Economy
Turkmenistan and the UAE Discuss Expanding Cooperation in Business and Sports
19.06.2026The UAE Ambassador to Turkmenistan, Ahmed Al-Hameli, held meetings with representatives of the country's business and sports sectors to discuss prospects for cooperation. This was reported by the online publication “Business Turkmenistan”. The diplomat met with the head of the trading company “Hayran,” where the parties discussed developing cooperation and expanding business ties. A separate meeting was held with the sporting director of the “Karakum” football club in Ashgabat, focusing on potential collaboration in the field of sports. Following the talks, the participants expressed their interest in strengthening partnership ties between Turkmenistan and the UAE across various areas.
Turkmenistan and Slovakia strengthen trade and economic ties at a new level
18.06.2026The first meeting of the Turkmen-Slovak Joint Commission on Economic Cooperation started in Ashgabat on June 17. A Slovak delegation headed by Deputy Minister of Economy Vladimir Šimonjak arrived in Ashgabat. This was reported by the state news agency TDH. The two sides noted that the negotiations would be an important step toward strengthening economic relations and elevating cooperation to a new level. Interest was emphasized in developing partnerships in trade, investment, and business-to-business engagement. Turkmenistan identified the expansion of ties with European countries, including Slovakia, as a priority, along with the development of key sectors of the economy — industry, the digital sector, agriculture, transport, and logistics. During the meeting, the current state and prospects of bilateral cooperation were discussed, as well as possible joint projects in various fields — from energy and construction to education, healthcare, culture, and tourism. The official visit of the Slovak delegation was separately highlighted as confirmation of mutual interest in expanding partnership. Participants expressed confidence that the first meeting of the commission would strengthen the foundation for further cooperation. As part of the visit, bilateral and working meetings were also held with representatives of Turkmen ministries and agencies. The Slovak delegation was introduced to Ashgabat’s cultural landmarks and leading museums of the country.
Turkmen and Turkish entrepreneurs concluded deals for food supplies
18.06.2026On June 16, transactions for the purchase of a range of food products were concluded on both the external and domestic markets of Turkmenistan. This was reported by the press service of the State Commodity and Raw Materials Exchange of Turkmenistan. In particular, within the framework of trading on the external market, entrepreneurs from Türkiye signed agreements with local producers for the supply of first-grade wheat flour. At the same time, on the domestic market, deals were concluded between local entrepreneurs and the State Association of the Food Industry of Turkmenistan for the purchase of refined first-grade cottonseed oil. In total, two deals were concluded following the trading session, amounting to 2.8 million manats and 2.6 million US dollars.
Turkmenistan has entered into a new agreement on the development of the “CASCA+” corridor
18.06.2026Turkmenistan and five countries participating in the international transport corridor “CASCA+” have signed an agreement to expand freight transportation and develop the route, according to JSC “Uzbekistan Railways”. This was reported by the online publication “Business Turkmenistan”. The document was adopted following a meeting of the railway administrations of Turkmenistan, Turkey, Georgia, Azerbaijan, Uzbekistan, and Kyrgyzstan. The participants discussed the results of the corridor’s operation, the outcomes for 2025 and the first quarter of 2026, as well as the prospects for developing the route. Special attention was paid to improving transport efficiency, reducing transit time, enhancing service quality, and tariff policy. “CASCA+” unites the countries of Central Asia, the South Caucasus, and Turkey, forming a transit corridor between Asia and Europe. The project aims to develop Eurasian transport connectivity, including the potential strengthening of links between China and Europe through multimodal routes.
Minister of Trade of Turkmenistan familiarizes himself with Uzbekistan’s industrial sector
18.06.2026Minister of Trade and Foreign Economic Relations of Turkmenistan Nazar Agakhanov is participating in the events of the 5th Tashkent International Investment Forum, held in the capital of Uzbekistan. This was reported by the news agency Orient. On June 16, N. Agakhanov visited the Central Asian Expo Uzbekistan International Exhibition Center, took part in panel sessions, and also became acquainted with the activities of the Tashkent Technopark and the Center of Islamic Civilization. On June 17, he is expected to take part in the forum’s plenary session at the Tashkent City Congress Center. The visit program also includes trips to UzAuto Motors Powertrain and Artel Electronics enterprises. On June 18, Nazar Agakhanov will continue participating in panel sessions and will hold a meeting with Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov.
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.
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