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Turkmenistan intends to develop strategic partnership with German banks
31.10.2025Turkmenistan is seeking strategic and mutually beneficial cooperation with German financial institutions. The volume of joint projects with German banks has already reached about $700 million, said Serdar Yusupov, Deputy Head of the International Finance Department of the State Bank for Foreign Economic Affairs of Turkmenistan, at the Days of Turkmenistan's Economy in Germany, according to the news website Turkmenportal. S. Yusupov emphasised the reliability of partnerships with institutions such as Deutsche Bank, Commerzbank and the export credit agency Euler Hermes in implementing projects in key sectors of the country's economy, from textiles and medical industry to the oil and gas sector. S. Yusupov noted the development of Turkmenistan's banking system, which offers corporate and retail loans, trade and project financing, bank cards, international payments and transfers. The country's banks are integrated into the national system of the Central Bank, SWIFT and the global payment networks VISA and Mastercard, comply with international standards for combating money laundering, terrorist financing and corruption, as well as the sanctions regimes of the UN, the US, the EU and the G7. Turkmenistan intends to deepen its integration into the global economy and is open to new joint projects with Germany in the areas of financial services, investment, documentary business, trade finance, digitalisation of banking infrastructure and personnel training. The Turkmenistan Economy Days are being held on 30–31 October in Frankfurt am Main, organised by the Chamber of Commerce and Industry of Turkmenistan and TMT Consulting Group.
Turkmenistan maintains steady growth and low external debt at the end of 2024
31.10.2025At the end of 2024, Turkmenistan's external debt amounted to 4.1% of GDP, while there has been no internal debt since January 2022. This was announced by the country's Deputy Minister of Finance and Economy, Babaniyaz Yalakov, at the Days of Turkmenistan's Economy in Germany, according to the news website Turkmenportal. The republic's GDP in 2024 exceeded $68.7 billion, and economic growth remained at 6.3%. Investments in the economy reached $12.1 billion, which is 9% more than a year earlier. The volume of foreign investments grew by almost a quarter to $1.4 billion, or 11.6% of the total investment volume. The main areas for investment remain the oil and gas sector, the chemical industry, energy, construction and the agro-industrial complex. Inflation at the end of 2024 was 3.8%, and at the end of the first three quarters of 2025, it was 3.9%. Turkmenistan's foreign trade turnover reached $19.7 billion in 2024, with exports exceeding imports. Exports are dominated by hydrocarbons and manufacturing products, while supplies of electricity, fertilisers, construction materials and textiles are also growing. B. Yalakov noted that the development of non-hydrocarbon sectors of the economy is supported by the introduction of innovative technologies and digital solutions that increase the efficiency and competitiveness of national industry. The forum is being held on 30–31 October in Frankfurt am Main and is organised by the Chamber of Commerce and Industry of Turkmenistan and TMT Consulting Group.
A project to finance biodiversity has been launched in Turkmenistan
31.10.2025An introductory seminar for a new UNDP project in Turkmenistan, ‘Umbrella Programme to Support Development of Biodiversity Finance Plans’, was held in Ashgabat. This was reported by the news website Turkmenportal. The initiative, funded by the Global Environment Facility (GEF) and implemented by UNDP in collaboration with the Ministry of Environment of Turkmenistan, aims to create a national Biodiversity Finance Plan in line with the objectives of the Convention on Biological Diversity and the Global Biodiversity Framework. Participants discussed the country's priorities in the field of nature conservation, funding needs and ways to attract public and private resources. Particular attention was paid to aligning national measures with the Kunming-Montreal Framework, which calls for reducing the global funding gap for ecosystem protection through innovative financial solutions. The project is being implemented in a number of countries and aims to develop sustainable financing mechanisms, integrate environmental priorities into national strategies, and promote ‘green’ investments that contribute to a sustainable, nature-oriented future.
Turkmenistan is actively developing its economy, environment and culture
31.10.2025On 29 October, events in the fields of economics, ecology and culture took place in Turkmenistan, according to the news website Asmannews. In Ashgabat, ‘Turkmen Gala’ signed an agreement with the international company ‘Emerson’ on the implementation of digital and automated solutions in the oil and gas industry, which should contribute to the modernisation of the energy sector, job creation and export expansion. The capital also hosted a seminar on the Global Methane Pledge (GMP) initiative, dedicated to reducing methane emissions and the rational use of natural resources, with an emphasis on climate adaptation and environmental sustainability. The cultural programme was complemented by a concert entitled ‘Music of Peace and Hope’, timed to coincide with the 80th anniversary of the UN, featuring artists of different generations and people with disabilities, which became a symbol of unity and humanism. The events highlighted Turkmenistan's commitment to developing its economy, environment and culture, strengthening cooperation and adhering to the principles of sustainable growth.
Turkmenistan strengthens international cooperation within UNESCO
31.10.2025The 43rd UNESCO General Conference is being held in Samarkand (Uzbekistan). On 29 October, the 12th Interregional Meeting of National Commissions for UNESCO was held within the framework of the conference. Turkmenistan was represented at the meeting by Chynar Rustemova, Executive Secretary of the National Commission of Turkmenistan for UNESCO, according to the news agency ‘Turkmenistan: Golden age’. The event was attended by UNESCO Deputy Directors-General, heads of the organisation's departments and representatives of the national commissions of member countries. Welcoming speeches were made by UNESCO First Deputy Director-General Xing Qu, representatives of the UNESCO leadership and the National Commission of Uzbekistan. The meeting programme included four sessions devoted to youth and sustainable development, cultural heritage and tourism, partnerships between national commissions, and the promotion of science and inclusion. Ch. Rustemova spoke at the third session, highlighting the priorities of the National Commission of Turkmenistan and the importance of international cooperation in achieving the Sustainable Development Goals. She noted Turkmenistan's contribution to strengthening mutual understanding and developing cooperation in the fields of education, science, culture and communication. Participants discussed reports, joint initiatives and ways to improve interaction between regional structures and national commissions. The meeting confirmed the desire of member countries to actively participate in the implementation of UNESCO programmes and to contribute to the strategic renewal of the organisation.
Turkmenistan and Lithuania discussed strengthening cooperation
30.10.2025On 29 October 2025, during his visit to Lithuania, Deputy Foreign Affairs Minister of Turkmenistan Ahmet Gurbanov met with Deputy Foreign Affairs Minister of the Republic of Lithuania Vidmantas Verbickas. This was reported by the press service of the Foreign Affairs Ministry of Turkmenistan. The interlocutors discussed the current state and prospects for the development of bilateral cooperation in the political, economic and humanitarian spheres. Particular attention was paid to the organisation of high-level meetings and the strengthening of interparliamentary dialogue, including the holding of the first session of the Turkmen-Lithuanian friendship group. The parties noted productive interaction within the framework of the EU and the UN, and also considered issues of trade and economic partnership, emphasising the importance of the work of the Intergovernmental Commission on Economic Cooperation. The development of transport and logistics links and the expansion of humanitarian contacts in the fields of education, science, sport and tourism were discussed separately. The diplomats also discussed preparations for the International Forum on Peace and Trust, which will be held on 12 December in Ashgabat in honour of the 30th anniversary of Turkmenistan's neutrality and the International Year of Peace and Trust.
Turkmenistan presented its approach to developing clean energy in Central Asia
30.10.2025The GIZ representative office hosted a dialogue between energy sector leaders from Central Asian countries and representatives of the EU and GIZ. This was reported by the online publication ‘Business Turkmenistan’. The main topic of the round table was strengthening regional cooperation in the field of renewable energy, electricity trade and cross-border interaction. Sapar Palvanov, Turkmenistan's Ambassador Extraordinary and Plenipotentiary to Belgium, noted the country's dual responsibility as an energy powerhouse to ensure consistent energy supplies to the region and to fulfil its climate commitments by promoting sustainable development. Turkmenistan consistently promotes the principles of clean energy, innovation and regional connectivity in line with the Sustainable Development Goals.
Turkmenistan announced initiatives to strengthen peace at a round table in Pakistan
30.10.2025On 28 October, ‘The Gulf Observer’ news agency, in conjunction with the Embassy of Turkmenistan in Pakistan, held a round table discussion to mark the 30th anniversary of Turkmenistan's neutrality in the International Year of Peace and Trust. The event was moderated by Muhammad Ali Pasha, Head of ‘The Gulf Observer’, according to the press service of the Turkmen diplomatic mission. The discussion was attended by UN Resident Coordinator in Pakistan Mohamed Yahya, Pakistani journalists, experts and representatives of think tanks. They noted that Turkmenistan's foreign policy serves as an example of a constructive approach to strengthening peace and trust in the region and the world. The country continues to adhere to a peaceful course, supporting dialogue and conflict prevention. Atajan Movlamov, Ambassador Extraordinary and Plenipotentiary of Turkmenistan to the Islamic Republic of Pakistan, spoke about the country's 30-year path of neutrality and its initiatives in the International Year of Peace and Trust. The participants of the round table confirmed Turkmenistan's commitment to a permanent neutrality policy and its positive role in strengthening global peace and trust.
Student from Turkmenistan recognised as the best among Turkic peoples
30.10.2025A student from Turkmenistan studying at the Higher School of Education of the L.N.Gumilyov Eurasian National University in Astana (Kazakhstan), won the international competition ‘Best Student of the Turkic Peoples,’ organised by the National Innovation Research Centre ‘Bilim-orkenieti’ in Kazakhstan. This was reported by the online news resource TerraNews. He was awarded a first-class diploma, a medal and a cup, according to the press service of the Ministry of Education of Turkmenistan. H. Parrykov has already achieved great success: in December 2023, he won the ‘Kultegin’ scholarship, and in March 2025, he received a first-degree diploma and the ‘Best Student of Central Asia’ cup. In September 2025, the student also became a prize-winner of the CIS competition within the framework of an international conference in Uzbekistan, where he was awarded the ‘Milliy Iftixor’ (‘National Pride’) medal, a certificate and a commemorative plaque. Hemra Parrykov is a native of the Gubadag etrap of Dashoguz velayat and continues to successfully represent Turkmenistan at international educational events.
A concert was held in Ashgabat to mark the 80th anniversary of the United Nations
30.10.2025The Magtymguly National Music and Drama Theatre hosted a concert entitled ‘Music of Peace and Hope’ dedicated to the 80th anniversary of the United Nations. The event was organised by the UN Office in Turkmenistan with the support of the Ministry of Culture. This was reported by the news website Turkmenportal. UN Resident Coordinator Dmitry Shlapachenko emphasised the importance of the values of peace, equality and solidarity, thanking the government and UN agencies for their joint work on the Sustainable Development Goals. The concert featured performances by the State Choir and Symphony Orchestra of Turkmenistan and the Ashgabat Music Schools Children's Choir. The concert featured performances of ‘Heal the World,’ ‘The Song of Peace,’ ‘What a Wonderful World,’ ‘May There Always Be Sunshine,’ the UNICEF lullaby, and an excerpt from Vivaldi's ‘The Four Seasons: Winter.’ Some of the performances were accompanied by sign language. The evening ended with a joint performance of ‘We are the World.’
Turkmenistan and Italy sign agreement on partnership in energy sector
30.10.2025Turkmenistan and Italy have signed agreements on cooperation in the fields of communications, cybersecurity and energy following the Turkmen-Italian Business Forum attended by President Serdar Berdimuhamedov, according to the news website Turkmenportal. The forum discussed strategic areas, including energy and transport, as well as prospects for joint projects in the oil and gas industry and the development of transport and transit infrastructure. The following agreements were signed: a Confidentiality Agreement between the State Cybersecurity Service under the Ministry of Communications of Turkmenistan and ‘Leonardo-Societa per azioni’, as well as Memoranda of Understanding between the Ministry of Communications of Turkmenistan and ‘Leonardo-Societa per azioni’, and between the Ministry of Energy of Turkmenistan and ‘Pietro Fiorentini S.p.A.’ In addition, an exhibition of Turkmen products was held as part of the forum.
Turkmenistan and GIZ strengthen cooperation in the field of climate resilience
30.10.2025A ceremony was held in Ashgabat to sign protocols to the Memoranda of Understanding with the German Agency for International Cooperation (GIZ). This was reported by IIC. The documents are aimed at developing cooperation within the framework of the regional programmes ‘Climate Risk Management in Central Asia’ and ‘Integrated and Climate-sensitive Land Use in Central Asia’. The protocols were signed by the Minister of Environmental Protection of Turkmenistan, Charygeldi Babaniyazov, and the GIZ coordinator in the country, Joachim Fritz. The event was attended by representatives of the Ministry of Foreign Affairs, environmental organisations and heads of GIZ climate programmes. Ch. Babaniyazov noted the high level of partnership with GIZ and expressed hope for further strengthening of cooperation. J. Fritz emphasised the importance of joint efforts in the field of sustainable natural resource management and climate change adaptation. GIZ programmes contribute to the development of regional cooperation, the exchange of experience and the introduction of effective land use practices that take into account local conditions and aim to reduce climate risks.
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