Economy
Head of Daewoo E&C reviews new projects in Turkmenistan
03.07.2025The Chairman of the Board of Directors of the Korean company ‘Daewoo Engineering & Construction Co., Ltd’, Jung Won-ju, visited Turkmenistan from 26 to 30 June to discuss expanding business cooperation and strengthening the company's position in Central Asia, according to a statement by the company, as reported by the news website Asmannews. In Ashgabat, he held meetings with the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov and President of Turkmenistan Serdar Berdimuhamedov, confirming his commitment to completing the project to build a mineral fertiliser plant in Turkmenabat. The possible participation of ‘Daewoo Engineering & Construction Co., Ltd.’ in projects for the development of gas fields, petrochemicals, transport and construction was also discussed. The company stated that it considers Turkmenistan a strategically important market and intends to intensify localisation and expand its presence in the region.
Turkmenistan and China strengthen agricultural cooperation
02.07.2025On 1 July, talks were held at the ‘Archabil’ Hotel in Ashgabat between representatives of the Ministry of Agriculture of Turkmenistan and a delegation from the Xinjiang Uygur Autonomous Region of the People's Republic of China. The Chinese side was led by Deputy Chairman of the People's Government Wang Gang. During the meeting, the parties discussed prospects for expanding cooperation in agriculture, with particular emphasis on the exchange of modern technologies and best practices. This was reported by the IIC. The delegates discussed issues related to the supply of agricultural machinery, improving methods for storing raw cotton and modernising cleaning lines. During the visit, Chinese representatives also held working meetings with the leadership of the International Scientific-Technological Park of the Academy of Sciences of Turkmenistan and the ‘Turkmenpagta’ National Concern. Particular attention was paid to the development of joint projects in the context of the ‘Belt and Road Initiative’. The parties emphasised the strategic importance of Xinjiang as a key logistics hub for cooperation with Central Asian countries. Following the talks, an agreement was reached to hold regular consultations and intensify the exchange of experience in the fields of agriculture, scientific research and technological development. These steps will contribute to further strengthening the mutually beneficial partnership between Turkmenistan and China.
Turkmenistan participates in WTO seminar on sanitary measures
02.07.2025From 1 to 3 July 2025, Vienna will host a regional seminar of the World Trade Organisation on the Agreement on Sanitary and Phytosanitary Measures (SPS). The event is organised by the WTO Secretariat in cooperation with the Joint Vienna Institute as part of the technical assistance programme for 2024–2025. This was reported by IIC. The main objective of the seminar is to increase the involvement of countries in Central and Eastern Europe, Central Asia and the Caucasus in the work of the WTO, as well as to deepen understanding of the SPS Agreement. The discussions will cover issues of transparency of measures, the activities of the WTO Committee on SPS, as well as current initiatives of international organisations, including the International Plant Protection Convention (IPPC), the World Organisation for Animal Health (WOAH) and the Codex Alimentarius Commission. Turkmenistan is represented at the seminar by experts from the State Veterinary Service, the Ministry of Health, the Ministry of Finance and Economy, and the Main State Service ‘Turkmenstandartlary’. Arslan Soltanmyradov, Head of the International and Scientific Relations Department of the State Veterinary Service, delivered a welcoming speech at the opening ceremony. He emphasised Turkmenistan's commitment to fulfilling its international obligations in the field of SPS measures, the importance of cooperation with relevant organisations and the need to strengthen technical capacity to improve the national control system. Participation in the seminar allows the Turkmen delegation to discuss current aspects of the implementation of the SPS Agreement, exchange experiences with colleagues from other countries and explore opportunities for expanding international cooperation.
‘Dayhanbank’ leads in the number of bank cards in Turkmenistan
01.07.2025According to a report by the Central Bank of Turkmenistan, the State Commercial Bank ‘Dayhanbank’ remains the leader in terms of the number of payment cards issued, which exceeded 2.1 million. This was reported by the online publication Terra-News. Second place is occupied by the State Commercial Bank ‘Turkmenistan’ with more than 1.1 million cards issued, and the top three is rounded out by ‘Halkbank’ with over 824,500 cards. The geographical distribution of card issuance shows that ‘Dayhanbank’ is actively operating in the regions, especially in the Mary, Dashoguz and Lebap velayats. Meanwhile, ‘Turkmenistan’ Bank and ‘Halkbank’ mainly serve customers in the country's capital. The Central Bank's data reflects the dynamics of the development of non-cash payments and the expansion of banking services in various regions of Turkmenistan.
23 transactions were concluded on the Turkmenistan Stock Exchange
01.07.2025Last week, 23 deals were concluded on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the state news agency TDH. Foreign companies from the United States, the United Arab Emirates, Singapore, Afghanistan and Uzbekistan purchased aviation and lighting kerosene, gasoline, road bitumen, diesel fuel and cotton yarn worth more than $5 million. For the domestic market, Turkmen entrepreneurs purchased polypropylene, bitumen, packaging film, sheet glass and cotton fabric for a total of 29.833 million manats.
A large incubator complex has begun operations in Turkmenistan
29.06.2025The ‘Nurly meýdan’ farm in the Baherden etrap has achieved significant success in the development of Turkmenistan's agro-industrial complex. The new hatchery complex is capable of producing up to 12 million chicks annually, which significantly strengthens the country's potential in the field of poultry farming. This was reported by the IIC. The modern poultry complex, covering an area of 10 hectares, is designed to produce 8-16 million eggs per year, with a current daily output of 4,000 eggs. Products under the ‘Nurly meýdan’ brand are already being supplied to retail chains, providing the population with high-quality products. In addition, a feed mill with a capacity of 10 tonnes per hour operates on the site, producing hay and mixed feed for farm animals. This ensures that poultry and livestock are fully fed, reducing dependence on imports. The development of ‘Nurly meýdan’ contributes to food security, the introduction of modern technologies and the creation of new jobs, demonstrating the successful implementation of the state strategy in the agro-industrial sector.
Head of Turkmenistan Customs Service Meets with WCO Secretary General
28.06.2025During a working visit to Brussels, the Chairman of the State Customs Service of Turkmenistan, Maksat Hudaykuliev, met with the Secretary General of the World Customs Organisation (WCO), Ian Saunders. The meeting was also attended by Sapar Palvanov, Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Belgium, according to the news website Turkmenportal. M. Hudaykuliev confirmed his desire to expand cooperation with WCO, including projects on risk management and staff training. Special attention was paid to the training centre at the State Customs Service, which has been granted the status of a regional training centre. The ambassador conveyed official invitations to the Secretary General of the WCO to attend the Third UN Conference on Landlocked Developing Countries and the High-Level Dialogue on Peace. The Secretary General of the Organization accepted both invitations and confirmed his participation in the August forum. In addition, Mr. Saunders noted Turkmenistan's contribution to the development of the customs sector.
Turkmenistan and UKEF discuss prospects for economic cooperation
28.06.2025On 27 June 2025, a working meeting was held at the Ministry of Foreign Affairs of Turkmenistan between Deputy Minister of Foreign Affairs M. Byashimova and a delegation from the British export finance agency UK Export Finance (UKEF), led by Regional Director for Turkey, Eastern Europe and Central Asia Shebnem Alp. This was reported by the Foreign Affairs Ministry of Turkmenistan. During the talks, the interlocutors discussed topical issues of bilateral cooperation in the trade, economic and investment spheres. Particular attention was paid to specific infrastructure and export-oriented projects of mutual interest. Deputy Minister M. Byashimova noted the significant potential for expanding partnership between Turkmenistan and the United Kingdom in the context of sustainable economic development. In turn, UKEF representatives expressed their readiness for further dialogue and the search for effective mechanisms for implementing joint initiatives. At the end of the meeting, the parties confirmed their mutual interest in strengthening cooperation and agreed to continue working on the implementation of promising projects.
Ashgabat will host OGT 2025 International Conference and Exhibition
27.06.2025The 30th International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2025’ (OGT 2025) will be held in Ashgabat from 22 to 24 October. This was reported by the news agency ‘Turkmenistan: Golden age’. The conference, themed ‘Energy. Innovation. Development,’ is expected to bring together participants from more than 60 countries. The focus will be on international partnerships in sustainable development, investment in the oil and gas sector, energy transition, ecology, and the application of AI in hydrocarbon production. Turkmenistan, which is actively adapting to the global energy transition, offers investors projects ranging from the development of the Galkynysh field to the development of solar and wind energy. Participants will be presented with updated information on key initiatives: the development of Galkynysh, the TAPI gas pipeline, investments in the Caspian region, the expansion of gas exports, refining and petrochemicals, as well as methane emissions reduction and renewable energy projects at Lake Altyn Asyr.
Modernisation of ‘Temir Baba’ will optimise traffic on the border with Turkmenistan
27.06.2025By the end of 2025, a modernised ‘Temir Baba’ road border crossing point is planned to be put into operation on the border between Kazakhstan and Turkmenistan. This was reported by the online publication ‘Business Turkmenistan’. The reconstruction of the checkpoint is being carried out as part of a national project to develop Kazakhstan's transit potential, which was launched in 2018. Particular attention is being paid to the modernisation of checkpoints on the external borders with China, Uzbekistan and Turkmenistan. The project aims to speed up border crossings, ensure security, improve logistics and increase comfort. The checkpoints will be equipped with modern technology and adapted to the increasing volume of freight and passenger traffic. In 2025, the modernisation of the ‘Kaplanbek’, ‘Atameken’’, Kolzhat’ and ‘Alakol’ checkpoints has already been completed. By the end of the year, ‘Kazygurt’, ‘Tazhen’, ‘Temir Baba’, ‘Maykapchagay’ and ‘Bakhty’ are planned to be put into operation. In addition, the possibility of resuming direct air service between Ashgabat and Almaty next year is being considered.
Turkmenistan and Astrakhan develop trade cooperation
25.06.2025Trade and economic ties between Turkmenistan and Russia's Astrakhan Region continue to strengthen. ‘Grand Fish’ has begun exporting fish products to Turkmenistan and intends to increase the volume of supplies. This was reported by the news website Asmannews. Earlier, in April, Turkmen textile companies presented their products in Astrakhan and discussed prospects for further supplies. Turkmenistan is a leading producer of natural textiles in Central Asia, which is of great interest to Russian partners. The international exhibition ‘TurkmenTextile Expo – 2025’ was also held in Ashgabat, attended by a delegation from the Astrakhan company ‘Radmar’, which established new business contacts. The expansion of mutual cooperation contributes to the diversification of Turkmenistan's foreign economic relations and opens up additional opportunities for business on both sides.
The Foreign Affairs Ministry of Turkmenistan hosted a round table to mark the 25th anniversary of cooperation with the ADB
25.06.2025On 24 June 2025, an event was held at the Ministry of Foreign Affairs of Turkmenistan to mark the 25th anniversary of the partnership between Turkmenistan and the Asian Development Bank (ADB). The roundtable meeting was attended by high-ranking representatives of the Turkmenistan Government, Deputy Chairmen of the Cabinet of Ministers, heads of key ministries and departments, and a delegation from the Asian Development Bank led by Vice President Yang Yingming. This information was announced by the Ministry of Foreign Affairs of Turkmenistan. In his speech, Deputy Prime Minister Hojamyrat Geldimyradov highlighted the ADB's significant contributions to the development of Turkmenistan's economy, particularly in strategic sectors such as energy, transportation, and urban development. ADB Vice President Yang Yingming emphasised the strong trust-based relationship between the institution and Turkmenistan, as well as the importance of the recent meeting with President Serdar Berdimuhamedov. The event also highlighted promising joint projects, including the development of the Arkadag smart city. Participants discussed the implementation of the Memorandum of Understanding signed in May 2025 between the Arkadag Construction State Committee and the ADB.
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