Economy
Turkmenistan and Georgia have outlined plans to develop multimodal transport
01.04.2026On 31 March, as part of an official visit, a Turkmen delegation led by N. Atagulyev, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, held a meeting with the management of the Port of Poti. The meeting was attended by T. Ioseliani, Deputy Minister of Economy and Sustainable Development of Georgia, representatives of ‘Georgian Railway’ JSC, the Maritime Transport Administration and others. This was reported by the publication ‘Turkmenistan: Golden age’. The parties noted the development of Turkmen-Georgian relations and identified transport and logistics as a key area of cooperation. The implementation of the Caspian Sea–Black Sea, Lapis Lazuli and ‘Green Ports’ international corridor projects was discussed. Issues regarding the increase in freight turnover, the development of multimodal transport and the introduction of technologies to speed up the processing of transit cargo were considered. Coordination between rail and maritime operators was addressed separately. The prospects of including the ports of Turkmenbashi and Poti in the ‘East–West’ routes and the exchange of experience in terminal management were also discussed. Opportunities for joint investment projects were considered. Following the meeting, interest in establishing a modern logistics chain to develop interregional links was confirmed. After the negotiations, the delegation visited the ports of Poti and Anaklia and familiarised themselves with their infrastructure and operational capabilities.
The Port of Turkmenbashi is strengthening its role in international transport routes
01.04.2026On 27 March, a meeting was held at the Turkmenbashi International Sea Port between the leadership of Turkmenistan’s State Service for Maritime and River Transport and the port administration, and a European Union delegation led by Charlotte Adriaen, Head of the Central Asia and Afghanistan Unit. This was reported by the online publication ‘Business Turkmenistan’. The parties discussed the development of the Trans-Caspian Transport Corridor and the strengthening of the port’s strategic role. The European delegation was shown the port’s modern facilities, cargo flow routes and European-made equipment. Discussions covered projects at the ‘Balkan’ shipbuilding and ship repair yard, international tenders for new vessels, and Turkmenistan’s steps towards acceding to the International Maritime Organisation’s (IMO) FAL Convention to streamline maritime transport. The Turkmen side noted the procurement of new dredgers and the construction of similar vessels at the ‘Balkan’ shipyard. Charlotte Adriaen emphasised the strategic importance of the port as a key hub in international transport corridors.
The Deputy Prime Minister of Turkmenistan held negotiations with the Georgian Minister of Economy
31.03.2026On 30 March, during an official visit, Nokerguly Atagulyev, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, met with Mariam Kvrivishvili, Minister of Economy and Sustainable Development of Georgia. This was reported by the news agency ‘Turkmenistan: Golden age’. The parties discussed the current state and prospects of bilateral economic cooperation, paying particular attention to the development of trade, the attraction of mutual investment and the implementation of joint projects. Separate mention was made of the interest in expanding cooperation in the fields of energy, transport, the digital economy and innovation. The interlocutors also emphasised the important role of the Turkmen-Georgian Inter-governmental Commission on Economic Cooperation in developing systematic dialogue and implementing the agreements reached. Following the negotiations, the parties confirmed their intention to further strengthen bilateral cooperation and maintain a constructive dialogue.
Turkmenistan and Japan discussed cooperation in the field of waste management
31.03.2026A meeting between representatives of Japanese companies, relevant Turkmenistan government departments and waste management experts took place at the ‘Arçabil’ Hotel in Ashgabat. The meeting focused on cooperation between the state, academia and business in the field of environmental protection, reports IIC. The event was opened by Hiroshi Sasaki, Ambassador Extraordinary and Plenipotentiary of Japan, and Hidehiko Ishii, Head of Department at the Japanese Ministry of Economy, Trade and Industry. The keynote address was delivered by Koji Arizono, Honorary Professor at Kumamoto Prefectural University. The main topics were Turkmenistan’s state policy on waste management and the potential for applying Japanese technologies. The parties discussed cooperation with Japanese companies and the integration of environmental solutions into production processes. The meeting concluded with the identification of priority areas for further partnership.
53 transactions were concluded on the SCRMET in the domestic and foreign markets
31.03.2026Last week, 53 transactions were conducted on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by TDH. Foreign buyers from the UAE, Turkey, Afghanistan, Georgia and Uzbekistan purchased polypropylene, base oil and motor petrol produced by the State Concern ‘Türkmennebit’. Businessmen from Singapore purchased urea from the ‘Türkmenhimiýa’ State Concern. Wheat flour, plain-dyed and jacquard terry products, terry cloth, medical cotton wool, cotton buds and cotton yarn were also sold for foreign currency. Purchasing countries: UAE, Turkey, Azerbaijan. The total value of export transactions exceeded US$350.7 million. On the domestic market, local businesses purchased polypropylene, base oil, furnace fuel and packaging film (‘Türkmennebit’ State Concern), as well as wheat flour. The value of domestic transactions amounted to 269 million 30 thousand manats.
Turkmenistan is strengthening its trade partnership as part of the TFCA project
30.03.2026A meeting of the Steering Committee for the implementation of the TFCA Regional Project, carried out by GIZ on the initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ), took place in Turkmenistan. The event was held under the Memorandum of Understanding signed with the country’s Ministry of Trade and Foreign Economic Relations in March 2024, reports IIC. The meeting served as a platform to review the work carried out in 2024–2025 and to define cooperation priorities within the TFCA and TCTC projects up to 2029. Representatives of relevant ministries and agencies of Turkmenistan, as well as project managers, took part in the discussions. Particular attention was paid to the establishment of an Inter-ministerial Working Group on the simplification of trade procedures, which receives advisory support from GIZ. This group will help to speed up trade operations, increase transparency and reduce administrative barriers, which directly supports the growth of trade turnover and the country’s economic development. During the meeting, participants discussed the results achieved and outlined key activities for the coming period. The meeting was attended by Nazar Agahanov, Minister of Trade and Foreign Economic Relations of Turkmenistan, and Joachim Fritz, GIZ Coordinator in Turkmenistan.
A working mission on the TCTC program took place in Turkmenistan
29.03.2026In Tashkent in November 2025, the European Union, GIZ, and Expertise France signed a tripartite agreement to launch the Trans-Caspian Transport Corridor (TCTC) Capacity Development Program, the IIC reports. The program aims to enhance the efficiency and sustainability of the TCTC — a route connecting Central Asia with Europe. The initiative’s goal is to establish a predictable and competitive transport corridor that promotes economic growth and regional development. The program is scheduled for implementation from 2026 to 2029 and is carried out by GIZ in partnership with Expertise France. From March 24 to 27, 2026, a working mission took place in Turkmenistan, led by Asel Uzagalieva, Deputy Head of the “Trade Facilitation in Central Asia” (TFCA) project. The delegation included representatives from Expertise France. The purpose of the visit was to meet with public and private institutions to identify priority activities. Discussions were held with the Ministry of Trade and Foreign Economic Relations, the Ministry of Finance and Economy, the State Plant Quarantine Service, the Ministry of Agriculture, the Turkmenistan Transport and Logistics Center (TULM), as well as the Union of Industrialists and Entrepreneurs of Turkmenistan. The delegation also visited the Turkmenbashi International Sea Port and met with representatives of the State Maritime and River Transport Service and the port management to discuss further cooperation.
A protocol has been signed to the memorandum between Turkmenistan and GIZ
29.03.2026Turkmenistan’s Minister of Trade and Foreign Economic Relations, Nazar Agakhanov, and GIZ Coordinator in Turkmenistan, Joachim Fritz, signed a protocol amending the Memorandum of Understanding from March 2024, the IIC reports. The document provides for the continued implementation of the Trans-Caspian Transport Corridor Capacity Development Program in Turkmenistan. The program was launched following the International Investors Forum on the Trans-Caspian Transport Corridor held in Tashkent in November 2025. At that time, the European Union, Germany, and France signed a tripartite agreement on its implementation. The initiative aims to enhance the efficiency and sustainability of the transport route connecting Central Asia and Europe. The program’s implementation in the region is scheduled for 2026–2029. The project will be carried out with financial support from the EU, Germany, and France, with the involvement of GIZ and Expertise France.
The marketplace Ozon has entered the Turkmenistan market
28.03.2026The Russian marketplace Ozon has launched sales for residents of Turkmenistan. The platform ozon.tm offers over 150 million products, including children’s goods and household appliances, reports Turkmenportal. In the first phase, delivery is available only in Ashgabat through “Turkmenpochta” branches. The delivery time is approximately ten days. In April, the company plans to expand to other regions and introduce courier delivery. Ozon CIS CEO Natalia Boer highlighted the potential of the e-commerce market in Turkmenistan and stated that the service will become a convenient tool for everyday shopping.
Turkmenistan's foreign trade turnover with the EU reached 2.1 billion dollars
28.03.2026On March 26, a business forum titled "Turkmenistan – European Union" was held in Ashgabat. The event brought together over 200 delegates, including representatives from government bodies, businesses, and international financial institutions. The discussions focused on trade development and expanding economic cooperation, according to the publication “Turkmenistan: Golden Age”. The forum paid particular attention to the investment climate and integration with the European market. Turkmenistan’s Minister of Finance and Economy, Mammetguly Astanagulov, highlighted the strategic nature of the country’s engagement with the EU. He stated that cooperation spans trade, energy, transport, environmental, and humanitarian sectors. He also noted that Turkmenistan maintains economic ties with most EU countries. In 2025, the country’s foreign trade turnover reached approximately $2.1 billion. Cooperation is implemented through regional programs, country-specific projects, and financial agreements. Following the forum, participants reaffirmed their readiness to further develop the partnership and discuss priority areas of collaboration.
Turkmenistan offers foreign investors preferential profit tax rates
27.03.2026At the “Turkmenistan – EU” business forum, Deputy Minister of Finance and Economy Babanyaz Yalakov presented the country’s investment climate. Foreign investors are offered a profit tax of 8%, or 2% if calculated based on revenue, according to Infoportal. The fiscal system has remained stable for over 20 years: six basic taxes with fixed rates, a property tax of 1%, and a personal income tax of 10%. Agricultural enterprises are exempt from most taxes. A preferential profit tax rate applies to both private and foreign capital. State loans are provided at 5% per annum for up to 10 years; for agricultural producers, the rate is 1% per annum for up to 7 years. Turkmenistan is establishing free economic zones along its borders with neighboring countries. The free trade zone with Uzbekistan has already increased trade turnover between the two countries. In 2025, the third phase of the Ashgabat–Turkmenabat highway is planned to open, strengthening transport links with Uzbekistan. The Deputy Minister highlighted the country’s transit potential as a competitive advantage. Turkmenistan has seven international airports and participates in the East–West, North–South, and Azure corridors connecting Afghanistan and Turkey. In terms of integration into the global trade system, work continues on joining the WTO and adapting national legislation to its standards. International assessments of the country are improving: in July 2025, Fitch confirmed Turkmenistan’s credit rating at “B-” with a positive outlook, and the World Bank included the republic in the Business Ready system for assessing the business climate.
Turkmenistan is strengthening its energy sector and expanding its exports
26.03.2026Turkmenistan’s energy strategy is based on diversification: the country is expanding its exports of high-tech products and electricity. Investments in the sector have increased production capacity, enabling the country to meet domestic demand and boost exports. Turkmenistan is becoming an important energy hub for Central and South Asia, promoting regional integration and cooperation, reports TDH. As part of the modernisation programme, new gas-turbine power stations, power transmission lines, distribution stations and substations have been built. A major project to integrate the power grid into a single ring includes the Ahal–Balkan line (started in 2021), Mary–Ahal (completed in 2023) and Balkan–Dashoguz (commissioned in 2024). This ensures the redistribution of electricity and a stable power supply to industry and the population. The country is introducing the latest technologies and cooperating with international companies. A 1,574 MW combined-cycle power station is under construction in the Balkan velayat, which will strengthen energy security, open up new export routes and increase electricity supplies to neighbouring states. Combined-cycle power stations also comply with environmental standards. Turkmenistan is implementing ISO 14001, automated air monitoring and localised production of transformers and cable products. Existing power stations, including the Mary Hydroelectric Power Station, are being modernised, and solar and wind power stations (e.g., Gyzylarbat, 10 MW) are being built to ensure stable energy production. Joint projects with ‘General Electric’ and ‘Sumitomo Corporation’ are enabling the implementation of ‘smart grid’ technology and microprocessor-based substation protection. The new gas turbine plant at the Lebap Hydroelectric Power Station (432 MW) has strengthened integration into the global power system and expanded export opportunities. Environmental technologies are being developed, and CO₂ and NOₓ emissions are being reduced. The electricity supply along the route of the ‘Turkmenistan–Afghanistan–Pakistan–India’ gas pipeline is creating conditions for industrial investment in Afghanistan. Turkmenistan’s system is integrated into the unified energy system of Central Asia, which strengthens regional stability. The State Energy Institute provides training for specialists, whilst technical maintenance is carried out by the Repair Centre in the Büzmeyin etrap. The Centre services ‘General Electric’ gas turbines and modern equipment in accordance with international standards. Turkmenistan utilises the low cost of electricity generated from natural gas to invest in socio-economic and high-tech sectors. Renewable energy sources are being developed – solar panels and mobile wind turbines provide energy for settlements and pastures. Hydrogen is regarded as a key resource for the future. Turkmenistan, which has large gas reserves, is developing the hydrogen sector and establishing a cluster and centre at the Yagshygeldi Kakayev International University of Oil and Gas for research and the production of ‘green’ and ‘blue’ hydrogen. Joint pilot projects are being implemented with companies from Japan and Europe. Turkmenistan’s energy diplomacy is strengthening the country’s position on the international stage. Initiatives for the reliable transit of energy resources are supported by the UN General Assembly, confirming the state’s role as a stabiliser of the regional energy market.
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