Economy
Turkmenistan launches new phase of customs development initiative
30.08.2025On 29 August, Turkmenistan, in cooperation with the United Nations Conference on Trade and Development (UNCTAD), launched the third phase of its national customs modernisation programme. This was reported by IIC. The project aims to speed up customs procedures, increase transparency and strengthen the country's position as a key transit hub in the region. The main element of this phase will be the introduction of the ASYCUDA automated customs data system. At the same time, specialists are being trained so that they can manage the system independently. In addition, the modernisation includes developing the capacity of customs and border services, introducing risk-based controls, improving the classification and valuation of goods, and transitioning to electronic document management.
Turkmenistan has concluded five trade deals worth 6.25 million manats
28.08.2025On 27 August, five deals worth 6.25 million manats and 452,300 dollars were concluded at the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the press service of the SCRMET. Afghan companies purchased food-grade sodium chloride from the ‘Türkmenhimiýa’ State Concern, while Serbian companies agreed with the Ministry of Health of Turkmenistan on the supply of liquorice root extract. On the domestic market, Turkmen companies purchased viscous road bitumen grade BND 60/90 from ‘Türkmennebit’. The deals highlight the growth in exchange activity and the expansion of export destinations for Turkmen producers.
Registration for the CIET 2025 conference has begun in Ashgabat
28.08.2025Registration has begun in Ashgabat for participants in the International Conference on the ‘Development of the Construction, Industrial, Chemical and Energy Sectors of Turkmenistan’ (CIET 2025). This was reported by the news website Turkmenportal. The event, scheduled for early November, will serve as a platform for discussing cross-sectoral innovations, investment projects and opportunities for cooperation in the field of sustainable development. CIET 2025 will continue the tradition of the 2024 conference, which brought together more than 450 delegates from 50 countries, including representatives of ‘Çalık Holding’, ‘Rönesans Holding’, ‘Daewoo E&C’, ‘Mitsubishi’ and ‘Gertner Group’. The forum programme includes an international exhibition of technological solutions, plenary sessions on digitalisation and sustainable development, as well as B2B and B2G meetings for establishing business contacts. Special attention will be paid to the training and development of young professionals.
Border trade between Turkmenistan and Iran will gain new momentum
27.08.2025Iran intends to create a joint border market with Turkmenistan to attract investment. This was announced at a press conference by the Governor of North Khorasan, Bahman Nouri, according to the online publication ‘Business Turkmenistan’. In March 2025, representatives of the two countries' government agencies discussed the construction of a trade zone on the border. According to the parties' plan, the project should contribute to the development of cross-border trade and strengthen economic cooperation. Turkmenistan and Iran also plan to build two new railway lines in the Sarahs border crossing area, which will increase transport volumes.
Fitch Ratings has given a consistent outlook for Turkmenistan's credit rating
26.08.2025One of the leading international rating agencies, Fitch Ratings, has affirmed Turkmenistan's foreign currency credit rating at ‘BB-’ with a consistent outlook. This was reported by the online publication Business Turkmenistan. In justifying their decision, the agency's analysts noted the country's strong sovereign balance sheet compared to other countries in the ‘BB’ and ‘B’ rating categories. Experts emphasised that Turkmenistan has a high ratio of net foreign assets to GDP and a low level of public debt. An important factor in the stability of the economy is the country's vast natural gas reserves. According to analysts' forecasts, by 2027, Turkmenistan's net foreign assets will reach 50.8% of GDP. The country's foreign exchange reserves are recognised as among the highest in the Central Asian region, covering more than 52 months of external payments. Natural gas continues to dominate exports, accounting for 67% of total exports to foreign countries in 2024. A significant portion of gas exports (88%) was directed to the Chinese market. Negotiation is currently underway on the construction of a fourth branch of the gas pipeline to China.
Turkmenistan may become a supplier of ferries to Uzbekistan
26.08.2025Uzbekistan is considering purchasing ferries from a Turkmen shipyard, according to Uzbekistan's Minister of Transport Ilhom Mahkamov, as reported by the Orient news agency. According to the Minister, having its own fleet will help speed up cargo transportation across the Caspian Sea, where delays currently reach 30-40 days. I. Mahkamov emphasised the importance of Turkmenistan and Azerbaijan for the development of the Middle Corridor, where they provide transportation across the Caspian Sea due to their port infrastructure. At the trilateral summit of Turkmenistan, Uzbekistan and Azerbaijan, a Memorandum of Cooperation in the transport and logistics sector was signed, including the creation of joint ventures and privileges for cargo transportation. A Memorandum of Cooperation in shipbuilding was also signed in Ashgabat between Ilhom Mahkamov and Deputy Chairman of the Cabinet of Ministers of Turkmenistan Mammethan Chakiyev. Uzbekistan intends to use ferries to increase transport volumes across the Caspian Sea. In addition, the parties agreed to develop cooperation in the field of civil aviation: a Protocol was signed on the launch of direct flights between the two countries.
Turkmenistan's attractions have become part of a new international tourist circle
25.08.2025A cross-border tourist route connecting Turkmenistan, Khorezm, Karakalpakstan and Kazakhstan has been launched in Central Asia. This circular route includes visits to unique cultural, historical and natural attractions in the four regions, offering travellers new opportunities for educational travel. This was reported by IIC. The route was developed in accordance with the Decree of the President of Uzbekistan on measures to develop tourism in 2025–2026. The Tourism Committee, together with private partners, paid special attention to creating convenient logistics and a diverse programme. Travellers are offered various types of tourism, including gastronomic tourism with tasting of national dishes, ecotourism with an introduction to natural landscapes, ethnographic tourism with immersion in traditions and crafts, as well as pilgrimage tourism with visits to holy sites. There are over 15 UNESCO World Heritage Sites and monuments of national importance along the route. Key points include ancient Merv and Kunya-Urgench in Turkmenistan, Ichan-Kala in Khorezm, museums and fortresses in Karakalpakstan, and the picturesque landscapes of Mangistau in Kazakhstan. The new tourism product aims to develop cultural and humanitarian exchanges between countries in the region and is designed to become an attractive destination for various categories of travellers.
Delegation from Turkmenistan participates in World Women Entrepreneurs Forum
25.08.2025The World Women Entrepreneurs Forum (WWEF) is being held in the Mongolian capital Ulaanbaatar on 25-26 August under the patronage of Mongolian President Ukhnaagiin Khurelsukh. The event brought together more than 200 participants from 25 countries, including a delegation from Turkmenistan, which included well-known representatives of women's entrepreneurship in the country. This was reported by IIC. The Turkmen delegation is represented by the founder and director of the private enterprise ‘Mähirli zenan’ Ayna Durdylyeva, the head of the shoe production “Gerçek” Ayhan Rejepova, as well as the designer and director of the private enterprise ‘Jennet tagty’ Jennet Agayeva. All members of the delegation are active participants in the Union of Women of Turkmenistan, one of the country's largest public organisations, which plays an important role in the implementation of reforms initiated by the National Leader of the Turkmen people, Gurbanguly Berdimuhamedov, and continued by the President of Turkmenistan, Serdar Berdimuhamedov. The forum is being held under the slogan ‘Inspire – Impact – Invest,’ focusing on expanding women's participation in the economy, investment and digital transformation of business. The programme includes panel discussions, seminars, B2B meetings and an exhibition-fair of products made by women entrepreneurs, with the participation of more than 140 small and medium-sized companies.
Turkmenistan invited to Telecom International Asia-2025
25.08.2025Telecom International Asia-2025 (ITCN Asia) is the largest technology event in the region, which will take place from 23 to 25 September in Karachi (Pakistan). This was reported by the news website Asmannews. The event is organised by Ecommerce Gateway Pakistan (Pvt.) Ltd. The event will bring together leading IT companies, start-ups and representatives of the public and private sectors. The venue will showcase solutions in the fields of public services, cloud technologies, cyber security, data centres, ERP systems, education, finance, healthcare, pharmaceuticals, e-commerce and artificial intelligence. The programme includes an exhibition, conferences and specialised sessions for exchanging experiences, networking and finding business partners. ITCN Asia is considered Pakistan's largest technology platform with annual international participation.
Construction of an iodine plant is planned in Turkmenistan
25.08.2025In Turkmenistan, there are plans to build a plant for the production of iodine, bromine and bromine-containing products based on the West Cheleken deposit (Hazar site) with the modernisation of the raw material base of the Balkanabat iodine plant. This was reported by the news website Turkmenportal. The State-owned Concern ‘Türkmenhimiýa’ has announced an international tender for the design and construction of the plant. To participate, it is required to submit a written application with the name of company, legal status, country of registration and details, and buy a set of tender documents. Proposals will be accepted within 30 working days from the date of publication of the announcement after confirmation of payment.
The ‘Kids Expo: Everything for Children’ exhibition was held in Ashgabat
25.08.2025The International Exhibition and Fair ‘Kids Expo: Everything for Children’ was held in Ashgabat, organised by TurkmenExpo and the Chamber of Commerce and Industry of Turkmenistan. This was reported by the IIC of Turkmenistan. Over the course of three days, leading brands presented their products and services, and guests noted the high level of organisation and diversity of the exhibits. According to the results of the traditional SMS vote for the best pavilion, the winner was the ‘Balam’ brand, with ‘Nestlé’ taking second place. The final day of the exhibition included concerts for children, performances by entertainers and a robot competition. The exhibition reinforced its status as one of the region's major events in the field of children's goods and services, leaving visitors with many vivid impressions.
The TIF-2025 investment forum will look at the prospects for the Trans-Caspian route
24.08.2025The upcoming TIF-2025 International Investment Forum in Turkmenistan, which will take place on 18–19 September, will be largely devoted to the prospects for the development of the Trans-Caspian International Transport Route (TITR). This was reported by IIC. The multimodal corridor, which combines rail, sea and road transport, serves as a key link between Central Asia and Europe. Turkmenistan plays a central role in this project, actively modernising port facilities in Turkmenbashi and introducing digital solutions to simplify trade procedures. The TIF-2025 forum plans to discuss a wide range of investment opportunities and cooperation projects aimed at developing the TITR infrastructure, introducing advanced technologies in logistics and forming sustainable supply chains. It is expected that the further development of this route will contribute to strengthening regional integration, stimulating economic growth and opening up new prospects for international investors.
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