Economy
Deals worth over $4.5 million were concluded at the SCRMET of Turkmenistan
12.05.2025Last week, 31 deals totalling over $4.5 million and 88 million manats were concluded on the platform of the State Commodity and Raw Materials Exchange of Turkmenistan. This is reported by the State News Agency ‘Turkmenistan Today’. Businessmen from the UAE, Turkey and Afghanistan bought oil products - road bitumen, lighting paraffin, base oil produced by Türkmennebit for foreign currency. Business representatives from Afghanistan also purchased sodium chloride and liquefied gas from "Türkmenhimiýa" and "Türkmengaz" SCs. Cotton yarn was exported to the UAE and Kyrgyzstan. In the domestic market, Turkmen businessmen purchased oil road bitumen and textile products (terry products, cotton yarn and fabric). The total amount of domestic transactions exceeded 88 million manats, which indicates consistent demand for the products of national enterprises both in the foreign and domestic markets.
Turkmen entrepreneurs have entered into agreements with businessmen from Turkey and the UAE
11.05.2025On Saturday, 10 May, entrepreneurs from Turkey and the United Arab Emirates concluded deals with representatives of business circles of Turkmenistan on the foreign market. This was reported by the Internet news resource TerraNews. Foreign companies purchased road bitumen of BND 60/90 grade, as well as lighting paraffin of KO-20 grade from the State Concern ‘Turkmennebit’. In addition, in the domestic market, Turkmen entrepreneurs signed a contract with the same concern for the supply of road bitumen of the same brand. As a result of the bidding, three contracts were concluded for a total amount of $3,417,000 and 750,000 manat.
In Turkmenistan, the oil production plan has reached figures of 107.9%
10.05.2025During the regular meeting of the Cabinet of Ministers of Turkmenistan, Deputy Chairman of the Cabinet of Ministers Batyr Amanov presented a report on the work of the oil and gas industry of Turkmenistan for the first four months of 2025. This is reported by the state news agency TDH. According to the Deputy Prime Minister, the State Concern ‘Türkmennebit’ has achieved 107.9 per cent in oil production and 105.9 per cent in oil refining. The plan for the production of petrol was fulfilled by 102.3%, diesel fuel - by 100.8%, lubricating oils - by 110.4%, liquefied gas - by 111.7%. Also, the plan for the production of natural and associated gas reached 103.5 per cent. Having heard the report, President of Turkmenistan Serdar Berdimuhamedov emphasised the need to further increase the volume of oil and gas production, ensure maximum utilisation of production capacities, stability of their operation, increase the efficiency of drilling operations, commissioning of new wells and introduction of advanced technologies, addressing relevant instructions to the Deputy Prime Minister.
The GDP of Turkmenistan grew by 6.3% from January to April of the current year
10.05.2025Turkmenistan's GDP grew by 6.3% year-on-year in January-April 2025, Deputy Prime Minister Khojamyrat Geldimyradov said at the Cabinet of Ministers meeting on 8 May, TDH reports. The largest increases were recorded in transport and communications (11.1%), trade (9.9%) and services (8.8%). Construction grew by 4.4 per cent, agriculture by 4 per cent and industry by 0.6 per cent. Total output increased by 9.7 per cent, retail turnover by 12.4 per cent and foreign trade by 2.2 per cent. Budget revenues were executed by 101.5 per cent, expenditures - by 97.6 per cent. The average wage at large and medium-sized enterprises increased by 11.5 per cent, while investment grew by 11.4 per cent. After hearing the report, President of Turkmenistan Serdar Berdimuhamedov instructed to ensure sustainable development of the economy and maintain positive GDP dynamics.
Turkmenistan and France are strengthening their partnership in advanced technological sectors
08.05.2025The official visit of the National Leader of the Turkmen People, Chairman of the Khalk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov to France has opened new prospects for Turkmen-French cooperation in advanced technological sectors. This was reported by IIC of Turkmenistan on 8 May. According to the source, a Memorandum of Understanding was signed between the ‘Türkmenaragatnaşyk’ agency and ‘Airbus Defence and Space SAS,’ which will allow Turkmenistan to intensify interaction with the world leader of aerospace industry in the field of space technologies and satellite communications. A framework agreement was also reached between the ‘Türkmenaragatnaşyk’ agency and the French company ‘Thales Alenia Space France’ to modernise Turkmenistan's national communications satellite ‘TürkmenÄlem’. The signing ceremony took place in Paris within the framework of the Turkmen-French Economic Forum, which emphasises the desire of Turkmenistan and France to strengthen mutually beneficial partnerships.
Turkmenistan will present agricultural products at exhibitions in Baku
07.05.2025Turkmen enterprises will take part in the largest agrarian and food exhibitions in Azerbaijan, where they will present their products and establish business contacts. Two significant international exhibitions - the 18th Caspian Agro and the 30th anniversary InterFood Azerbaijan - will be held at the Baku Expo Centre from 13 to 16 May 2025. Turkmenistan has confirmed its participation in these events, which will bring together about 450 companies from more than 30 countries. This is reported by IIC. This is a great opportunity for Turkmen producers to demonstrate the achievements of agriculture and food industry, find new partners and investors, study advanced technologies and experience of foreign colleagues. According to the representative of the organisers Bahruz Hidayatzade, the format of the event increased to four days will allow the participants to make the most effective use of time for business negotiations and establishment of promising contacts.
A number of agreements have been concluded between Turkmenistan and France
07.05.2025A number of significant bilateral documents were signed during the Turkmen-French Economic Forum held in Paris. In particular, the ‘Türkmenaragatnaşyk’ agency reached agreements with ‘Airbus Defence and Space SAS’ on cooperation in the field of telecommunications. This is reported by IIC. The Ministry of Agriculture of Turkmenistan signed an agreement with the French company ‘IGN FI’ on co-operation in the field of land cadastre. In the water sector, a memorandum of understanding was signed by the State Water Committee of Turkmenistan and the company ‘SUEZ International’. Of particular importance is the agreement between the State Concern ‘Türkmengaz’ and ‘SUEZ International’ on partnership in the gas industry. These documents create a solid basis for the development of long-term co-operation between Turkmenistan and France in key sectors of the economy.
The Turkmen company 'Senagat Plastik' has launched the production of new products
07.05.2025In Turkmenistan, entrepreneurs actively introduce modern technologies and develop industrial production. A striking example is Senagat Plastik, which has been operating in Turkmenbashi etrap for eight years. The enterprise specialises in processing of local raw materials and production of high-quality polyethylene and polypropylene products. This is reported by the Internet publication ‘Turkmenistan: Golden age’. The main products of the company are plastic pallets, which are widely used for loading and unloading operations and storage of goods. They are characterised by durability, resistance to chemical influences and practicality. Recently the company has expanded its product range by launching the production of polypropylene water filters using American-made equipment. These filters are already used in desalination plants. The expansion of production has created new jobs, which is in line with the state policy objectives of developing the industrial sector and the digital economy.
Turkmenistan has a system for the transition to a digital economy
06.05.2025In Turkmenistan, the ‘Single Window for Export-Import Transactions’ system, which has become one of the important steps on the way of the country's transition to a digital economy, is successfully fulfilling its functions. This was reported by the ‘Turkmenistan: Golden age’ news agency. According to the source, the system was developed by the State Customs Service of Turkmenistan in partnership with international organisations such as the United Nations Development Programme (UNDP) and the United Nations Conference on Trade and Development (UNCTAD). The platform brings together 24 ministries and sectoral agencies that issue permits for export, import and transit of goods In addition, more than 9,000 users have already registered and are receiving technical support. Since its launch, the system has demonstrated its efficiency by processing about 100,000 applications in 2024 and almost 58,000 in the first quarter of this year. The system has simplified foreign economic activities and strengthened Turkmenistan's position as a transit country.
Ashgabat will host an international conference on green energy technologies
05.05.2025On 5 June 2025, Ashgabat will host a significant event in the field of energy and ecology - International Scientific and Practical Conference "Environmental aspects of implementing innovative technologies in the development of hydrocarbon fields" (TESC 2025). The event, organised by the state concerns ‘Türkmengaz’ and ‘Türkmennebit’, is timed to coincide with the World Environment Day. This is reported by IIC of Turkmenistan. The conference under the motto ‘Reliable, Sustainable, Clean Energy’ will become an important platform for professional dialogue. Its goal is to share best practices, present environmentally friendly technologies and strengthen international cooperation in the field of sustainable development of the energy sector. Representatives of authoritative international organisations including the UN, OSCE, World Bank, EBRD, Asian Development Bank, Gas Exporting Countries Forum, International Energy Agency and IRENA are invited to participate. Government officials, leading scientists, industry experts and environmentalists are expected to attend. Special attention will be paid to developing practical solutions to minimise the environmental footprint of hydrocarbon production. Last year's forum was attended by 250 delegates from 31 countries, which demonstrates the growing relevance of the topic.
Turkmen goods will be presented at an exhibition in Iran
05.05.2025From 5 to 7 May 2025, the Iranian city of Gurgen will be the venue for a large-scale exhibition of Turkmen goods. The event will be attended by 12 state organisations of Turkmenistan and 50 member companies of the Union of Industrialists and Entrepreneurs of Turkmenistan. This is reported by the IIC of Turkmenistan. The exposition will introduce guests to a wide range of export-oriented products of various sectors of the Turkmen economy. Special emphasis will be placed on goods produced by private enterprises of Turkmenistan. The organisers note that the exhibition is designed to strengthen trade and economic cooperation between Turkmenistan and Iran, as well as to promote national products in the markets of the region. The event will become an important platform for establishing new business contacts and searching for potential partners. The exhibition in Gurgen continues the tradition of regular business forums between the two countries, demonstrating the dynamic development of bilateral economic relations.
Meetings on the development of the financial account were held in Ashgabat
02.05.2025From 28 April to 1 May 2025, a series of working meetings organized by the United Nations Development Programme (UNDP) together with the State Statistics Committee of Turkmenistan took place in Ashgabat. The events were held within the framework of a joint project aimed at strengthening the statistical and institutional capacity of the country, the IRC reports. The main focus was on the development of a financial account in accordance with the international standards of the System of National Accounts 2008 (SNA 2008). The discussions were attended by international consultant Peprone Margaryants, representatives of Turkmenstat, the Central Bank, the Ministry of Finance and Economy, and other specialized agencies. The working meetings were part of the project “Assistance in the development of the financial account for the implementation of SNA 2008”, which is implemented by UNDP in cooperation with national partners. The aim of the initiative is to contribute to the improvement of the state statistical system and to enhance the quality of monitoring of economic and financial processes.
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