Economy
Ashgabat will host an international exhibition on the development of various industries
18.07.2025From 3 to 5 November 2025, an international exhibition and conference entitled ‘Development of Construction, Industrial, Chemical and Energetical sectors of Turkmenistan’ will be held in Ashgabat, in the building of the Chamber of Commerce and Industry of Turkmenistan. This was reported by the press service of the Chamber of Commerce and Industry of Turkmenistan. The aim of the event is to attract foreign investment to strategic sectors of the country's economy and to expand regional and international cooperation. During the forum, leading Turkmen and foreign companies will present the latest technological solutions, equipment and developments in key industries. Participants will have a unique opportunity to showcase their achievements, establish business contacts and exchange experiences.
Turkmenistan will open new opportunities at the TIF investment forum
18.07.2025The Turkmenistan International Investment Forum and Exhibition (TIF) will be held on 18-19 September at the country's Chamber of Commerce and Industry. This was reported by the press service of the Chamber of Commerce and Industry of Turkmenistan. The forum will be a key platform for foreign investors, international financial organisations and companies interested in entering the Turkmen market to meet. Participants will discuss various investment opportunities, ways to accelerate the attraction of foreign direct investment, and prospects for the implementation of joint and regional projects. Special attention will be paid to developing export potential and strengthening cooperation between domestic and foreign entrepreneurs. One of the priority topics will be the digitalisation of the economy and the transition to digital technologies. The exhibition, held in parallel with the forum, will offer an interactive format for presenting the latest achievements in key sectors of Turkmenistan's economy, including industry, agriculture, energy, construction, transport and communications. Visitors will be able to learn about the work of leading national enterprises, innovative technologies and solutions being implemented in the country's economy. The International Investment Forum and Exhibition are designed to strengthen business ties and promote sustainable economic cooperation at the regional and global levels.
Turkmenistan and Korea strengthen partnership in transport infrastructure
18.07.2025The ‘Balkan’ Shipbuilding and Ship Repair Plant has launched a joint project with South Korean company Koryo Shipbuilding Industry Technology Co., Ltd., which will see the construction of two dry cargo ships with a carrying capacity of 6,100 tonnes, according to AsmanNews. The project aims to strengthen Turkmenistan's transport infrastructure and introduce modern foreign technologies into domestic shipbuilding. The work is being carried out using advanced engineering solutions and in compliance with international standards. Cooperation with the South Korean side contributes to the practical application of their technical experience and innovative developments.
Trade turnover between Turkmenistan and Azerbaijan exceeded $118 million in 2025
18.07.2025Trade between Turkmenistan and Azerbaijan reached $118.4 million in January–May 2025, according to the online news resource TerraNews. Of this amount, $19.2 million was exported from Azerbaijan, while imports of Turkmen goods amounted to $99.2 million. Overall, Azerbaijan's foreign trade turnover for the five months grew by 13.7% to $20.9 billion. Exports decreased by 1.2% to $11 billion, while imports increased by 36.5% to $9.9 billion. The trade surplus decreased almost fourfold to $1.03 billion. For comparison, in 2024, trade between the two countries was close to $400 million.
Mitsubishi Heavy Industries signs contract with ‘Türkmenhimiýa’ State Concern
18.07.2025Mitsubishi Heavy Industries Asia Pacific Pte. Ltd. (MHI-AP), a subsidiary of Mitsubishi Heavy Industries, Ltd., has signed a three-year contract with the State Concern ‘Türkmenhimiýa’ for the maintenance of the country's largest fertiliser plant, ‘Garabogazkarbamid’. This was reported by the news agency Orient. Under the agreement, MHI-AP will supply spare parts and consumables for key equipment, including gas turbine generators, compressors and pumps. The work will be carried out in cooperation with Mitsubishi Corporation. According to Takehiko Kikuchi, MHI's regional director for Asia-Pacific and India, the partnership with ‘Türkmenhimiýa’ contributes to the sustainable operation of the plants and is in line with the company's strategy of supporting projects at all stages, from construction to operation. The ‘Garabogazkarbamid’ plant in Garabogaz is the largest urea producer in Central Asia. It was built with the participation of Mitsubishi Corporation (Japan) and Gap İnşaat (Turkey), using technologies from companies in Denmark, Italy and the Netherlands.
Turkish Airlines strengthens cooperation with Turkmenistan
18.07.2025Sinan Dilek, Deputy Chairman of the Board of Turkish Airlines for Central and South Asia, emphasised the strategic importance of Turkmenistan for the airline. This was reported by the news agency Orient. As part of strengthening its position in the region, the company has divided its management of Asian and Far Eastern destinations since September 2024, increasing the number of flights to Ashgabat from 7 to 17 per week. Turkish Airlines is actively developing cooperation with Turkmen partners, including staff training at the company's academy in Istanbul, organising familiarisation and press tours, and supporting local travel agencies. A FAM tour to Cappadocia is planned for 2025. Most of the employees of the Ashgabat office are citizens of Turkmenistan. The company notes their contribution to the development of air transport and corporate culture. S. Dilek, who has been working for Turkish Airlines for more than 13 years, emphasised the importance of developing cultural and business ties and expressed his gratitude for the warm welcome in Turkmenistan.
Deals signed with Azerbaijani entrepreneurs in Turkmenistan
16.07.2025On 15 July, three trade deals worth a total of 33.18 million manats and 55,200 US dollars were signed on the foreign and domestic markets of Turkmenistan. This was reported by the press service of the SCRMET. On the foreign market, entrepreneurs from Azerbaijan bought terry products from Turkmen suppliers. On the domestic market, local entrepreneurs signed a contract with the State Concern ‘Türkmennebit’ for the purchase of polypropylene grade ‘TPP Z 30 G’. In addition, a deal was signed with the Ministry of Textile Industry for the purchase of waste substrate.
Turkmenistan and the Asian Infrastructure Investment Bank discussed prospects for cooperation
16.07.2025Today in Beijing, Turkmenistan's Ambassador Extraordinary and Plenipotentiary to China P. Durdyev met with Jin Liqun, President and Chairman of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB). This was reported by the Foreign Affairs Ministry of Turkmenistan. During the talks, the Head of the AIIB confirmed the bank's interest in expanding cooperation with Turkmenistan and announced plans to participate in the Third United Nations Conference on Landlocked Developing Countries (LLDC 3), which will be held in August 2025 in the ‘Avaza’ National Tourist Zone in Turkmenistan. The bank plans to organise its own exhibition pavilion at the event. The parties discussed promising areas of cooperation, including the implementation of infrastructure projects. The Turkmen delegation presented information on the country's current foreign policy priorities and international initiatives. At the end of the meeting, the Ambassador of Turkmenistan presented the President of the AIIB and the bank's library with a book of selected poems by Magtymguly Pyragy in Chinese, emphasising the importance of the cultural aspect in bilateral relations. The meeting took place in a constructive atmosphere, confirming mutual interest in developing the partnership.
Businessmen from Afghanistan purchased cement on the Turkmenistan Stock Exchange
15.07.2025An international trade deal was signed with Afghan businesspeople at the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the online news resource TerraNews. Afghan representatives purchased Portland cement of the brand ‘CEM I 42.5 H’ from Turkmen suppliers. The total amount of the deal was 215 thousand US dollars.
An exhibition of Turkmenistan's economic achievements will be held in Ashgabat
15.07.2025From 18 to 20 September 2025, the Commerce and Industry Chamber's exhibition centre in the capital will host an exhibition dedicated to the 34th anniversary of Turkmenistan's Independence. The exhibition will showcase the achievements of all key sectors of the national economy, which are developing under the leadership of President Serdar Berdimuhamedov. This was reported by the online publication ‘Business Turkmenistan’. Over the course of three days, ministries, departments and member companies of the Union of Industrialists and Entrepreneurs will showcase their successes in energy, industry, oil and gas, chemicals, textiles, construction, transport, agriculture, healthcare, education, tourism and the environment. The organisers emphasise that the exhibition will be an important platform for demonstrating the country's economic potential and strengthening business cooperation between participants. The event reflects the sustainable growth of the national economy and is in line with Turkmenistan's strategic development goals in the era of the revival of a powerful state. The exhibition is expected to be a significant event in the country's business life, contributing to the further prosperity and innovative development of all sectors of the economy.
Last week, 14 deals were concluded on the SCRMET
15.07.2025Last week, 14 deals were concluded on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the state news agency TDH. Entrepreneurs from Afghanistan and Uzbekistan purchased base oil, liquefied gas and sodium chloride for foreign currency. Representatives from Serbia, the UAE and Afghanistan purchased licorice, dyed fabric, men's shirts and Portland cement. The total amount of foreign currency transactions exceeded $1.47 million. On the domestic market, Turkmen businessmen purchased licorice extract, base oil, aerated concrete, soapstock fatty acids, and cotton. The total amount of transactions amounted to more than 5.8 million manats.
Turkmenistan's economy demonstrates consistent growth
13.07.2025Deputy Chairman of the Cabinet of Ministers Hojamyrat Geldimyradov presented a report on macroeconomic indicators for the first half of 2025 at an expanded meeting of the Cabinet of Ministers of Turkmenistan on 11 July. This was reported by the state news agency TDH. GDP grew by 6.3%, industry by 1%, construction by 5.1%, transport and communications by 10.8%, trade by 9.9%, agriculture by 4.5% and services by 8.6%. Retail trade increased by 12.7% and foreign trade by 2.9%. The average wage in large and medium-sized enterprises rose by 11.4%, and social payments were financed in a timely manner. Capital investment increased by 15.6%. A draft of the new edition of the ‘National Programme for Improving the Social and Living Conditions of the Population until 2028’ was also presented. Minister of Economy and Finance of Turkmenistan Mammetguly Astanagulov reported on the execution of the state budget: revenues amounted to 101.5%, expenditures — 97.6%. Local budget revenues amounted to 102.6%, expenditures — 98.5%. The volume of investments amounted to 17.7% of GDP. Chairman of the State Committee for Statistics Dovletgeldi Amanmuhammedov reported on the growth of industrial production. Gas production reached almost 38.9 billion cubic metres, oil production — 491,500 tonnes. The production of cement, reinforcement, food products and cotton products increased significantly. In agriculture, there was growth in the production of vegetables, fruits, potatoes, meat and milk. The private sector also demonstrated steady growth. Chairman of the Central Bank Toyly Malikov reported an increase in lending. The volume of loans issued by private sector banks increased by 19%, and by 26.9% for farmers. Mortgage lending increased by 20.2%. After hearing the reports, President of Turkmenistan Serdar Berdimuhamedov stressed the importance of continuing reforms, strengthening budget control and improving the effectiveness of investment and financial policy. The Head of State instructed to ensure the stability of the manat, develop the banking system and expand cooperation with international financial institutions. At the end of the meeting, Serdar Berdimuhamedov signed a Resolution ‘On the approval of the new edition of the National programme of the President of Turkmenistan for the transformation of social and living conditions of the population of villages, settlements, etrap cities and etrap centers for the period up to 2028’.
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