Economy
A Turkmen company supplies denim products to Europe
24.03.2026‘Ayna Denim’ collaborates with the international brands ‘Colin’s’ and ‘Befree’ in the production of denim products. A company representative revealed this to the publication ‘Business Turkmenistan’ at an exhibition in Ashgabat marking the 18th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET). The production facility is located in the UIET industrial zone in the Ak-Bugday etrap of the Ahal velayat. The company employs around 400 staff. The company notes that local raw materials are used in production, and the entire process is organised on a full-cycle basis — from design development to sewing and the final finishing of products. ‘Ayna Denim’s infrastructure includes branches in Istanbul and a retail network in Ashgabat. Branded stores operate in the ‘Garaşsyzlygyň 15 ýyllygy’ shopping centre and the Gurtly residential area. The company also accepts custom orders from 1,000 units of product. The main export markets are Russia and European countries. Poland is among the promising markets. Water-saving technologies and eco-friendly materials are used in production, which helps to reduce the environmental impact.
The Turkmen Stock Exchange conducted 29 transactions over the course of the week
23.03.2026A total of 29 deals were concluded during the week on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the state news agency TDH. Companies from the United Arab Emirates, Afghanistan, Georgia and Uzbekistan purchased polypropylene and base oil produced by the State Concern ‘Türkmennebit’, as well as liquefied gas from the ‘Türkmengaz’ State Concern, in exchange for foreign currency. The total value of export transactions exceeded US$13,889,000. In addition, textile products, including terry and denim fabrics, were sold for export. The buyers were companies from the United Arab Emirates, Kyrgyzstan and Azerbaijan. On the domestic market, entrepreneurs purchased polypropylene, base oil and packaging film produced by ‘Türkmennebit’. The value of the transactions exceeded 26,251,000 manats.
Turkmenistan and China have increased their trade to $10 billion a year
22.03.2026The National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, stated in an interview with ‘CGTN’ that trade turnover between Turkmenistan and China has increased twentyfold since 2007. This was reported by Turkmenportal. According to Hero Arkadag, China remains Turkmenistan’s largest trade and economic partner. The annual volume of mutual trade reaches $9–10 billion. Cooperation covers energy, transport, communications, high technology, as well as the textile and agro-industrial sectors. Cooperation in the oil and gas sector and the prospects for the development of renewable energy were highlighted separately. In the transport sector, as the National Leader emphasised, around 90% of the country’s railway carriages and locomotives are manufactured in China. Cooperation on international transport and transit corridors is also developing, and purchases of Chinese equipment, including buses, are increasing. The potential for expanding trade routes across the Caspian Sea to ports in the Persian Gulf and the Indian Ocean was highlighted. Promising areas mentioned included the agro-industrial complex, urban development, the implementation of ‘smart’ cities, telecommunications and space technologies.
The development of Turkmenistan’s construction and industrial sectors will be discussed in Ashgabat
22.03.2026From 3 to 5 November, Ashgabat will host the International Exhibition and Conference ‘Development of the Construction, Industrial, Chemical, Energy Sectors of Turkmenistan’ (CIET). This was announced by the press office of the Chamber of Commerce and Industry of Turkmenistan. The event aims to attract foreign investment into key sectors of the country’s economy and to develop regional and international cooperation. Exhibitors will present the latest technological solutions and equipment in the fields of construction and industry. The organisers note that the event will serve as a unique platform for companies to demonstrate their potential, exchange experiences and establish new business contacts. Experts emphasise that the initiative also contributes to strengthening Turkmenistan’s international ties and stimulates the introduction of advanced technologies into the national economy.
Turkmenistan is updating its cooperation strategy with the EBRD for 2026–2030
21.03.2026On 20 March, during a government meeting, Rashid Meredov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan and the country’s Foreign Affairs Minister, presented a comprehensive plan to expand cooperation with the European Bank for Reconstruction and Development (EBRD). This was reported by the news agency Orient. The partnership, which began in 1992 and has already seen more than 80 projects implemented, is entering a new strategic phase. This work will be underpinned by a new partnership strategy between Turkmenistan and the EBRD for the period 2026–2030. The document aims to create a sustainable basis for attracting long-term investment in both state infrastructure projects and private sector development. To finalise the strategy, plans are in place to form a special working committee comprising representatives from the country’s financial and economic sector. Particular attention is being paid to the transport and logistics sector. It is envisaged that the bank’s resources will be utilised for the construction and large-scale reconstruction of key rail and road routes. These initiatives will be implemented in close coordination with the European ‘Global Gateway’ strategy, which will enable Turkmenistan to become more actively involved in transcontinental transport corridors. In the coming months, relevant ministries, including the Foreign Affairs Ministry, the Central Bank and State Bank for Foreign Economic Affairs of Turkmenistan, will prepare a detailed work plan for the implementation of these tasks.
Turkmen businesses showcased new brands at the UIET exhibition
20.03.2026A major exhibition showcasing the achievements of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) took place in Ashgabat at the Chamber of Commerce and Industry. The exhibition featured an updated catalogue of private brands, including contact details, websites and profiles of the country’s leading entrepreneurs. This was reported by the publication ‘Turkmenistan: Golden age’. The exhibition showcased successes in the processing industry and food production. Private enterprises are equipped with modern machinery, supply the domestic market and are actively expanding into export markets. The brand catalogue demonstrates the technological innovation and competitiveness of Turkmen business. The growth in the number of private brands confirms that entrepreneurship has become one of the driving forces of the economy, capable of rapidly introducing innovations and adapting to global trends. The exhibition and the register of manufacturers reflect a new reality in which Turkmen brands are becoming a mark of quality both within the country and beyond its borders.
Delegates at ‘IFT 2026’ discussed the agro-industrial and energy sectors
19.03.2026On the sidelines of the ‘IFT 2026’ International Investment Forum, which brought together hundreds of delegates from dozens of countries, active efforts were made to strengthen international cooperation. The event served as a platform for dialogue and concrete solutions, reports IIC. Bilateral meetings were the central focus of the forum: 36 rounds of negotiations were held in B2B and B2G formats. The IFT platform brought together government bodies, the private sector of Turkmenistan and international financial institutions. Discussions centred on strategic economic directions. Particular attention was paid to the agro-industrial and fuel-energy sectors. Members of the Union of Industrialists and Entrepreneurs of Turkmenistan discussed joint projects in construction, logistics and the textile industry. Cooperation with global financial institutions to support innovative initiatives was also considered. The main outcome of the forum was the signing of a package of agreements, which lays the foundation for long-term industrial and technological cooperation. The agreements are aimed at introducing modern technologies into production and expanding Turkmenistan’s export potential. The forum confirmed the steady growth in the country’s investment attractiveness, creating a platform for the region’s sustainable development.
Turkmenistan is launching a major digital transformation and AI development initiative
19.03.2026The Minister of Communications of Turkmenistan, Hajymyrat Hudayguliyev, has announced the implementation of a large-scale digital transformation programme for the country. At the International Forum ‘Investing in the Future of Turkmenistan’, he spoke about plans to build a national data centre, develop a state strategy in the field of artificial intelligence, and establish a specialised AI Development Centre based at the ‘Türkmentelekom’ State Enterprise, reports Turkmenportal. The digital transformation is being carried out as part of the State Programme for the Development of the Digital Economy for 2026–2028. The programme covers the introduction of 5G technologies, cloud services, big data, the Internet of Things and fintech, as well as the modernisation of e-government, telemedicine and distance learning. Pilot projects utilising artificial intelligence are already being implemented in education, healthcare, agriculture and traffic management. At the same time, construction of the second phase of the ‘smart’ city of Arkadag is continuing, using cutting-edge digital solutions, and IT centres are being established in both the capital and Arkadag. Hudayguliyev reported on negotiations with major foreign internet platforms regarding the development of e-commerce and called on foreign investors to invest in Turkmenistan’s digital infrastructure, noting that this is one of the most effective ways to modernise the telecommunications sector.
Chinese companies are strengthening ties with Turkmen businesses at the ‘IFT 2026’ forum
19.03.2026The business consultancy company ‘Huahe International’ plans to use the Silk Road Economic Alliance platform to promote Turkmenistan’s investment climate among Chinese enterprises and to develop permanent trade channels in key sectors of bilateral cooperation. This was announced by the company’s founder and CEO, Liu Chuanwu, at the International Forum ‘Investing in the Future of Turkmenistan’ (‘IFT 2026’), reports Turkmenportal. According to Liu Chuanwu, ‘Huahe International’ has been operating in the field of international business consultancy for many years, facilitating cross-border cooperation between Chinese and foreign organisations. In 2014, the company initiated the establishment of the Silk Road Economic Alliance, of which the Union of Industrialists and Entrepreneurs of Turkmenistan is a member. The company’s Head highlighted three areas of cooperation: promoting Turkmenistan’s investment opportunities among Chinese companies; expanding cooperation with Turkmen businesses in the fields of agricultural machinery, energy equipment, chemical products and agricultural goods, including professional support for procurement in China; and organising regular bilateral business visits and negotiation missions. ‘Turkmenistan has a stable investment environment, abundant natural resources and enormous investment potential,’ noted Liu Chuanwu, adding that the capabilities of Chinese enterprises ‘fully meet the needs of Turkmenistan’s industrial development.’ The ‘IFT 2026’ Forum is being held to mark the 18th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan. More than 500 delegates from 25 countries are taking part in the event.
The Turkmen agricultural holding is ready to collaborate on international projects
18.03.2026At the plenary session of ‘IFT 2026’, Yhlas Hudaynazarov, Director of ‘Miwe’ OJSC, presented the company’s achievements as one of Central Asia’s leading agro-industrial enterprises. The holding company manages a land portfolio of 8,825 hectares and is actively implementing high-tech solutions, reports IIC. Particular attention was paid to the irrigation system utilising natural elevation differences, which allows fields to be irrigated by gravity and reduces energy costs. ‘Miwe’ was the first company in Turkmenistan to receive the international GLOBAL G.A.P. certificate for almond cultivation, opening up access to markets in Europe, the UAE and China. In the protected cultivation segment, the company operates 65 hectares of banana greenhouses equipped with automated systems from Germany and Spain, which boosts yields and conserves resources. The holding company is actively developing processing under the ‘Erem’ brand. Fruit freeze-drying technology has been introduced, preserving up to 98% of vitamins without preservatives. The products have already received high praise at international exhibitions, including ‘Gulfood 2026’ in Dubai. The company demonstrates the readiness of Turkmenistan’s private sector to participate in global food security chains, as confirmed by experience at international summits in the US and UN forums. ‘Miwe’ invites investors to participate in joint projects. Among the priorities are the construction of industrial processing plants, the introduction of AI-based digital agronomy, and the development of cross-border logistics. The aim of these initiatives is to create an agro-hub for the direct supply of high-quality Turkmen products to global markets.
Atagulyev: The private sector’s share of Turkmenistan’s GDP continues to grow
18.03.2026The private sector’s share of Turkmenistan’s GDP is set to reach 72.9% by the end of 2026. This was announced by Nokerguly Atagulyev, Deputy Chairman of the Cabinet of Ministers, at the International Forum ‘Investing in the Future of Turkmenistan’ (‘IFT 2026’), reports Turkmenportal. According to him, this growth is ensured by state support for entrepreneurship, which has been implemented in the country over recent years. In 2026, the total volume of investment in the economy will exceed 41 billion manats. Around 70% of the funds — more than 28.2 billion manats — will be directed towards the creation of production facilities. The private sector will account for 32% of the investment, or around 13.2 billion manats. The forum coincides with the 18th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan, which brings together over 29,000 members. Since the organisation was established, over 422,000 jobs have been created. Currently, 155 projects are being implemented as part of the Presidential Programme for Socio-Economic Development for 2022–2028. By the end of 2025, the country’s GDP had grown by 6.3%. A total of 116 industrial and socio-cultural facilities were commissioned. Atagulyev also highlighted the key factors driving investment attractiveness: political stability, the raw materials base, competitive energy prices and the development of investment legislation. He called on foreign partners to expand cooperation.
IFT 2026: Turkmen-Turkish cooperation reaches a new level
18.03.2026The Turkish Chairperson of the Turkmen-Turkish Business Council and President of the ‘Burç Group’, S. Gomdeniz, speaking at the ‘IFT 2026’ International Investment Forum, emphasised the importance of the long-standing cooperation that began in 1991. This was reported by IIC. At present, the Turkmen-Turkish Business Council brings together thousands of companies contributing to the diversification of the Turkmen economy on the basis of long-term partnership and trust. Cooperation is built through collaboration between the Chamber of Commerce and Industry of Turkmenistan and the Union of Industrialists and Entrepreneurs of Turkmenistan with their Turkish counterparts, and the signed memoranda create a solid foundation for major projects. Turkish businesses are ready to invest and share their expertise in digital transformation and high technology, which opens up new opportunities for the sustainable development of both countries. The aim of the cooperation is to achieve a trade turnover of US$5 billion, focusing on the supply of strategic goods, including plastics, fertilisers and other industrial materials. Turkey’s private sector confirms its readiness to play an active role in Turkmenistan’s economic growth.
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