Economy
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.
Head of Turkmenistan Customs Service Meets with WCO Secretary General
28.06.2025During a working visit to Brussels, the Chairman of the State Customs Service of Turkmenistan, Maksat Hudaykuliev, met with the Secretary General of the World Customs Organisation (WCO), Ian Saunders. The meeting was also attended by Sapar Palvanov, Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Belgium, according to the news website Turkmenportal. M. Hudaykuliev confirmed his desire to expand cooperation with WCO, including projects on risk management and staff training. Special attention was paid to the training centre at the State Customs Service, which has been granted the status of a regional training centre. The ambassador conveyed official invitations to the Secretary General of the WCO to attend the Third UN Conference on Landlocked Developing Countries and the High-Level Dialogue on Peace. The Secretary General of the Organization accepted both invitations and confirmed his participation in the August forum. In addition, Mr. Saunders noted Turkmenistan's contribution to the development of the customs sector.
Turkmenistan and UKEF discuss prospects for economic cooperation
28.06.2025On 27 June 2025, a working meeting was held at the Ministry of Foreign Affairs of Turkmenistan between Deputy Minister of Foreign Affairs M. Byashimova and a delegation from the British export finance agency UK Export Finance (UKEF), led by Regional Director for Turkey, Eastern Europe and Central Asia Shebnem Alp. This was reported by the Foreign Affairs Ministry of Turkmenistan. During the talks, the interlocutors discussed topical issues of bilateral cooperation in the trade, economic and investment spheres. Particular attention was paid to specific infrastructure and export-oriented projects of mutual interest. Deputy Minister M. Byashimova noted the significant potential for expanding partnership between Turkmenistan and the United Kingdom in the context of sustainable economic development. In turn, UKEF representatives expressed their readiness for further dialogue and the search for effective mechanisms for implementing joint initiatives. At the end of the meeting, the parties confirmed their mutual interest in strengthening cooperation and agreed to continue working on the implementation of promising projects.
Ashgabat will host OGT 2025 International Conference and Exhibition
27.06.2025The 30th International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2025’ (OGT 2025) will be held in Ashgabat from 22 to 24 October. This was reported by the news agency ‘Turkmenistan: Golden age’. The conference, themed ‘Energy. Innovation. Development,’ is expected to bring together participants from more than 60 countries. The focus will be on international partnerships in sustainable development, investment in the oil and gas sector, energy transition, ecology, and the application of AI in hydrocarbon production. Turkmenistan, which is actively adapting to the global energy transition, offers investors projects ranging from the development of the Galkynysh field to the development of solar and wind energy. Participants will be presented with updated information on key initiatives: the development of Galkynysh, the TAPI gas pipeline, investments in the Caspian region, the expansion of gas exports, refining and petrochemicals, as well as methane emissions reduction and renewable energy projects at Lake Altyn Asyr.
Modernisation of ‘Temir Baba’ will optimise traffic on the border with Turkmenistan
27.06.2025By the end of 2025, a modernised ‘Temir Baba’ road border crossing point is planned to be put into operation on the border between Kazakhstan and Turkmenistan. This was reported by the online publication ‘Business Turkmenistan’. The reconstruction of the checkpoint is being carried out as part of a national project to develop Kazakhstan's transit potential, which was launched in 2018. Particular attention is being paid to the modernisation of checkpoints on the external borders with China, Uzbekistan and Turkmenistan. The project aims to speed up border crossings, ensure security, improve logistics and increase comfort. The checkpoints will be equipped with modern technology and adapted to the increasing volume of freight and passenger traffic. In 2025, the modernisation of the ‘Kaplanbek’, ‘Atameken’’, Kolzhat’ and ‘Alakol’ checkpoints has already been completed. By the end of the year, ‘Kazygurt’, ‘Tazhen’, ‘Temir Baba’, ‘Maykapchagay’ and ‘Bakhty’ are planned to be put into operation. In addition, the possibility of resuming direct air service between Ashgabat and Almaty next year is being considered.
Turkmenistan and Astrakhan develop trade cooperation
25.06.2025Trade and economic ties between Turkmenistan and Russia's Astrakhan Region continue to strengthen. ‘Grand Fish’ has begun exporting fish products to Turkmenistan and intends to increase the volume of supplies. This was reported by the news website Asmannews. Earlier, in April, Turkmen textile companies presented their products in Astrakhan and discussed prospects for further supplies. Turkmenistan is a leading producer of natural textiles in Central Asia, which is of great interest to Russian partners. The international exhibition ‘TurkmenTextile Expo – 2025’ was also held in Ashgabat, attended by a delegation from the Astrakhan company ‘Radmar’, which established new business contacts. The expansion of mutual cooperation contributes to the diversification of Turkmenistan's foreign economic relations and opens up additional opportunities for business on both sides.
The Foreign Affairs Ministry of Turkmenistan hosted a round table to mark the 25th anniversary of cooperation with the ADB
25.06.2025On 24 June 2025, an event was held at the Ministry of Foreign Affairs of Turkmenistan to mark the 25th anniversary of the partnership between Turkmenistan and the Asian Development Bank (ADB). The roundtable meeting was attended by high-ranking representatives of the Turkmenistan Government, Deputy Chairmen of the Cabinet of Ministers, heads of key ministries and departments, and a delegation from the Asian Development Bank led by Vice President Yang Yingming. This information was announced by the Ministry of Foreign Affairs of Turkmenistan. In his speech, Deputy Prime Minister Hojamyrat Geldimyradov highlighted the ADB's significant contributions to the development of Turkmenistan's economy, particularly in strategic sectors such as energy, transportation, and urban development. ADB Vice President Yang Yingming emphasised the strong trust-based relationship between the institution and Turkmenistan, as well as the importance of the recent meeting with President Serdar Berdimuhamedov. The event also highlighted promising joint projects, including the development of the Arkadag smart city. Participants discussed the implementation of the Memorandum of Understanding signed in May 2025 between the Arkadag Construction State Committee and the ADB.
Deals worth over $32.9 million were concluded on the SCRMET
23.06.2025Last week, 44 deals were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET). Business representatives from the UAE, the US, Afghanistan, and Uzbekistan purchased petroleum road bitumen from the state-owned company ‘Türkmennebit’, as well as liquefied gas produced at the ‘Türkmennebit’, ‘Türkmengaz’, and ‘Türkmenhimiýa’ enterprises. This was reported by the online publication ‘Turkmenistan: Golden age’. In addition, flannel products, Portland cement and licorice root extract were sold for foreign currency. The main buyers of these products were companies from the UAE, Turkey and Uzbekistan. The total volume of export transactions exceeded $32.9 million. On the domestic market, Turkmen entrepreneurs purchased terry products, cotton fabrics and yarn, cotton lint, polypropylene, base oil, petroleum bitumen, packaging film (from ‘Türkmennebit’) and technical carbon (from ‘Türkmenhimiýa’). The total value of domestic transactions amounted to over 78.1 million manats.
Turkmenistan's oil and gas industry demonstrates high performance
23.06.2025In anticipation of significant dates – the 34th anniversary of Independence and the 30th anniversary of permanent neutrality of Turkmenistan – the labour collectives of the State Concern ‘Türkmennebit’ are demonstrating impressive production results. In the International Year of Peace and Trust, oil and gas industry workers continue to make a significant contribution to the country's economic development. This was reported by the online publication AsmanNews. Numerous enterprises of the concern, including production, transport and processing divisions, are working in close coordination. Their coordinated activities have made it possible in the first five months of this year not only to meet but also to exceed the planned hydrocarbon production targets by 9%. The work of the specialists of the Main Oil Pipelines Department deserves special attention, as they ensured the uninterrupted transportation of oil to the Turkmenbashy Oil Refinery. The total volume of raw materials pumped amounted to almost 2 million tonnes, including 23,800 tonnes delivered by sea across the Caspian Sea. These achievements are of particular importance for the implementation of the strategic ‘Programme for the Development of the Oil and Gas Industry of Turkmenistan until 2030’. High production figures were made possible by the modernisation of infrastructure, the introduction of modern technologies and the professionalism of industry workers.
Work continues to expand the Goturdepe field in Turkmenistan
21.06.2025Active geological exploration continues in Turkmenistan, contributing to the growth of strategic raw material reserves and strengthening the country's resource potential. One example is the Goturdepe field, where specialists from the ‘Lebapnebitgazgözleg’ expedition of the ‘Türkmengeologiýa’ State Concern are conducting intensive exploration and prospecting work, according to the internet resource TerraNews. As a result of work on well No. 1907, which is 3,975 metres deep, commercial flows of oil and gas condensate — valuable hydrocarbons for the country's fuel and energy complex — were obtained at a depth of 3,658–3,664 metres. Drilling of well No. 1908 is currently continuing. These successes complement the efforts of the State Concern ‘Türkmennebit’ to efficiently use hydrocarbon resources and strengthen the country's position in the regional energy market.
The Foreign Economic Affairs Bank of Turkmenistan received a ‘BB-stable’ rating from Fitch Ratings
21.06.2025Deputy Prime Minister of Turkmenistan Hojamyrat Geldimyradov reported on the activities of the State Bank for Foreign Economic Affairs of Turkmenistan (TFEB) in obtaining an international rating from Fitch Ratings (UK) during a government meeting on 20 June. This was reported by the state news agency TDH. On 16 June, the bank received a ‘BB-stable’ rating. The agency noted the country's high level of financial stability, significant insurance reserves and high solvency of TFEB, which is one of the largest banks in Turkmenistan. After hearing the report, President of Turkmenistan Serdar Berdimuhamedov emphasised the significance of this event for strengthening Turkmenistan's international financial image and instructed the Deputy Prime Minister to continue work in the field of foreign economic activity.
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