Economy
The Balkan plant received international certificates
11.05.2026The Balkan Shipbuilding Yard was awarded international certificates at the commissioning ceremony of the dry cargo vessel “Gadamly.” This was reported by TDH. The certificates were presented by the president of the company “Koryo Shipbuilding Industry Technology,” Choi Young-wook. He noted the quality of engineering solutions and installation work during the vessel’s construction. Choi Young-wook congratulated those involved on the completion of the project and stated that the launch of the “Gadamly” reflects Turkmenistan’s development in the transport and logistics sector. It was emphasized that the construction of the vessel was the result of joint work. The Balkan shipyard, which is part of the structure of the Turkmenbashi International Seaport, has gained the capability to build modern cargo ships for international transport. A statement was also made by Samat Kamalov, manager of the French company “Bureau Veritas Marine and Offshore.” He presented the shipyard and the vessel with certificates of compliance with international standards, including environmental requirements. According to him, the project confirms the use of modern approaches and international experience in shipbuilding.
Turkmenistan presented its economic potential at an IMF platform in Washington
08.05.2026On May 7, the Embassy of Turkmenistan in the United States, in cooperation with the International Monetary Fund (IMF), held an event at the Fund’s headquarters in Washington titled “Economic Development of Turkmenistan in the Context of Regional and Global Economic Outlook.” The Turkmen-American Business Cooperation Association acted as a partner, according to the news website Turkmenportal. More than 80 representatives of diplomatic missions, international organizations, and the business community took part in the meeting, including the ambassadors of Turkmenistan and the United States, representatives of the IMF, the U.S. Department of Commerce, the State Department, and the World Bank. Participants discussed Turkmenistan’s economic prospects and the development of trade and investment cooperation between Ashgabat and Washington, as well as the expansion of contacts between the business communities of the two countries. The event also featured a cultural presentation and an introduction to Turkmen national cuisine.
The Turkmen-American Business Cooperation Association has been launched in Washington
08.05.2026On May 7, the Turkmen-American Business Cooperation Association was inaugurated in Washington, alongside its first business forum, according to the news website Turkmenportal. More than 50 companies from Turkmenistan and the United States participated in the event, operating in logistics, IT, e-commerce, education, consulting, and services. The majority of participants represented small and medium-sized businesses. The forum aimed to develop direct business contacts between entrepreneurs from the two countries. Participants presented their companies, discussed prospects for cooperation, and exchanged experience in doing business in Turkmenistan and the United States. Representatives of the Embassy of Turkmenistan emphasized the importance of launching TABCA as a new platform for expanding economic interaction between the countries, particularly in the small and medium-sized business segment. The event also included a networking session and an award ceremony honoring entrepreneurs who contributed to the development of bilateral business ties.
A series of transactions with foreign entrepreneurs were concluded on the Turkmenistan exchange
07.05.2026On May 6, export transactions involving foreign entrepreneurs were concluded on Turkmenistan’s external exchange market. This was reported by the press service of the State Commodity and Raw Material Exchange of Turkmenistan. Entrepreneurs from Georgia and the United Arab Emirates signed contracts with the State Concern “Turkmennebit” for the purchase of base oil of the “SN-180” grade. At the same time, business representatives from Switzerland concluded agreements with Turkmen entrepreneurs for the supply of cotton fiber. In total, five deals were executed during the trading session. The total value of the contracts amounted to 3.3 million US dollars. The transactions reflect continued interest from foreign companies in Turkmenistan’s key export goods, including petrochemical products and agricultural raw materials.
Entrepreneurs from Turkmenistan concluded deals with partners from Turkey and the UAE
06.05.2026On May 5, during exchange trading on the foreign market, new export agreements were concluded between foreign and Turkmen entrepreneurs. This was reported by the press service of the State Commodity and Raw Materials Exchange of Turkmenistan. Representatives of Turkey agreed to purchase first-grade wheat flour and textile products from Turkmen producers. Meanwhile, entrepreneurs from the UAE concluded deals with Turkmen businesspeople to purchase Portland cement. As a result of the trading session, four deals were signed for a total amount of 3 million US dollars.
“Aýdyň Gijeler” is launching a large-scale hot-dip galvanizing production facility
06.05.2026Turkmen company “Aýdyň Gijeler” is launching a large-scale hot-dip galvanizing project for metal. The facility is planned to be commissioned by the end of the year and could become one of the largest in the region, according to the online publication “Business Turkmenistan”. Initial investments amount to around $5 million, with a production capacity of over 2,000 tons of metal per month. The products are expected to be in demand in the oil and gas sector, industry, and mechanical engineering, including projects in the Caspian region. The company is also preparing to launch a full-cycle stainless steel production facility and is expanding its metallurgy plans, focusing on both the domestic market and exports. Additionally, it is considering the production of next-generation radio terminals for the oil and gas sector.
Turkmenistan is participating in the “SelectUSA 2026” investment summit in the United States
05.05.2026A delegation of Turkmen entrepreneurs is on a working visit to the United States, where it is taking part in the investment summit “SelectUSA 2026,” held from May 3 to 6 in National Harbor, Maryland. This was reported by the news website Turkmenportal. During the event, meetings are being held with American companies and investors. The summit is also attended by the Ambassadors Extraordinary and Plenipotentiary of Turkmenistan and the United States — Esen Aydogdyev and Elizabeth Rood. The program includes plenary sessions, an exhibition showcase, and expert discussions on investment, technology, and industrial development. The participation of Turkmen businesses in the forum reflects an interest in expanding economic cooperation between the two countries.
Transit through the border checkpoint between Turkmenistan and Iran increased by 48%
05.05.2026The volume of transit cargo through the Incheburun border checkpoint between Turkmenistan and Iran in Golestan Province increased by 48% between March 20 and April 20, reaching approximately 4,000 tons valued at 13 million US dollars. This was reported by the online publication “Business Turkmenistan”. The growth in transit was accompanied by an increase in exports from the region. During the reporting period, 65,000 tons of non-resource goods worth a total of 29 million dollars were exported through all customs checkpoints in Golestan. The export structure was dominated by agricultural and industrial products, including pistachios, steel bars, cheese, wood-based panels, pipes and profiles, beverages, polyethylene, and iodine. The main export markets were Central Asian countries. Incheburun is a major railway and road border crossing between Iran and Turkmenistan, located in northeastern Iran in Golestan Province, near the Caspian Sea coast. It serves as a key route for international transit traffic.
More than 120 companies are expected to attend the ‘Agro Pack Turkmenistan’ exhibition
04.05.2026The International Exhibition ‘Agro Pack Turkmenistan 2026’ will take place in Ashgabat from 12 to 14 May 2026. The event will be held in the Congress Hall of the Chamber of Commerce and Industry of Turkmenistan, according to the event’s website. The exhibition will run concurrently with ‘Food Turkmenistan 2026’ and will cover the entire production and sales cycle — from agriculture to processing and distribution. The sectors covered include equipment for the food industry, packaging, food products and additives, solutions for greenhouse farming, irrigation and grain storage, as well as equipment for livestock and poultry farming. The event is organised by ‘So Fuar Group’ and the Chamber of Commerce and Industry of Turkmenistan. In 2024, 75 companies from a number of countries took part in the exhibition. More than 120 participants are expected in 2026.
Turkmenistan has exceeded its oil and gas production targets
03.05.2026In January–April 2026, Turkmenistan exceeded its targets for oil and gas production and processing. This was reported by Turkmenportal. According to data from the State Concern ‘Türkmennebit’, oil production reached 107.1% of the target, whilst natural and associated gas production stood at 106.7%. Oil refineries also exceeded their targets: oil refining – 104.9%, petrol production – 113.7%, diesel fuel – 108.7%, lubricating oils – 110.3%, and liquefied gas – 122.1%. The sector’s performance was presented at a government meeting by Deputy Prime Minister Guvanch Agajanov. President of Turkmenistan Serdar Berdimuhamedov instructed that hydrocarbon production be increased, full capacity utilisation be ensured, and the efficiency of geological exploration and drilling operations be improved.
Turkmenistan is expanding gas production at the ‘Galkynyş’ field
03.05.2026Work has begun in Turkmenistan on the fourth phase of development of the ‘Galkynyş’ gas field. The project involves the construction of a facility with a capacity of 10 billion cubic metres of gas per year and the drilling of new wells. This was reported by AsmanNews. It is noted that the launch of this new phase is linked to the development of cooperation with China in the gas sector. The project aims to increase production volumes and expand export opportunities. The ‘Galkynyş’ field is one of the world’s largest in terms of natural gas reserves. Its development is seen as a key factor in strengthening the country’s position in the international energy market. The project also involves the introduction of modern technologies and the participation of international partners. This contributes to the development of the industry and the upskilling of specialists. It is reported that this new phase will create additional jobs and have a positive impact on economic and social development. The launch of the fourth phase opens up opportunities for further expansion of cooperation with foreign countries and the implementation of new energy projects.
Turkmenistan continues to maintain steady economic growth
03.05.2026The President of Turkmenistan, Serdar Berdimuhamedov, chaired a meeting of the Cabinet of Ministers at which the macroeconomic results for January–April 2026 were reviewed. This was reported by the publication ‘Turkmenistan: Golden age’. According to the Head of State, stable economic growth was achieved during the reporting period. GDP increased by 6.3%. State programmes are being implemented, and the development of industries and the modernisation of the manufacturing sector are continuing. Active construction of industrial facilities, residential buildings, modern housing estates, schools and nurseries has been noted. Work is also continuing to expand the country’s export potential. The President of Turkmenistan has instructed that strict control be exercised over the implementation of state programmes.
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