Economy
A business forum on developing cooperation with the EU has started in Ashgabat
26.03.2026On 26 March, the business forum ‘New Horizons for Connectivity, Investment and Sustainable Growth’ opened in Ashgabat, bringing together representatives of government bodies, the business sector and international organisations from Turkmenistan and the EU. This was reported by the news website Turkmenportal. The event is taking place at the ‘Ýyldyz’ Hotel with the support of the International Trade Centre (ITC) as part of the EU’s ‘Global Gateway’ initiative. Participants were welcomed by representatives of the Turkmen government, the European Union, the Foreign Affairs Ministry of the country and the ITC. The forum’s programme includes three panel sessions dedicated to improving the business climate, developing transport connectivity and issues relating to the ‘green’ transition. Discussions will focus on trade and investment between the EU and Turkmenistan, the Trans-Caspian Transport Corridor, the digitalisation of logistics, renewable energy and climate finance. It is also planned that an updated protocol to the memorandum of cooperation in the energy sector will be signed during the forum, providing for additional funding of €2 million for the ‘EU for a Green Development in Turkmenistan’ project. The forum venue is hosting B2B and B2G meetings, as well as an exhibition of Turkmen companies and joint projects. The event will conclude with a press conference and an official reception.
Turkmenistan and Azerbaijan are joining forces to develop ‘green’ energy
25.03.2026Turkmenistan and Azerbaijan are interested in developing ‘green’ energy and are ready to undertake joint projects. This was reported by Gurbanmammet Elyasov, Turkmenistan’s Ambassador Extraordinary and Plenipotentiary to Azerbaijan, according to the online publication ‘Business Turkmenistan’. The diplomat noted that the countries are exploring opportunities to expand the use of renewable energy sources, including Turkmenistan’s participation in ‘green’ energy corridors across the Caspian Sea. Azerbaijan could become a transit hub for the export of ‘green’ electricity to Europe. Solar energy in Turkmenistan and wind energy in Azerbaijan, including projects in the Caspian Sea, have been identified as promising areas. Joint energy transmission infrastructure, undersea cables and the integration of systems for electricity exports are also under discussion. Furthermore, the countries see opportunities for cooperation in the production and transport of ‘green’ hydrogen, the introduction of energy-efficient technologies, and the exchange of expertise and investment in renewable energy.
Turkmen engineers are launching equipment production in collaboration with Korean partners
25.03.2026The economic society ‘Amatly çözgüt’ together with its Korean partners is launching the production of modern equipment. All devices will run on software developed by Turkmen specialists, thereby strengthening the country’s engineering capabilities, according to the online publication ‘Business Turkmenistan’. The company has previously implemented projects in the ‘smart’ city of Arkadag, installing CCTV, radar monitoring and traffic light control systems, and also provides maintenance and upgrades for these systems. In collaboration with ‘Ojar Aziýa’, work is underway on the technological aspects of the ‘Serahs–Mary–Serhetabat’ motorway, including weight and dimension control, intelligent video surveillance and digital payments. In the future, it is planned to roll out such solutions to other major roads in Turkmenistan.
Ashgabat and Tashkent plan to expand their joint agricultural projects
24.03.2026Berkeli Berkeliyev, Deputy Minister of Agriculture of Turkmenistan, held a meeting with Ibrohim Abdurahmonov, Minister of Agriculture of Uzbekistan, during the ‘Italy – Central Asia + Azerbaijan’ agribusiness forum in Tashkent. This was reported by the online publication ‘Business Turkmenistan’. The parties discussed bilateral cooperation, including the exchange of experience, the introduction of modern agricultural technologies, the digitalisation of the sector and the training of farmers. Particular attention was paid to cotton seed production, the distribution of varieties across regions, and the use of high-yield crops. The interlocutors emphasised that the implementation of pilot projects to improve farmers’ skills could contribute to increased yields and the expansion of agriculture’s export potential.
Turkmenistan will strengthen regional energy partnerships at the ‘APRECA’ forum
24.03.2026Turkmenistan plans to play an active role in the ‘Accelerated Partnership for Renewable Energy in Central Asia’ Investment Forum (APRECA) in Baku, which could strengthen regional dialogue on the energy transition and facilitate new investment projects, reports the online publication ‘Business Turkmenistan’, citing Director of Country Engagement and Partnerships at the International Renewable Energy Agency (IRENA), Gurbuz Gonul. The forum, which will take place in June 2026 as part of Baku Energy Week, will bring together governments, investors and developers to promote renewable energy projects and the modernisation of electricity grids in the region. According to IRENA, Turkmenistan has high potential for renewable energy: around 300 days of sunshine per year and up to 40% of its territory suitable for wind energy, which opens up opportunities for diversifying the energy mix and participating in the regional energy transition. Cooperation is taking place within the framework of the ‘APRECA’ initiative, which aims to improve the regulatory framework, attract investment and strengthen regional cooperation. Turkmenistan has been a member of IRENA since 2018 and actively participates in its regional projects.
Turkmenistan is preparing to take part in the ‘EXPO 2027’ exhibition in Belgrade
24.03.2026The Ministry of Trade and Foreign Economic Relations of Turkmenistan has re-launched an international tender for the design and construction of the national pavilion for the World Specialised Exhibition ‘EXPO 2027’ in Belgrade. Applications are being accepted until 18:00 on 13 April 2026, according to the news publication ‘Business Turkmenistan’. The issue of preparations for the country’s participation in the exhibition was discussed at a meeting of the Cabinet of Ministers on 13 March. Deputy Chairman of the Cabinet of Ministers Nokerguly Atagulyev reported on the work being carried out to ensure a high level of participation. It is reported that preparations are underway for the construction, equipping and design of the national pavilion. The exhibition will be held under the motto ‘Play for Humanity – Sport and Music for All’.
A Turkmen company supplies denim products to Europe
24.03.2026‘Ayna Denim’ collaborates with the international brands ‘Colin’s’ and ‘Befree’ in the production of denim products. A company representative revealed this to the publication ‘Business Turkmenistan’ at an exhibition in Ashgabat marking the 18th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET). The production facility is located in the UIET industrial zone in the Ak-Bugday etrap of the Ahal velayat. The company employs around 400 staff. The company notes that local raw materials are used in production, and the entire process is organised on a full-cycle basis — from design development to sewing and the final finishing of products. ‘Ayna Denim’s infrastructure includes branches in Istanbul and a retail network in Ashgabat. Branded stores operate in the ‘Garaşsyzlygyň 15 ýyllygy’ shopping centre and the Gurtly residential area. The company also accepts custom orders from 1,000 units of product. The main export markets are Russia and European countries. Poland is among the promising markets. Water-saving technologies and eco-friendly materials are used in production, which helps to reduce the environmental impact.
The Turkmen Stock Exchange conducted 29 transactions over the course of the week
23.03.2026A total of 29 deals were concluded during the week on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the state news agency TDH. Companies from the United Arab Emirates, Afghanistan, Georgia and Uzbekistan purchased polypropylene and base oil produced by the State Concern ‘Türkmennebit’, as well as liquefied gas from the ‘Türkmengaz’ State Concern, in exchange for foreign currency. The total value of export transactions exceeded US$13,889,000. In addition, textile products, including terry and denim fabrics, were sold for export. The buyers were companies from the United Arab Emirates, Kyrgyzstan and Azerbaijan. On the domestic market, entrepreneurs purchased polypropylene, base oil and packaging film produced by ‘Türkmennebit’. The value of the transactions exceeded 26,251,000 manats.
Turkmenistan and China have increased their trade to $10 billion a year
22.03.2026The National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, stated in an interview with ‘CGTN’ that trade turnover between Turkmenistan and China has increased twentyfold since 2007. This was reported by Turkmenportal. According to Hero Arkadag, China remains Turkmenistan’s largest trade and economic partner. The annual volume of mutual trade reaches $9–10 billion. Cooperation covers energy, transport, communications, high technology, as well as the textile and agro-industrial sectors. Cooperation in the oil and gas sector and the prospects for the development of renewable energy were highlighted separately. In the transport sector, as the National Leader emphasised, around 90% of the country’s railway carriages and locomotives are manufactured in China. Cooperation on international transport and transit corridors is also developing, and purchases of Chinese equipment, including buses, are increasing. The potential for expanding trade routes across the Caspian Sea to ports in the Persian Gulf and the Indian Ocean was highlighted. Promising areas mentioned included the agro-industrial complex, urban development, the implementation of ‘smart’ cities, telecommunications and space technologies.
The development of Turkmenistan’s construction and industrial sectors will be discussed in Ashgabat
22.03.2026From 3 to 5 November, Ashgabat will host the International Exhibition and Conference ‘Development of the Construction, Industrial, Chemical, Energy Sectors of Turkmenistan’ (CIET). This was announced by the press office of the Chamber of Commerce and Industry of Turkmenistan. The event aims to attract foreign investment into key sectors of the country’s economy and to develop regional and international cooperation. Exhibitors will present the latest technological solutions and equipment in the fields of construction and industry. The organisers note that the event will serve as a unique platform for companies to demonstrate their potential, exchange experiences and establish new business contacts. Experts emphasise that the initiative also contributes to strengthening Turkmenistan’s international ties and stimulates the introduction of advanced technologies into the national economy.
Turkmenistan is updating its cooperation strategy with the EBRD for 2026–2030
21.03.2026On 20 March, during a government meeting, Rashid Meredov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan and the country’s Foreign Affairs Minister, presented a comprehensive plan to expand cooperation with the European Bank for Reconstruction and Development (EBRD). This was reported by the news agency Orient. The partnership, which began in 1992 and has already seen more than 80 projects implemented, is entering a new strategic phase. This work will be underpinned by a new partnership strategy between Turkmenistan and the EBRD for the period 2026–2030. The document aims to create a sustainable basis for attracting long-term investment in both state infrastructure projects and private sector development. To finalise the strategy, plans are in place to form a special working committee comprising representatives from the country’s financial and economic sector. Particular attention is being paid to the transport and logistics sector. It is envisaged that the bank’s resources will be utilised for the construction and large-scale reconstruction of key rail and road routes. These initiatives will be implemented in close coordination with the European ‘Global Gateway’ strategy, which will enable Turkmenistan to become more actively involved in transcontinental transport corridors. In the coming months, relevant ministries, including the Foreign Affairs Ministry, the Central Bank and State Bank for Foreign Economic Affairs of Turkmenistan, will prepare a detailed work plan for the implementation of these tasks.
Turkmen businesses showcased new brands at the UIET exhibition
20.03.2026A major exhibition showcasing the achievements of the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) took place in Ashgabat at the Chamber of Commerce and Industry. The exhibition featured an updated catalogue of private brands, including contact details, websites and profiles of the country’s leading entrepreneurs. This was reported by the publication ‘Turkmenistan: Golden age’. The exhibition showcased successes in the processing industry and food production. Private enterprises are equipped with modern machinery, supply the domestic market and are actively expanding into export markets. The brand catalogue demonstrates the technological innovation and competitiveness of Turkmen business. The growth in the number of private brands confirms that entrepreneurship has become one of the driving forces of the economy, capable of rapidly introducing innovations and adapting to global trends. The exhibition and the register of manufacturers reflect a new reality in which Turkmen brands are becoming a mark of quality both within the country and beyond its borders.
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