Economy
Gertner Group plans to expand cooperation with Turkmenistan
16.06.2026The Austrian company Gertner Group intends to expand cooperation with Turkmenistan in the fields of industry and technology transfer. This was stated by the company’s CEO Alexander Matzinger on the sidelines of the 13th meeting of the Joint Turkmen-Austrian Commission on Trade and Economic Cooperation held in Ashgabat, according to the news website Turkmenportal. According to him, the commission meeting outlined prospects for further development of industrial cooperation and the implementation of technologies in Turkmenistan. Matzinger noted the company’s interest in expanding its engagement. Alexander Matzinger also said that Gertner Group presented new directions in the field of industrial and construction materials. The meeting also discussed cooperation in tourism and culture. The company’s CEO emphasized the long-standing cultural ties between the countries and expressed a positive attitude toward further developing contacts with Turkmenistan.
EBRD Expects Turkmenistan’s Economy to Grow by 6.3% in 2026–2027
16.06.2026The European Bank for Reconstruction and Development (EBRD) forecasts that Turkmenistan’s economy will grow by 6.3% in 2026–2027, according to its June economic outlook. This was reported by the online publication “Business Turkmenistan”. In the first quarter of 2026, the country’s GDP had already increased by 6.3% year-on-year, driven by strong performance in the oil and gas sector, which exceeded planned production and processing targets. Additional growth came from a 2.4% increase in industrial output and the continued expansion of the construction sector, supported by government investments and major infrastructure projects. The EBRD expects further growth to be driven by the launch of the fourth phase of development at the Galkynysh gas field, as well as increased investment activity. Founded in 1991, the EBRD operates in 34 countries and has been active in Turkmenistan since 1992, supporting private sector development and financial sustainability.
Turkmenistan and Uzbekistan strengthen business cooperation at a forum in Dashoguz
15.06.2026A Turkmen-Uzbek business forum was held in the Dashoguz region with the participation of a delegation of entrepreneurs from Uzbekistan’s Khorezm region. This was reported by the press service of the Chamber of Commerce and Industry of Turkmenistan. The event was organized by the Chamber of Commerce and Industry of Turkmenistan and local authorities and aimed at developing trade and economic cooperation between border regions. Within the framework of the forum, bilateral meetings between business communities took place, resulting in agreements on cooperation. The Uzbek delegation also visited the Dashoguz cotton spinning mill and the private enterprise “Amantay,” where they familiarized themselves with production processes, technologies, and working conditions. The forum became another step toward strengthening business ties and expanding practical cooperation between Turkmenistan and Uzbekistan.
Foreign businessmen sign contracts at the Turkmenistan Stock Exchange
15.06.2026On June 12, transactions involving entrepreneurs from Afghanistan, Uzbekistan, and Turkey were concluded on the external and domestic markets of Turkmenistan as part of exchange trading. This was reported by the press service of the State Commodity and Raw Materials Exchange of Turkmenistan. On the external market, businessmen from Afghanistan and Uzbekistan signed contracts with the State Concern “Turkmengas” for the purchase of liquefied natural gas. Turkish businessmen, in turn, reached agreements with local suppliers for the purchase of cotton yarn. On the domestic market, Turkmen businessmen concluded deals with the Ministry of Textile Industry for the purchase of similar products — cotton yarn. As a result of the trading session, 14 deals were formalized for a total value of 63 million manats and 14 million US dollars.
Turkmenistan and Malaysia are preparing an agreement on cooperation in the gas sector
14.06.2026Malaysia and Turkmenistan plan to sign a long-term agreement on cooperation in the hydrocarbon sector on June 19. This was announced by Malaysia’s Deputy Minister of Economy Akmal Nasrullah Mohd Nasir, according to the online publication “Business Turkmenistan”. According to him, the agreement is aimed at strengthening energy supply chains and developing bilateral partnership. Malaysian authorities note that the country continues to diversify its energy sources and strengthen the resilience of the sector amid global challenges. Earlier, it was reported that the oil and gas company PETRONAS is considering participation in gas projects in Turkmenistan, and a Malaysian delegation is expected to visit the country in mid-June to discuss energy cooperation.
Fitch Ratings Affirms Stable Outlook on Turkmenistan’s Credit Rating
14.06.2026Fitch Ratings has affirmed the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the State Bank for Foreign Economic Affairs of Turkmenistan (SBFEAT) at “BB-” with a Stable Outlook, according to the news website Turkmenportal. The bank’s rating is aligned with the country’s sovereign rating and reflects Turkmenistan’s resilient macroeconomic performance, low level of public debt, and the stability of its financial system. The bank plays a key role in financing priority projects in the oil and gas, chemical, transport, agriculture, and healthcare sectors. It also acts as the government’s agent for attracting external borrowings and managing international financing activities.
“ASKIN & CO” Presents Hospital Digitalization Solutions to Turkmenistan
14.06.2026Austrian company ASKIN & CO GmbH has offered Turkmenistan solutions for the digitalization of healthcare institutions. This was announced by the company's CEO, Ralph Lugbauer, on the sidelines of the 13th meeting of the Joint Turkmen-Austrian Commission in Ashgabat, according to the news website Turkmenportal. According to Lugbauer, the company is completing a project to digitalize the Archman Sanatorium and continues to work with medical institutions in the country’s velayats (regions). During the meeting, the parties also discussed new opportunities for developing healthcare management systems. Lugbauer highlighted the high professional level of Turkmen specialists and thanked the country’s leadership for its attention to healthcare development. The visit of the Austrian delegation to Ashgabat will continue until June 14.
Turkmenistan is preparing for the first meeting of the joint commission with Slovakia
13.06.2026On June 12, a meeting of the Cabinet of Ministers of Turkmenistan considered issues related to preparations for the first meeting of the Turkmen–Slovak Joint Commission on Economic Cooperation. Deputy Chairman of the Cabinet of Ministers H. Geldimyradov delivered a report on this matter, according to the TDH news agency. As reported, work is underway to establish the commission and ensure organizational arrangements for its first meeting. During the upcoming meeting, it is planned to discuss the expansion of cooperation between Turkmenistan and the Slovak Republic in trade and economic affairs, fuel and energy, construction, transport and communications, as well as information technology. The agenda also includes issues of cooperation in agriculture, ecology, healthcare, medical science, education, culture, sports, and tourism. A corresponding proposal was submitted for consideration by the head of state. After hearing the report, President Serdar Berdimuhamedow emphasized that Turkmenistan is consistently developing cooperation with European countries, including the Slovak Republic. He signed the prepared document and instructed the deputy prime minister to continue work in this direction.
The Turkmen-Austrian Commission discussed economic cooperation in Ashgabat
13.06.2026On June 12, the 13th meeting of the Joint Turkmen-Austrian Commission on Trade and Economic Cooperation was held in Ashgabat. The event was attended by heads of relevant ministries and agencies of Turkmenistan and Austria, as well as representatives of business structures, the IIC reports. The parties discussed the development of bilateral economic relations and the increase of trade turnover. Particular attention was paid to the implementation of previously reached agreements and the introduction of Austrian experience in the field of digital economy into Turkmenistan’s industrial sector. During the talks, areas of further cooperation were considered, including tasks related to the digitalization of the economy and the expansion of industrial cooperation using innovative solutions. The Austrian side proposed holding training seminars for Turkmen specialists in the fields of medicine and innovation. A joint action plan in the areas of education and culture for 2026–2027 was also approved. Following the meeting, the Final Protocol of the 13th meeting of the Joint Commission was signed, consolidating the reached agreements and priority areas of cooperation.
Turkmenistan Presented Investment Opportunities at a Forum in Turkey
13.06.2026On June 11, 2026, the Embassy of Turkmenistan in the Republic of Turkey organized a business forum at the building of the Union of Chambers and Commodity Exchanges in Denizli. This was reported by the “Turkmenistan: Golden Age” news agency. More than 100 executives of Turkish companies and representatives of the private sector took part in the event. The forum aimed to introduce the Turkish business community to Turkmenistan’s investment potential. During the presentations, speakers noted that Turkmenistan is pursuing a consistent policy of developing international trade and economic partnerships based on the principles of mutual respect, equality, and trust in order to realize the country’s investment potential. It was emphasized that the state supports the development of the private sector and the attraction of foreign investment by providing favorable conditions for doing business. Special attention was given to the country’s commitment to introducing environmentally friendly and green technologies across all sectors of the economy. Forum participants discussed promising areas of investment cooperation, including the oil and gas chemical industry, the agro-industrial sector, transport and logistics, as well as telecommunications and information technologies. As part of the event, a video presentation highlighting Turkmenistan’s investment potential was shown.
The Ambassador of Turkmenistan discussed cooperation with the Malaysian Customs Service
12.06.2026The Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Malaysia held a meeting with the head of the country’s Royal Customs Department, Amran Ahmad. The sides discussed the state of bilateral relations and prospects for cooperation in trade, economic, and customs areas, according to the IIC. The Turkmen side proposed intensifying the exchange of professional experience between the customs services of the two countries and accelerating work on a draft Memorandum of Understanding in the customs sphere. The possibility of signing the document during the upcoming official visit of the Prime Minister of Malaysia to Turkmenistan was also considered. Malaysian representatives stated that the draft memorandum is currently under review by relevant legal bodies and agencies. They confirmed their readiness to provide a prompt response and expressed interest in further developing bilateral dialogue. The meeting took place in a constructive atmosphere, and both sides confirmed their commitment to expanding the partnership.
Turkmenistan and Pakistan discussed developing direct textile supplies
12.06.2026The Ambassador of Pakistan to Turkmenistan, Faryal Laghari, and the Chairman of the Nishat Group, Mian Muhammad Mansha, together with a delegation, visited the Turkmenbashi and Ashgabat textile complexes on June 6. They were accompanied by the Deputy Minister of Textile Industry of Turkmenistan, Togtamuрат Meredov, according to the news website Turkmenportal. The guests were shown the production facilities of enterprises manufacturing home textiles, yarn, and fabrics. The delegation paid particular attention to knitting workshops, where cotton blends are used. Mansha noted the high level of production organization and the significant participation of women in the workforce. Products for both the domestic market and export were also presented, including clothing and textile goods. It is noted that Nishat Group enterprises in Pakistan already use high-quality Turkmen yarn. During the negotiations, the sides discussed expanding exports in the interests of Nishat Group and the possibility of opening retail stores in both countries. The Pakistani side invited a Turkmen representative to visit local enterprises. As a result of the meeting, an agreement was reached to transition to direct supplies without intermediaries.
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