Economy
A meeting of creative entrepreneurs was held in Ashgabat as part of the Go Viral project
30.07.2025The ‘Arkach’ Business Centre hosted another meeting as part of the regional Go Viral project, which brings together young entrepreneurs, start-ups and creative professionals from Central Asian countries. The Go Night event provided Turkmen innovators with a platform to exchange ideas and seek unconventional solutions in the fields of technology, media and business. This was reported by the online publication ‘Turkmenistan: Golden age’. Participants discussed how traditional cultural elements can be transformed into modern business models with the help of digital technologies. Presentations on the relationship between ethnic heritage and innovative start-ups were of particular interest. After the official part, a lively discussion and networking session took place, where participants were able to establish business contacts and discuss potential collaborations. The Go Viral project continues to strengthen regional cooperation by offering young professionals in Central Asia opportunities for professional growth and the implementation of socially significant initiatives. The next community meeting is scheduled for August 2025.
Turkmenistan and Japan held a business forum in Osaka
29.07.2025On 25 July, the Turkmen-Japanese Business Forum was held at the National Pavilion of Turkmenistan at EXPO 2025 in Osaka, aimed at strengthening economic ties between the two countries. This was reported by the online publication ‘Business Turkmenistan’. Participants discussed cooperation in the fields of high technology, the digital economy, energy and transport. The parties exchanged initiatives to create conditions for Japanese companies to enter the Turkmen market and jointly implement innovations. The forum contributes to the development of economic ties in the Central Asian region.
Entrepreneurs from Turkmenistan have concluded a deal with Kyrgyz partners
29.07.2025On 28 July, Kyrgyz entrepreneurs in the foreign market concluded a deal with Turkmen business partners for the purchase of jeans. This was reported by the press service of the SCRMET. As a result of the tender, one deal was concluded for a total amount of 1.479 million US dollars.
Seydi Oil Refinery increases production rates
29.07.2025Employees at the Seydi Oil Refinery are demonstrating high production results: the volume of raw materials processed increased by 22% compared to the same period last year and amounted to almost 270,000 tonnes. This was reported by the news website Asmannews. The plant produces petroleum products in high demand, such as gasoline, diesel fuel, bitumen and others. More than 1,800 specialists contribute to the consistent operation of the plant. Great attention is paid to social issues: employees receive support for health, recreation and housing. A new residential building for plant workers is being built in the city of Seydi, which will house 24 families.
Turkmen seaport specialists upgraded their qualifications in Malaysia
29.07.2025Specialists from the International Sea Port of Turkmenbashi took part in the ‘Regional Maritime Capacity Enhancement’ programme, held from 21 to 25 July in Malaysia. The event, organised by the Port of Klang with the support of the country's Ministry of Transport, brought together representatives from 15 countries in Central and South Asia, as well as ASEAN countries. This was reported by the online publication ‘Turkmenistan: Golden age’. During the programme, Turkmen participants deepened their knowledge of port management, studied advanced methods of cargo operations and modern approaches to logistics planning. Particular attention was paid to the exchange of experience with colleagues from the Port of Klang, which is one of the ten most developed container terminals in the world. This participation contributes to the further improvement of the professional competencies of Turkmen specialists and the strengthening of international cooperation in the maritime industry, which is in line with the strategic objectives of developing Turkmenistan's transport and logistics potential.
Deals worth over $96.5 million were concluded at the SCRMET
29.07.2025Last week, 19 deals were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. Foreign entrepreneurs from the UAE, Turkey and Afghanistan purchased liquefied gas and urea produced by the State Concern ‘Türkmenhimiýa’. This was reported by the online publication ‘Turkmenistan: Golden age’. Companies from Turkey, Kyrgyzstan, Armenia and other countries purchased textile products, including terry products, cotton yarn and fabrics, as well as purified cotton waste and cotton fibre. The total value of export contracts exceeded $96.5 million. On the domestic market, Turkmen businessmen purchased polypropylene, base oil, mixed paraffin wax (State Concern ‘Türkmennebit’), as well as float glass and cotton yarn. The total value of transactions in national currency amounted to 87.1 million manats.
International conference in Turkmenistan will serve as catalyst for creating new transport opportunities
28.07.2025In early August, the Turkmen coast of the Caspian Sea will host the Third UN Conference on Landlocked Developing Countries. This large-scale event, initiated by Turkmenistan and supported by 57 countries, confirms the country's growing role in global processes. This was reported by the online publication ‘Turkmenistan: Golden age’. Preparations for the forum are being made at the highest level. President Serdar Berdimuhamedov signed a special decree confirming the organisational aspects of the conference. More than 30 Heads of State and Government, as well as Heads of relevant UN agencies and international organisations, will gather in Avaza. The five-day forum will focus on strategic issues related to the development of transport corridors, deepening regional integration and developing effective macroeconomic models. Experts predict that the conference will not only strengthen multilateral cooperation, but also propose innovative approaches to overcoming geographical constraints.
Turkmenistan has concluded export deals with Afghanistan, Turkey and Hong Kong
27.07.2025On 26 July, seven deals worth a total of 44.496 million manat and 636,538 thousand US dollars were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the press service of the SCRMET. On the foreign market, entrepreneurs from Afghanistan signed a contract with the State Concern ‘Türkmenhimiýa’ for the purchase of liquefied gas. In addition, businessmen from Turkey and Hong Kong concluded agreements with local companies for the purchase of cotton yarn and textile waste. On the domestic market, Turkmen entrepreneurs concluded deals with the State Concern ‘Türkmennebit’ for the purchase of polypropylene grade TPP D 30 S, base oil SN-180 and paraffin wax.
Kazakhstan delegation visited Turkmenistan to strengthen trade ties
26.07.2025A delegation from Kazakhstan paid an official visit to Turkmenistan with the aim of strengthening economic and trade ties. The trip included meetings with representatives of government agencies, businesses and key industries, including energy, transport, healthcare and manufacturing. This was reported by the IIC. Particular attention was paid to energy: cooperation on the development of the largest gas field, ‘Galkynysh’, and the development of a partnership between QazaqGaz and the State Concern ‘Türkmengaz’ were discussed. Projects in the field of petrochemicals and the modernisation of railway infrastructure were also considered. Kazakhstan expressed interest in participating in the construction of the Torghundi-Herat railway as part of the North-South corridor. The parties signed 20 agreements and seven memoranda in the fields of investment, logistics, agriculture, digitalisation and tourism. A strategic partnership programme for 2025–2027 was adopted. The visit also included a cultural programme, with the delegation visiting the National Museum of Turkmen Carpets. Both sides reaffirmed their commitment to further deepening bilateral cooperation.
Businessmen from Armenia purchased textile products from Turkmenistan
26.07.2025On 24 July, Armenian entrepreneurs signed a trade agreement with businessmen from Turkmenistan on the supply of textile products. This was reported by the press service of the SCRMET. Under the deal, plain-dyed jacquard terry products, dyed flannel fabric and raw cretonne fabric were purchased. On the domestic market, Turkmen entrepreneurs signed an agreement with the Ministry of Textile Industry for the purchase of cotton yarn. At the end of the trading day, two deals were concluded for a total amount of 3.861 million manat and 322,472 thousand US dollars.
Turkmenistan and India discussed new horizons of cooperation
25.07.2025On 24 July, negotiations were held in Delhi between Nazar Agahanov, Minister of Trade and Foreign Economic Relations of Turkmenistan, and Shri Jitin Prasada, Minister of Commerce, Industry, Electronics and Information Technology of India. This was reported by the IIC. The Indian Minister congratulated the Turkmen delegation on their new appointments and expressed satisfaction with his first official visit to the country. During the constructive dialogue, the parties outlined promising areas of partnership, paying particular attention to the development of the agricultural sector and food security, technological cooperation and the digitalisation of the economy. The parties demonstrated their readiness to take bilateral relations to a qualitatively new level, covering not only traditional economic sectors but also other promising areas of cooperation. Particular emphasis was placed on the creation of sustainable mechanisms for interaction that would contribute to the long-term and mutually beneficial development of relations between the two countries.
Turkmenistan Ambassador to China discussed participation in Baketu Forum with Chinese delegation
25.07.2025On 24 July, negotiations between the Head of the diplomatic mission and the Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) took place at the Embassy of Turkmenistan in Beijing. The main topic of the meeting was the participation of the Turkmen side in the upcoming Baketu Forum, which will be held on 25 September in the Xinjiang Uyghur Autonomous Region. This was reported by the Foreign Affairs Ministry of Turkmenistan. The Chinese partners provided detailed information about the upcoming event, which is being organised jointly with the People’s Government of Tacheng Prefecture and the China International Council for the Promotion of Multinational Corporations (CICPMC). Particular emphasis was placed on the importance of involving Central Asian countries, including Turkmenistan, in the region's integration processes. The Turkmen Ambassador thanked for the invitation and informed his Chinese colleagues about the foreign policy priorities of the country, as well as about the planned international initiatives with the participation of Turkmenistan. The negotiations took place in a friendly atmosphere, confirming mutual interest in the development of bilateral cooperation. As a sign of strengthening cultural ties, the Chinese delegation was presented with books by the President of Turkmenistan, ‘The Spiritual World of Turkmens,’ and a collection of poems by Magtymguly Pyragy in Chinese, published to mark the 300th anniversary of the great poet. This gesture symbolises the multifaceted partnership between the two countries, covering both economic and humanitarian spheres.
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