Economy
New freight diesel locomotives from China have arrived in Turkmenistan
21.06.2026Modern three-section freight diesel locomotives manufactured by the Chinese company “CRRC Ziyang Co., Ltd.” have arrived in Turkmenistan. A ceremonial reception of the equipment took place at the Ashgabat railway station, according to the news website AsmanNews. The delivery of the locomotives marks a stage in the modernization of the national railway system and is the result of expanding strategic cooperation between Turkmenistan and the People’s Republic of China. The new locomotives are being supplied to the country for the first time and are equipped with advanced digital control systems. According to specialists, the hauling capacity of the three-section locomotive reaches 6,300 tons, compared to 4,200 tons for two-section models. This will allow freight transport volumes to increase by approximately 1.5 times. The design speed is up to 100 km/h, improving transportation efficiency. As part of the cooperation, a major overhaul of previously operated locomotives has also been carried out, strengthening the technical capacity of the railway sector. The development of the transport and communications complex remains a priority of Turkmenistan’s state policy. The introduction of modern technologies and the expansion of transit capabilities are aimed at strengthening the country’s position in the international transport market.
Turkmenistan and Petronas Plan Joint Operations in the Caspian Sea
21.06.2026During talks in Ashgabat, President of Turkmenistan Serdar Berdimuhamedov and Malaysian Prime Minister Anwar Ibrahim discussed cooperation in the oil and gas sector, which remains one of the key areas of bilateral partnership. This was reported by the “Turkmenistan: Golden Age” news agency. The head of state highly praised the activities of Petronas, describing the company as one of Turkmenistan’s main partners in the energy sector. President Serdar Berdimuhamedov announced that a number of bilateral documents are being prepared to implement long-term projects in the oil and gas industry. In the near future, with the participation of Petronas, work is planned to begin on the development of new hydrocarbon fields and the exploration of promising oil and gas complexes in Turkmenistan’s sector of the Caspian Sea.
Islamic Development Bank increases support for projects in Turkmenistan
20.06.2026The total volume of approved financing for projects in Turkmenistan by the Islamic Development Bank Group has reached USD 1.38 billion across 30 operations. This was reported by the online publication “Business Turkmenistan”. The information was announced following a meeting between the Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan, Rahimberdi Jepbarov, and the President of the Islamic Development Bank Group, Muhammad Al-Jasser. The meeting took place in Baku on the sidelines of the annual meeting of the Islamic Development Bank Group. The parties discussed prospects for further expanding cooperation in the areas of transport connectivity, trade finance, and support for Turkmenistan’s long-term socio-economic development priorities. The annual meeting of the Islamic Development Bank Group is being held in Baku and brings together representatives of member states, international financial institutions, and the business community to discuss issues of sustainable development, investment, and regional cooperation.
First Meeting of the Turkmen-Slovak Commission Held in Ashgabat
19.06.2026On June 18, the first meeting of the Turkmen-Slovak Joint Commission on Economic Cooperation was held at the Ýyldyz Hotel in Ashgabat. The event brought together representatives of ministries and government agencies from both countries, as well as a delegation from the Slovak Republic headed by Deputy Minister of Economy Vladimir Šimoňák, according to the news website AsmanNews. The establishment of the commission was approved by a decree signed by President Serdar Berdimuhamedov on June 12 during a meeting of the Cabinet of Ministers. During the meeting, the parties discussed prospects for expanding bilateral cooperation and measures to increase trade turnover. It was noted that the Agreement on Economic Cooperation between the Government of Turkmenistan and the Government of the Slovak Republic, signed in Awaza in August 2025, had provided additional momentum to the development of the partnership. Particular attention was given to cooperation in trade and economics, the fuel and energy sector, construction, transport and communications, information technologies, agriculture, healthcare, education, culture, sports, and tourism. The participants also reviewed issues related to the implementation of joint investment projects, cooperation in the oil and gas industry, the development of transport and logistics links, the introduction of modern technologies in agriculture, the expansion of educational exchanges, and cooperation in the field of digital healthcare. Following the meeting, the parties signed the Protocol of the First Meeting of the Turkmen-Slovak Joint Commission on Economic Cooperation and outlined further steps to strengthen bilateral economic partnership.
Turkmenistan Participated in the TIIF 2026 Investment Forum in Tashkent
19.06.2026On June 16–18, 2026, a delegation of Turkmenistan led by Minister of Trade and Foreign Economic Relations N. Agakhanov took part in the Fifth Tashkent International Investment Forum (TIIF 2026) held in Tashkent. This was reported by the press service of the Ministry of Foreign Affairs of Turkmenistan. The forum’s opening ceremony was attended by the President of Uzbekistan, the President of Albania, the Prime Ministers of Azerbaijan, Belarus, Kyrgyzstan, Kazakhstan, Russia, and Tajikistan, as well as representatives of governments from other countries, the U.S. business community, and international financial institutions, including the European Bank for Reconstruction and Development, the World Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the BRICS New Development Bank, and the Eurasian Development Bank. Participants discussed the development of the energy sector, transport connectivity, the digital economy and artificial intelligence, the exploration of mineral resources, food security, and the improvement of financial and investment instruments. The participation of the Turkmen delegation reflects the country’s interest in developing international economic cooperation and expanding investment partnerships.
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.
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