrial cultivation of Rosenberg shrimp
01.08.2025The ‘Elin Balyk’ fishery is completing a seven-month cycle of farming the first batch of Rosenberg king prawns. This ambitious project, which began with the import of tiny larvae from Thailand, is now showing impressive results - about one million individuals, each reaching 30 cm in length. This is reported by the online publication ‘Turkmenistan: Golden age’. In addition to shrimp, the farm successfully breeds tilapia, African catfish and sturgeon using modern aquaculture methods. Particular attention is paid to the quality of water from the Karakum River, which undergoes multi-stage treatment, and specially developed feed enriched with vitamins and minerals. The company's immediate plans are not only to saturate the domestic market, but also to enter the international market. The first batch of farmed shrimp will soon go on sale, which will be an important event for gourmets and restaurateurs in Turkmenistan. At the same time, work is continuing on the development of technology for farming Vannamei shrimp in the waters of the Caspian Sea. This project marks a new stage in the development of Turkmenistan's food industry, demonstrating the country's potential in the field of modern aquaculture and import substitution of delicatessen products.
EBRD highlights high export potential of Turkmen companies
31.07.2025Private business in Turkmenistan has advantages due to cheap energy resources and an affordable workforce. This was stated by Eric Livny, Head of the European Bank for Reconstruction and Development (EBRD) in Turkmenistan, in an interview with Trend agency, according to the news website Asmannews. According to him, state support provides entrepreneurs with preferential access to electricity, water and land, which contributes to the development of import substitution and export-oriented industries. The plastic packaging, construction materials and greenhouse products industries are developing particularly actively. Successful projects include ‘Tudana’, which supplies strawberries to the Uzbek chain ‘Korzinka’, and ‘Miwe’, an agricultural company that grows bananas in a 100-hectare greenhouse. The EBRD intends to expand its cooperation with Turkmen banks, including support for foreign economic operations and lending to small and medium-sized businesses.
Afghanistan and Uzbekistan conclude foreign trade deals on Turkmenistan's stock exchange
31.07.2025On 30 July, during foreign trade auctions at the State Commodity and Raw Materials Exchange of Turkmenistan, two deals were made for a total of 172,420 US dollars. This was reported by the press service of the SCRMET. Entrepreneurs from Afghanistan purchased a batch of liquefied gas from the State Concern ‘Türkmenhimiýa’. At the same time, business representatives from Uzbekistan signed a contract for the purchase of gas concrete blocks from Turkmen private manufacturers. Both deals reflect the intensification of regional economic cooperation and growing interest in Turkmen products.
Railway route between Mashhad and Mary to start operating
30.07.2025Iran is preparing to launch three new international railway routes. The first will be a passenger service between the cities of Mashhad and Mary, according to IIC Turkmenistan. The route is expected to strengthen ties with Central Asia and may be extended to Uzbekistan and Tajikistan in the future. There are also plans to open a Tehran-Ankara route, which will be an extension of the Tehran-Van route. The parties are agreeing on fares, and the launch is expected within two months. The third route will be through Rozanak to Herat in Afghanistan. Construction of the last section is nearing completion, and traffic may begin once border formalities have been settled. The project is part of Iran's strategy to strengthen regional integration and develop transit potential.
‘Türkmennebit’ State Concern exceeded oil production plan due to well repairs
30.07.2025Since the beginning of 2025, divisions of the ‘Nebitgazdüýpliabatlaýyş’ trust of the ‘Türkmennebit’ State Concern have produced an additional 81,830 tonnes of oil due to the overhaul of wells at the Goturdepe, Barsagelmez and Gamyshlyja, according to the online newspaper ‘Nebit-gaz’. This result amounted to 141% of the plan for the first half of the year. The Gamyshlyja well overhaul department stands out in particular, exceeding the plan by more than 24,000 tonnes, repairing 32 wells, 24 of which have been put into operation. A total of 217 wells were overhauled during the period, compared to the target of 199. The work was carried out using the trust's motor transport and specialised management equipment. The restoration of low-yield and shut-in wells is an effective way to increase production. The Balkan velayat remains the country's main oil-producing region.
A meeting of creative entrepreneurs was held in Ashgabat as part of the Go Viral project
30.07.2025The ‘Arkach’ Business Centre hosted another meeting as part of the regional Go Viral project, which brings together young entrepreneurs, start-ups and creative professionals from Central Asian countries. The Go Night event provided Turkmen innovators with a platform to exchange ideas and seek unconventional solutions in the fields of technology, media and business. This was reported by the online publication ‘Turkmenistan: Golden age’. Participants discussed how traditional cultural elements can be transformed into modern business models with the help of digital technologies. Presentations on the relationship between ethnic heritage and innovative start-ups were of particular interest. After the official part, a lively discussion and networking session took place, where participants were able to establish business contacts and discuss potential collaborations. The Go Viral project continues to strengthen regional cooperation by offering young professionals in Central Asia opportunities for professional growth and the implementation of socially significant initiatives. The next community meeting is scheduled for August 2025.
Turkmenistan and Japan held a business forum in Osaka
29.07.2025On 25 July, the Turkmen-Japanese Business Forum was held at the National Pavilion of Turkmenistan at EXPO 2025 in Osaka, aimed at strengthening economic ties between the two countries. This was reported by the online publication ‘Business Turkmenistan’. Participants discussed cooperation in the fields of high technology, the digital economy, energy and transport. The parties exchanged initiatives to create conditions for Japanese companies to enter the Turkmen market and jointly implement innovations. The forum contributes to the development of economic ties in the Central Asian region.
Entrepreneurs from Turkmenistan have concluded a deal with Kyrgyz partners
29.07.2025On 28 July, Kyrgyz entrepreneurs in the foreign market concluded a deal with Turkmen business partners for the purchase of jeans. This was reported by the press service of the SCRMET. As a result of the tender, one deal was concluded for a total amount of 1.479 million US dollars.
Seydi Oil Refinery increases production rates
29.07.2025Employees at the Seydi Oil Refinery are demonstrating high production results: the volume of raw materials processed increased by 22% compared to the same period last year and amounted to almost 270,000 tonnes. This was reported by the news website Asmannews. The plant produces petroleum products in high demand, such as gasoline, diesel fuel, bitumen and others. More than 1,800 specialists contribute to the consistent operation of the plant. Great attention is paid to social issues: employees receive support for health, recreation and housing. A new residential building for plant workers is being built in the city of Seydi, which will house 24 families.
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