Economy
Registration has opened for the CIET 2026 International Conference and Exhibition
20.08.2026Registration is now open for the CIET 2026 International Conference and Exhibition ‘Development of the Construction, Industrial, Chemical and Energy Sectors of Turkmenistan’. The forum will take place on 3–5 November in Ashgabat. This was reported by the online publication ‘Business Turkmenistan’. The conference will be attended by representatives of government departments, investors, financial institutions, foreign companies, contractors, technology suppliers and industry experts. Last year, the forum brought together more than 500 delegates from over 50 countries. The main themes of CIET 2026 will be construction, industrial modernisation, the chemical and petrochemical sectors, energy, transport, infrastructure, digitalisation and smart technologies. Project financing mechanisms, including public-private partnerships, will also be discussed. Business meetings in both B2G and B2B formats are planned for participants with government bodies, enterprises and private companies in Turkmenistan. An international exhibition of equipment, technologies, building materials and industrial solutions will run in parallel. The forum will be held under the motto ‘Innovation • Investment • Growth’ and will focus on attracting foreign investment, technology and engineering expertise to Turkmenistan’s priority projects.
‘Türkmengeologiýa’ is stepping up its search for new gas fields
20.08.2026The State Corporation ‘Türkmengeologiýa’ is carrying out exploration and production drilling at oil and gas fields in various regions of Turkmenistan. The main focus is on the search for low-sulphur natural gas, according to the online news site AsmanNews. The work is being carried out as part of the ‘Programme for the Development of Turkmenistan’s Oil and Gas Industry for the period up to 2030’. Exploratory drilling for oil and gas is being carried out by specialised oil and gas exploration expeditions of the State Corporation ‘Türkmengeologiýa’. Strengthening the corporation’s material and technical base remains one of the priorities. Alongside the discovery of new fields, the sector is developing previously identified deposits, bringing them into production and increasing oil and gas output. This year marks the 20th anniversary of cooperation between Turkmenistan and the People’s Republic of China in the oil and gas sector. The fourth phase of the ‘Galkynyş’ field development has also commenced, involving the creation of facilities to process 10 billion cubic metres of marketable gas per year, as well as the drilling and commissioning of new gas wells. Geological exploration work continues in the sector using modern equipment and digital technologies, whilst cooperation with foreign oil and gas companies is expanding and investment is being attracted.
New gas fields in Turkmenistan are producing commercial volumes of gas
20.08.2026Turkmenistan’s oil and gas industry continues to increase hydrocarbon production and develop new fields. New commercial natural gas flows have been achieved both at fields in the Turkmen sector of the Caspian Sea and in regions across the country, according to the online news site AsmanNews. Production well No. A8 at the ‘Magtymguly’ field is yielding a flow of over 1.3 million cubic metres of natural gas and around 130 tonnes of gas condensate per day. The well, which is 4,981 metres deep, was drilled in the ‘Block 1’ contract area under the Production Sharing Agreement between ‘Petronas Carigali Sdn. Bhd.’ and the State Concern ‘Türkmennebit’. Work on developing the field is currently ongoing. Over 30 years of cooperation in the Turkmen sector of the Caspian Sea and the coastal zone, five modern platforms have been constructed and around 40 exploration, appraisal and production wells have been drilled. Joint production has exceeded 44 billion cubic metres of gas and 16 million tonnes of liquid hydrocarbons. The new phase envisages the development of offshore blocks 19 and 20, as well as the conduct of 2D seismic surveys on blocks 11, 12, 13 and 14. New gas inflows have also been recorded at fields in the regions. In the Mary velayat, at well No. 04 of the ‘Ýylan’ field, a daily inflow of methane gas in excess of 700,000 cubic metres was recorded. At well No. 265 of the ‘Çemmerli’ field in the Central Karakum gas condensate complex, at a depth of 1,200 metres, a commercial gas flow of 150,000–200,000 cubic metres per day was achieved. These results reflect the ongoing development of gas fields and the expansion of drilling operations in Turkmenistan’s oil and gas sector.
The ‘Körpeje’ drilling team has brought three productive wells into operation
20.08.2026Since the start of the year, specialists from the ‘Körpeje’ Drilling Operations Department of the State Concern ‘Türkmennebit’ have drilled 11,994 metres through rock and brought three new productive wells into operation. This was reported by the online news site AsmanNews. The drilling teams are continuing to explore and develop new reservoirs, working in promising areas and at deep levels. All three wells are production wells and have been handed over to the ‘Gumdagnebit’ Oil and Gas Production Department. Commercial oil flow has been achieved at the sites.
Turkmenistan and Pakistan discussed cooperation within the framework of the ECO
19.08.2026On 17 August 2026, a meeting took place in Tehran between the Ambassador Extraordinary and Plenipotentiary of Turkmenistan to the Islamic Republic of Iran and Permanent Representative of Turkmenistan to the Organisation of Economic Co-operation (ECO), Ilyas Gayipov, and the newly appointed Ambassador of the Islamic Republic of Pakistan to the Islamic Republic of Iran and Permanent Representative to the ECO, Imran Ahmed Siddiqui. This was reported by the press office of the Turkmen diplomatic mission. The parties discussed the development of cooperation within the framework of international organisations, including the United Nations, as well as key events during Pakistan’s chairmanship of the ECO in 2026–2027. Particular attention was paid to preparations for the 30th meeting of the Council of Ministers of the Organisation of Economic Co-operation, which will take place on 15–16 November in Islamabad. The interlocutors noted the importance of regular political dialogue for expanding co-operation between Turkmenistan and the Islamic Republic of Pakistan.
Turkmenistan and Japan are preparing for a new meeting of the economic committee
19.08.2026On 17 August, Atadurdy Bayramov, Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Japan, met with the newly appointed President of the Japan Business Association, Y. Kanehana of ROTOBO. This was reported by IIC of Turkmenistan. The parties discussed the expansion of trade, economic and investment cooperation. Particular attention was paid to preparations for the 16th meeting of the Turkmen-Japanese Committee on Economic Cooperation, which is to be held in Tokyo from 14 to 16 December 2026. There was also an exchange of views on joint initiatives, including projects in the field of the circular economy.
Trade turnover between Turkmenistan and China exceeded $4.8 billion in the first half of the year
18.08.2026Trade turnover between Turkmenistan and China for January–June 2026 amounted to $4,821,969,000, according to the online publication ‘Business Turkmenistan’. In June 2026, bilateral trade turnover between the two countries reached $890,262,000. Turkmen exports accounted for the bulk of this trade: in the first half of the year, Turkmenistan supplied goods worth $4 billion 44 million 409 thousand to China. Imports from China over the same period totalled $777 million 559 thousand. For the whole of 2025, trade between the countries exceeded $10 billion 46 million 52 thousand.
The ‘Bagdan’ company is expanding its confectionery production
18.08.2026The ‘Bagdan’ confectionery factory, which has been operating since 2017 in the Ak-Bugday etrap of the Ahal velayat, produces sweets. The production process utilises vacuum-drying technology, which preserves up to 95 per cent of the nutritional benefits of fruit and berries without the use of artificial preservatives, according to the IIC of Turkmenistan. The range includes sweetcorn sticks, nuts and Turkish delight with various fillings. The products are sold throughout the country, and there are around 20 branded retail outlets in Ashgabat. The company plans to expand its exports to CIS countries, Afghanistan and the Middle East.
Ten transactions were concluded on the Turkmenistan Stock Exchange
17.08.2026Ten transactions were concluded over the course of the week on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the news website Turkmenportal, citing the newspaper ‘Neutral Turkmenistan’. Foreign companies from the United Arab Emirates, Turkey, Serbia, Azerbaijan and Kyrgyzstan purchased, in foreign currency, knitted goods, waffle fabric, cotton yarn, cotton lint, cleaned cotton spinning waste, liquorice root extract, as well as liquorice roots and rhizomes. The total value of the transactions exceeded $2,247,000. On the domestic market, Turkmen entrepreneurs purchased cotton fabric worth 260,000 manats.
Turkmenistan and Uzbekistan discussed the development of freight transport
16.08.2026Representatives of Uzbekistan’s transport and logistics sector discussed measures to develop freight transport between the two countries with Shadurdy Meredov, the Ambassador of Turkmenistan. The meeting took place in Tashkent, according to the news agency Orient. The discussion was attended by representatives of the Centre for Transport Studies, the Uzbek Foreign Affairs Ministry, the Association of International Road Hauliers and major freight forwarding companies. The Uzbek side proposed simplifying transport procedures and reducing border crossing times. In particular, the discussion centred on electronic visa processing for drivers, reducing associated fees and speeding up procedures at the ‘Farab–Alat’ border crossing. It was also proposed to establish a ‘green corridor’ for lorries carrying perishable goods and to build a second bridge on the neutral strip. The parties considered revising weight and size restrictions, expanding the use of the Turkmenbashi Seaport’s infrastructure for road and rail transport, and resuming direct scheduled air services. The Embassy of Turkmenistan expressed its readiness to forward the Uzbek side’s proposals to the relevant state authorities for further consideration and the development of joint solutions.
Turkmenistan will take part in the CIIE 2026 exhibition
14.08.2026Turkmenistan will take part in the 9th China International Import Expo (CIIE), which will be held in Shanghai from 5 to 10 November 2026. This was reported by the news website Turkmenportal. Agreements on participation were reached on 12 August during a video conference between the Turkmen delegation and the leadership of the Eurasia Department of the Chinese Ministry of Commerce. The meeting discussed preparations for the national pavilion, where the country’s export and manufacturing potential is to be showcased. The parties also discussed the development of bilateral trade, the streamlining of export and import operations, and support for joint investment projects. Representatives from the Ministry of Trade and Foreign Economic Affairs of Turkmenistan, the Ministry of Finance and Economy, the State Concern ‘Türkmenhimiýa’, the Chamber of Commerce and Industry, and the Union of Industrialists and Entrepreneurs of the country took part in the negotiations.
Turkmenistan discusses the development of the creative economy
14.08.2026A meeting on the development of Turkmenistan’s creative economy was held at the ‘Iş Nokady’ co-working centre. It was attended by representatives of government organisations, the creative sector, civil society organisations and experts, according to the news agency ‘Turkmenistan: Golden age’. Clare Allbless, a representative of the British Embassy in Turkmenistan, noted the country’s high creative, innovative and entrepreneurial potential and emphasised the UK’s willingness to share its experience. An important milestone in the sector’s development was the first International Forum on ‘The Creative and Innovative Economy of Turkmenistan’, held in Ashgabat in the spring of 2025. In 2026, Turkmen creatives also took part in the Creative Central Asia forum in Tashkent. A Department for the Development of the Creative and Innovative Economy has been established within the Union of Economists of Turkmenistan. Experts are analysing the state of the sector and developing a project to map creative and innovative industries. Participants discussed the sector’s prospects, business development and the potential of young people in IT and creative start-ups. The division’s work covers design, IT and media, crafts, fashion, the arts and innovative entrepreneurship.
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