Economy
The State Concern ‘Türkmennebit’ is expanding its partnership with Chinese companies
30.04.2026Batyr Jumayev, Deputy Chairman of the State Concern ‘Türkmennebit’, spoke at the Turkmen-Chinese Business Forum about the key role of the oil and gas sector in Turkmenistan’s economy and its significance for the Caspian region and Central Asia. This was reported by the IIC of Turkmenistan. B. Jumayev noted that the country has established a complete production cycle – from raw material extraction to the deep processing of gas condensate. Large oil refineries in Turkmenbashi and Seydi supply the domestic market and export high-quality products. As part of this cooperation, 29 contracts worth $439 million are being implemented. Turkmenistan is also purchasing modern Chinese equipment and machinery to modernise its energy sector. B. Jumayev highlighted the keen interest of Chinese companies in the Turkmen market and the effectiveness of joint projects, describing the partnership with China as a key factor in the further development of energy cooperation.
Chinese Ambassador: Cooperation with Turkmenistan is entering a new phase
30.04.2026Ji Shumin, Ambassador of the People’s Republic of China to Turkmenistan, stated during the Turkmen-Chinese Business Forum in Ashgabat that the exhibition marked an important step in the implementation of the agreements reached between the leaders of the two countries. This was reported by the IIC of Turkmenistan. The Ambassador noted that relations had strengthened following the March visit to China by the National Leader of the Turkmen people and Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, where negotiations with Xi Jinping culminated in the signing of major intergovernmental agreements. Separately, the diplomat highlighted the recent visit to Turkmenistan by Ding Xuexiang, Vice-Premier of the State Council of the People’s Republic of China, including his participation in the launch of the fourth phase of development of the ‘Galkynysh’ field, which has strengthened the energy partnership. He also emphasised China’s interest in the development of non-resource sectors and its readiness to support their expansion.
8.7 billion manats will be allocated for the development of Ashgabat in 2026
30.04.2026In 2026, capital investment in the development of Ashgabat will amount to 8.781 billion manats, according to the ‘Socio-Economic Development and Investment Programme of Turkmenistan’. This was reported by the online publication ‘Business Turkmenistan’. The bulk of the funds – 3.68 billion manats (41.9%) – will be allocated to the construction and modernisation of industrial facilities. Plans also include the regeneration of the capital’s architectural landscape, landscaping, the construction of new residential complexes and the modernisation of engineering infrastructure.
Turkmenistan announced plans to modernise its railway sector at a forum held at the CCIT
30.04.2026At the Turkmen-Chinese Business Forum held at the Chamber of Commerce and Industry of Turkmenistan (CCIT), Minister of Rail Transport of Turkmenistan, Mammet Akmammedov, highlighted the country’s key role in the development of international transport corridors. This was reported by the IIC of Turkmenistan. Among the significant projects highlighted was the ‘Kazakhstan–Turkmenistan–Iran’ railway line, which has expanded freight transport capabilities between the regions. As part of infrastructure modernisation, new stations are being built and tracks are being upgraded. On the ‘Ashgabat–Turkmenbashi’ section, trains reach speeds of up to 160 km/h (passenger) and up to 90 km/h (freight), which reduces journey times and improves logistics efficiency. The development of cooperation with China since 2005 was highlighted separately. In 2025, new rolling stock was delivered to the country, including diesel locomotives adapted to the local climate. Furthermore, the fleet of passenger carriages has been modernised through the purchase of 423 units, which has improved the level of comfort and safety of travel.
The Minister of Economy of Turkmenistan has outlined the priorities for economic development
30.04.2026During the Turkmen-Chinese Business Forum held at the Chamber of Commerce and Industry of Turkmenistan, Turkmenistan’s Minister of Finance and Economy, Mammetguly Astanagulov, presented updated macroeconomic data reflecting the consistent state of the national economy. This was reported by the IIC of Turkmenistan. By the end of 2025, the country’s GDP had reached US$77.4 billion, with economic growth standing at 6.3%. Turkmenistan’s investment appeal is confirmed by the share of foreign investment, which stands at around 10%. The modernisation of management and production processes has been identified as a priority of state policy. According to representatives of the agency, this creates additional opportunities for the development of joint projects, including with Chinese partners.
A forum on the development of Turkmen-Chinese economic partnership has begun in Ashgabat
29.04.2026A business forum has opened in Ashgabat at the Chamber of Commerce and Industry of Turkmenistan as part of the Turkmen-Chinese exhibition, bringing together representatives of government bodies, the business sector and the expert community from both countries. This was reported by IIC of Turkmenistan. Participants are discussing the implementation of previously reached agreements and new areas of cooperation in the context of global economic changes. Key topics include energy, transport, logistics and industrial cooperation. The Chinese side is interested in expanding imports of Turkmen products and introducing technologies into joint projects, whilst Turkmenistan has confirmed its readiness to develop investment attractiveness and transport corridors. Particular attention was paid to B2B negotiations between business representatives, where specific contracts and joint ventures were discussed. Experts view the forum as an indicator of growing trust and a transition towards a more long-term technological partnership.
The Turkmen-Chinese Business Forum is taking place in Ashgabat
28.04.2026The Turkmen-Chinese Business Forum and Exhibition opened in Ashgabat on 28 April. The events are being held at the Chamber of Commerce and Industry and will conclude on 30 April, according to the state news agency TDH. Representatives of over 200 Chinese companies are taking part in the forum. The opening ceremony was attended by the Speaker of the Mejlis, Deputy Chairmen of the Cabinet of Ministers, heads of ministries and departments, and heads of diplomatic missions. Participants heard a congratulatory message from the President of Turkmenistan, Serdar Berdimuhamedov, which highlighted the commitment to strengthening bilateral cooperation in science, technology and innovation. A key area of the partnership is the fuel and energy sector. This year, Turkmenistan and China are marking the 20th anniversary of their cooperation in the gas sector. Work has recently commenced on drilling wells and constructing a gas processing plant with a capacity of 10 billion cubic metres per year at the ‘Galkynysh’ field – the fourth phase of its development. More than 70 exhibition stands feature Chinese companies from the oil and gas, transport, telecommunications, agriculture, medicine and education sectors. Exhibits on artificial intelligence, robotics and the development of ‘smart’ cities attracted particular interest from visitors. Bilateral meetings between the heads of relevant ministries in Turkmenistan and representatives of Chinese businesses took place during the exhibition. A detailed discussion on trade cooperation is scheduled for the second day of the forum.
Trade between Turkmenistan and China continues to grow rapidly
28.04.2026According to data from the General Administration of Customs of the People’s Republic of China, trade between Turkmenistan and China reached $2.228 billion in January–March 2026. This was reported by the online publication ‘Business Turkmenistan’. In March 2026, bilateral trade between the countries amounted to $672.093 million. Turkmen exports accounted for the lion’s share of the trade balance. In the first quarter of 2026, Turkmenistan supplied goods worth $1.895 billion to China, whilst imports of Chinese products over the same period amounted to approximately $332.3 million. By way of comparison, by the end of 2025, total trade between the two countries had reached $10.046 billion.
Turkmenistan took part in discussions on inter-trade union cooperation in Central Asia
28.04.2026A delegation from the National Trade Union Centre of Turkmenistan took part in the General Assembly of the Council of Trade Unions of Central Asian Countries, which was held on 27 April in Tashkent. This was reported by the IIC. The role of Uzbekistan’s trade unions in fostering constructive dialogue and promoting the principles of decent work and social protection was highlighted. It was emphasised that cooperation in the region is based on strategic dialogue between the leaders of Turkmenistan and Uzbekistan and is already yielding practical results, including the development of cross-border trade and humanitarian ties. The Turkmen side noted the strengthening of inter-trade union cooperation following the 2025 Ashgabat meeting and supported the further institutional development of the association based on trust and shared goals. In conclusion, the participants reaffirmed their commitment to partnership, stability and the joint resolution of the region’s socio-economic challenges. Following the meeting, the organisation was transformed into the Confederation of Trade Unions of Central Asia.
The Turkmen-Chinese exhibition opened in Ashgabat
28.04.2026The Turkmen-Chinese Exhibition was officially opened at the Chamber of Commerce and Industry of Turkmenistan. This was reported by the news website Turkmenportal. In an address by the President of Turkmenistan, Serdar Berdimuhamedov, read out at the ceremony, it was emphasised that China remains a key trade and economic partner for the country. The priority areas for cooperation were identified as the oil and gas sector, transport and logistics, digital technologies, telecommunications, as well as science, education and tourism. Companies from both countries are participating in the exhibition. Among the Chinese exhibitors are ‘NUCTECH’, ‘HUAWEI’, ‘LOVOL’, ‘SHANTUI’ and others. The ‘Geely’ car brand is being showcased separately with its 2025 models. A Turkmen-Chinese business forum is scheduled for 29 April, where the development of bilateral cooperation and joint projects will be discussed. The events will run until 30 April, and a cultural programme has also been organised for guests from the PRC.
Last week, 28 transactions were recorded on the Turkmenistan Stock Exchange
27.04.2026Last week, 28 transactions were concluded on the State Commodity and Raw Materials Exchange of Turkmenistan, covering products from the oil and gas and light industries. The foreign trade segment saw active purchases of base oil by businesses from China and Uzbekistan, according to the IIC. Exports also included building materials and textiles. Buyers from China, the UAE, Turkey, Kyrgyzstan and Uzbekistan purchased Portland cement, denim clothing, cotton yarn and wheat flour. The total value of foreign exchange contracts exceeded $20 million, indicating stable external demand. On the domestic market, Turkmen enterprises purchased technical sulphur, polypropylene, road bitumen, as well as raw silk and cotton fibre. The volume of investment by domestic businesses amounted to over 529.8 million manats.
A Turkmen delegation attended an industrial forum in Tashkent
24.04.2026From 20 to 22 April, a Turkmen delegation led by B. Tatov, Deputy Minister of Industry and Construction of Turkmenistan, took part in the 6th International Industrial Exhibition ‘INNOPROM. Central Asia’ in Tashkent. This was reported by the press service of the Foreign Affairs Ministry of Turkmenistan. As part of the exhibition, the delegation took part in the first meeting of the Ministers of Industry of the Central Asian countries and the Russian Federation. The parties discussed industrial cooperation, the implementation of joint projects and the training of personnel for the industrial sector.
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