Economy
Turkmenistan prepares for business forum with Japan
19.07.2025Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Atagulyev reported on preparations for the upcoming Turkmen-Japanese business forum during a government meeting on 18 July. This was reported by the state news agency TDH. It is noted that active work is underway to organise the event at a high level. Japanese companies working in the fields of investment, education, services, oil and gas, industry, healthcare, construction and logistics have expressed interest in participating. Turkmenistan will be represented at the forum by the Chamber of Commerce and Industry, the Union of Industrialists and Entrepreneurs, as well as relevant ministries and departments. The relevant proposal has been submitted to the President of Turkmenistan, Serdar Berdimuhamedov, for consideration. After hearing the report, the Head of State emphasised the country's active participation in international forums and recalled the successful work of the Turkmen pavilion at the EXPO 2025 exhibition in Osaka. The Head of State instructed the Deputy Prime Minister to ensure proper preparation and hold a high-level business forum.
Turkmenistan strengthens its position in the oil and gas industry with the launch of a new offshore terminal
19.07.2025A new marine berth at the Kenar terminal for the storage and shipment of petroleum products has been officially opened in Turkmenistan. President Serdar Berdimuhamedov launched the strategic facility via videoconference. This was reported by the IIC. The new terminal, which is part of the ‘Turkmenbashi Oil Refinery’, is equipped with modern equipment and can simultaneously serve two tankers. Its commissioning will increase the annual volume of shipments to 2 million tonnes of petroleum products. The historic enterprise, founded in 1886, now employs more than 700 specialists. Thanks to its developed infrastructure, it supplies products to both the domestic market and abroad. The new terminal is of particular importance in the run-up to the Third UN Conference on Landlocked Developing Countries, which will be held in August in Avaza, Turkmenistan. The grand opening ceremony of the marine berth ended with traditional blessing rituals and the presentation of cars to the company's best employees.
Ashgabat will host anniversary forum "Oil and Gas of Turkmenistan - OGT 2025"
19.07.2025This October, Ashgabat will host the 30th anniversary forum ‘Oil & Gas of Turkmenistan – OGT 2025.’ Over 100 participants have registered for the event, making it one of the largest and most innovative conferences ever held, according to the news website Asmannews. Under the motto ‘Energy. Innovation. Development,’ the forum will bring together experts, investors and politicians from more than 60 countries. The focus will be on expanding gas exports and developing green energy. S&P Global Platts is the intellectual partner of OGT 2025, organising closed-door discussions on key industry trends. Technical sessions on carbon capture and underground gas storage will be held by Gaffney Cline and the Society of Petroleum Engineers (SPE). The forum will also showcase Turkmenistan's achievements in renewable energy, including hybrid power plants and measures to reduce emissions. Auguste International has joined the list of gold sponsors.
Turkmenistan took part in the 106th meeting of the CIS Economic Council in Moscow
19.07.2025The 106th meeting of the CIS Economic Council took place in Moscow today. Turkmenistan was represented at the event by Esen Aydogdyev, Ambassador Extraordinary and Plenipotentiary to the Russian Federation. High-ranking delegates from all CIS member states took part in the meeting. This was reported by the IIC. The participants focused on discussing the draft Declaration on Regional Energy Security, which will be submitted to the Council of Heads of State of the CIS for consideration. A significant part of the meeting was devoted to issues of nuclear energy development, in particular the approval of an action plan for the implementation of the second phase of the Framework Programme for Cooperation in the Peaceful Use of Nuclear Energy for the period 2026-2030. During the event, important documents were also approved, including a comprehensive plan for the prevention and control of particularly dangerous animal diseases, projects on harmonising pricing in the construction industry and developing forestry. The participants reviewed reports on the activities of intergovernmental councils on cooperation in construction and seed production, and discussed issues related to improving the qualifications of specialists in various industries, including the baking industry.
Ashgabat will host an international exhibition on the development of various industries
18.07.2025From 3 to 5 November 2025, an international exhibition and conference entitled ‘Development of Construction, Industrial, Chemical and Energetical sectors of Turkmenistan’ will be held in Ashgabat, in the building of the Chamber of Commerce and Industry of Turkmenistan. This was reported by the press service of the Chamber of Commerce and Industry of Turkmenistan. The aim of the event is to attract foreign investment to strategic sectors of the country's economy and to expand regional and international cooperation. During the forum, leading Turkmen and foreign companies will present the latest technological solutions, equipment and developments in key industries. Participants will have a unique opportunity to showcase their achievements, establish business contacts and exchange experiences.
Turkmenistan will open new opportunities at the TIF investment forum
18.07.2025The Turkmenistan International Investment Forum and Exhibition (TIF) will be held on 18-19 September at the country's Chamber of Commerce and Industry. This was reported by the press service of the Chamber of Commerce and Industry of Turkmenistan. The forum will be a key platform for foreign investors, international financial organisations and companies interested in entering the Turkmen market to meet. Participants will discuss various investment opportunities, ways to accelerate the attraction of foreign direct investment, and prospects for the implementation of joint and regional projects. Special attention will be paid to developing export potential and strengthening cooperation between domestic and foreign entrepreneurs. One of the priority topics will be the digitalisation of the economy and the transition to digital technologies. The exhibition, held in parallel with the forum, will offer an interactive format for presenting the latest achievements in key sectors of Turkmenistan's economy, including industry, agriculture, energy, construction, transport and communications. Visitors will be able to learn about the work of leading national enterprises, innovative technologies and solutions being implemented in the country's economy. The International Investment Forum and Exhibition are designed to strengthen business ties and promote sustainable economic cooperation at the regional and global levels.
Turkmenistan and Korea strengthen partnership in transport infrastructure
18.07.2025The ‘Balkan’ Shipbuilding and Ship Repair Plant has launched a joint project with South Korean company Koryo Shipbuilding Industry Technology Co., Ltd., which will see the construction of two dry cargo ships with a carrying capacity of 6,100 tonnes, according to AsmanNews. The project aims to strengthen Turkmenistan's transport infrastructure and introduce modern foreign technologies into domestic shipbuilding. The work is being carried out using advanced engineering solutions and in compliance with international standards. Cooperation with the South Korean side contributes to the practical application of their technical experience and innovative developments.
Trade turnover between Turkmenistan and Azerbaijan exceeded $118 million in 2025
18.07.2025Trade between Turkmenistan and Azerbaijan reached $118.4 million in January–May 2025, according to the online news resource TerraNews. Of this amount, $19.2 million was exported from Azerbaijan, while imports of Turkmen goods amounted to $99.2 million. Overall, Azerbaijan's foreign trade turnover for the five months grew by 13.7% to $20.9 billion. Exports decreased by 1.2% to $11 billion, while imports increased by 36.5% to $9.9 billion. The trade surplus decreased almost fourfold to $1.03 billion. For comparison, in 2024, trade between the two countries was close to $400 million.
Mitsubishi Heavy Industries signs contract with ‘Türkmenhimiýa’ State Concern
18.07.2025Mitsubishi Heavy Industries Asia Pacific Pte. Ltd. (MHI-AP), a subsidiary of Mitsubishi Heavy Industries, Ltd., has signed a three-year contract with the State Concern ‘Türkmenhimiýa’ for the maintenance of the country's largest fertiliser plant, ‘Garabogazkarbamid’. This was reported by the news agency Orient. Under the agreement, MHI-AP will supply spare parts and consumables for key equipment, including gas turbine generators, compressors and pumps. The work will be carried out in cooperation with Mitsubishi Corporation. According to Takehiko Kikuchi, MHI's regional director for Asia-Pacific and India, the partnership with ‘Türkmenhimiýa’ contributes to the sustainable operation of the plants and is in line with the company's strategy of supporting projects at all stages, from construction to operation. The ‘Garabogazkarbamid’ plant in Garabogaz is the largest urea producer in Central Asia. It was built with the participation of Mitsubishi Corporation (Japan) and Gap İnşaat (Turkey), using technologies from companies in Denmark, Italy and the Netherlands.
Turkish Airlines strengthens cooperation with Turkmenistan
18.07.2025Sinan Dilek, Deputy Chairman of the Board of Turkish Airlines for Central and South Asia, emphasised the strategic importance of Turkmenistan for the airline. This was reported by the news agency Orient. As part of strengthening its position in the region, the company has divided its management of Asian and Far Eastern destinations since September 2024, increasing the number of flights to Ashgabat from 7 to 17 per week. Turkish Airlines is actively developing cooperation with Turkmen partners, including staff training at the company's academy in Istanbul, organising familiarisation and press tours, and supporting local travel agencies. A FAM tour to Cappadocia is planned for 2025. Most of the employees of the Ashgabat office are citizens of Turkmenistan. The company notes their contribution to the development of air transport and corporate culture. S. Dilek, who has been working for Turkish Airlines for more than 13 years, emphasised the importance of developing cultural and business ties and expressed his gratitude for the warm welcome in Turkmenistan.
Deals signed with Azerbaijani entrepreneurs in Turkmenistan
16.07.2025On 15 July, three trade deals worth a total of 33.18 million manats and 55,200 US dollars were signed on the foreign and domestic markets of Turkmenistan. This was reported by the press service of the SCRMET. On the foreign market, entrepreneurs from Azerbaijan bought terry products from Turkmen suppliers. On the domestic market, local entrepreneurs signed a contract with the State Concern ‘Türkmennebit’ for the purchase of polypropylene grade ‘TPP Z 30 G’. In addition, a deal was signed with the Ministry of Textile Industry for the purchase of waste substrate.
Turkmenistan and the Asian Infrastructure Investment Bank discussed prospects for cooperation
16.07.2025Today in Beijing, Turkmenistan's Ambassador Extraordinary and Plenipotentiary to China P. Durdyev met with Jin Liqun, President and Chairman of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB). This was reported by the Foreign Affairs Ministry of Turkmenistan. During the talks, the Head of the AIIB confirmed the bank's interest in expanding cooperation with Turkmenistan and announced plans to participate in the Third United Nations Conference on Landlocked Developing Countries (LLDC 3), which will be held in August 2025 in the ‘Avaza’ National Tourist Zone in Turkmenistan. The bank plans to organise its own exhibition pavilion at the event. The parties discussed promising areas of cooperation, including the implementation of infrastructure projects. The Turkmen delegation presented information on the country's current foreign policy priorities and international initiatives. At the end of the meeting, the Ambassador of Turkmenistan presented the President of the AIIB and the bank's library with a book of selected poems by Magtymguly Pyragy in Chinese, emphasising the importance of the cultural aspect in bilateral relations. The meeting took place in a constructive atmosphere, confirming mutual interest in developing the partnership.
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