On Tuesday, 25 June 2024, President of Turkmenistan Serdar Berdimuhamedov received Federal Minister for Industries and Production of Pakistan Rana Tanveer Hussain. The Minister conveyed greetings from President Asif Ali Zardari and Prime Minister Mian Muhammad Shahbaz Sharif to the Head of state, confirming Pakistan’s commitment to friendly relations with Turkmenistan. In turn, President Serdar […]
Turkmen-UAE Business Forum held in Ashgabat
On 25 June 2024, the Turkmenistan-United Arab Emirates Business Forum was held in Ashgabat at the Chamber of Commerce and Industry, which brought together representatives of government and business circles of the two countries. The event was attended by companies specializing in the fields of energy, digital technologies, trade, agriculture, food industry, construction and tourism, […]
President of Turkmenistan and UAE Minister of Economy discussed cooperation in Fuel and renewable energy sectors, transport
On Tuesday, 25 June 2024, President Serdar Berdimuhamedov received the Minister of Economy of the United Arab Emirates Abdulla bin Touq Al-Marri, who led his country’s delegation to participate in the Turkmenistan-UAE business forum. The Minister conveyed greetings to the head of Turkmenistan from the President of the United Arab Emirates, Sheikh Mohammed bin Zayed […]
National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan met with the UAE Minister of Economy
The national leader of Turkmen people Gurbanguly Berdimuhamedov met with the United Arab Emirates’ Minister of Economy Abdullah bin Touq Al-Marri to discuss expanding economic partnership between two nations. Minister Al-Marri conveyed greetings from UAE President Sheikh Mohammed bin Zayed Al Nahyan, highlighting the UAE’s desire for stronger ties with neutral Turkmenistan. Berdimuhamedov returned the […]
Turkmenistan, UAE Discuss Deepening Economic Ties
On June 25, 2024, Turkmenistan’s Foreign Minister Rashid Meredov held a meeting with Abdulla bin Touq Al-Marri, the United Arab Emirates’ Minister of Economy. The discussions focused on strengthening existing relations between the two nations. Specific proposals were put forward to increase trade turnover, diversify economic partnerships, and achieve mutually beneficial outcomes. The parties reaffirmed […]
Sharing Economy and Central Asia – Part Two
nCa Report CORDIS (Community Research and Development Information Service) is the European Commission’s primary public repository and portal to disseminate information on all European Union funded research projects and their results in the broadest sense. Cordis-EC Here is the take of CORDIS on sharing economy: Understanding the role of governance in the sharing economy A […]
Sharing Economy and Central Asia – Part One
nCa Report Until recently, Sharing Economy was a rather fluffy concept. Even now, it is not fully structuralized but the experts recognize it as a fast growing sector of the global economy. According to Nitya Shukla, writing for Business Guides, Sharing Economy (also called Collaborative Economy or Peer Economy) refers to economic activities which include […]
Integration in world economy could boost Central Asia’s trade
Countries in Central Asia can foster closer regional ties and increase trade amongst one another if they are all members of the World Trade Organization (WTO). This emerged at the second Central Asia Trade Policy Forum, held from 3-5 June 2024 in Almaty, Kazakhstan. It brought together senior representatives of the five Central Asian countries […]
Turkmenistan and Poland eye establishing a Working group on economic cooperation
On 17 June 2024, political consultations between the Ministries of Foreign Affairs of Turkmenistan and Poland was held in Warsaw. The Turkmen side was headed by Deputy Minister of Foreign Affairs of Turkmenistan Akhmet Gurbanov, the Polish side – by Deputy Minister of Foreign Affairs of the Republic of Poland Marek Pravda, the Ministry of […]
Turkmenistan’s new steps to protect intellectual property: expanding cooperation with the Eurasian Patent Office
During the Cabinet of ministers’ meeting on Friday (14 June) DPM, foreign minister Rashid Meredov presented plans for the development of cooperation between Turkmenistan and the Eurasian Patent Office (EAPO). Modernizing the national economy through technology and innovation is a top priority for Turkmenistan. Collaboration with specialized international and regional organizations, like the EAPO, is […]
Agricultural Forum of Turkmenistan held on the sidelines of Green Tech Amsterdam 2024 in the Netherlands
A dedicated session at the prestigious Green Tech Amsterdam 2024 exhibition explored exciting economic opportunities for Dutch companies in Turkmenistan’s agricultural sector. The event brought together key stakeholders, including representatives from Dutch and Turkmen business circles, the Turkmen Ministry of Agriculture, the Embassy of Turkmenistan, and leading European research and financial institutions. The following speakers […]
Uzbekistan, Korea Forge $9.6 Billion worth package of investment deals, Launch a new model of high-tech and innovative cooperation
Following a summit in Tashkent on June 14, 2024, President Yoon Suk Yeol of Korea and President Shavkat Mirziyoyev of Uzbekistan signed a series of agreements ushering in a “New Era of High-Tech and Innovative Cooperation” between the two nations. These agreements span vital sectors including critical minerals, rail transportation, agriculture, finance, and pharmaceuticals. “A […]
Kazakhstan Sees $120 Million Export Potential to Turkmenistan
During the meeting in Astana on 13 June 2024, Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev and Minister of Trade and Foreign Economic Relations of Turkmenistan Begench Gochmollayev exchanged views on a wide range of issues related to the development of trade and economic relations between the two countries. According to Kazakhstan’s Ministry […]
President Yoon Suk Yeol’s visit to Astana – South Korea and Kazakhstan signed dozens of agreements, MoUs and commercial deals worth over $430 million
South Korea and Kazakhstan signed more than 30 agreements on the sidelines of President Yoon Sok Yeol’s state visit to Astana. Following the summit talks with President of Kazakhstan Kassym-Jomart Tokayev, 11 documents on cooperation were signed, including: 1. Agreement on cooperation in the field of energy industry development; 2. Agreement on cooperation in the […]
Turkmenistan, S. Korea Eye Deeper Economic Partnership – S. Korean Firms Secured $5 Billion in Turkmenistan Projects over last decade
President of Korea Yoon Suk Yeol said that South Korea’s industrial know-how and technology, if combined with Turkmenistan’s abundant resources, can create economic synergy between the two countries particularly in sectors such as energy and resource development. The remarks were made at the joint Turkmen-Korean business forum in Ashgabat, which brought together 250 government and […]
Speech by the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov at the Turkmen-Korean Business Forum
Dear President of the Republic of Korea, Mr. Yoon Suk Yeol! Dear guests! Dear Forum members! Today we are hosting the Turkmen-Korean Business Forum, and I take this opportunity to express my gratitude to the President of the Republic of Korea, Mr. Yoon Suk Yeol, for participating in it and for paying special attention to […]
Turkmen-Korean business Forum held in Ashgabat
On 11 June 2024, a Turkmen-Korean business Forum was held in Ashgabat with the participation of the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov and President of the Republic of Korea Yoon Suk Yeol. More than 200 representatives of the public and private sectors took part in the forum. […]
Turkmenistan and Korea held summit talks in Ashgabat – a package of documents in the field of energy and investment cooperation signed
nCa Report On 10 June, 2024, summit talks were held in Ashgabat between President of Turkmenistan Serdar Berdimuhamedov and President of Korea Yoon Suk Yeol. During the talks, the heads of state discussed a wide range of issues of interstate cooperation, specifying its priorities taking into account the present realities and with a view to […]
12th meeting of the Joint Turkmen-Austrian Commission convened in Vienna
Vienna hosted the 12th meeting of the Joint Turkmen-Austrian Commission on 5 June 2024. Mergen Gurdov, Chairman of Turkmenistan’s Chamber of Commerce and Industry, led the Turkmen delegation. Over 70 representatives from both countries’ governments and businesses participated. The meeting focused on expanding cooperation across various sectors, including: innovative technologies in industry and energy, renewable […]
Turkmenistan and Japan prepare for meeting of joint committees on economic cooperation
Foreign Minister of Turkmenistan Rashid Meredov, who also heads the Turkmen-Japanese Committee for Economic Cooperation, held a videoconference with Hiroyuki Tsubai, Chairman of the Japanese-Turkmen Committee, on 6 June 2024, according to the Turkmen Foreign Ministry. During the meeting, the sides discussed issues of further development of bilateral relations, where they noted the high level […]
Turkmenistan and Korea held an online meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation
On June 3, 2024, Turkmenistan and Korea convened the 9th meeting of their Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation via videoconference. Rakhimberdy Djepbarov, Chairman of the Turkmen State Bank for Foreign Economic Affairs, led the Turkmen delegation. The Korean side was represented by Minister of Trade, Industry and Energy Dukgeun Ahn. Discussions […]
Turkmenistan: New Opportunities For the Italian Textile Machinery Industry
From June 24 to 28, a delegation of Italian textile machinery manufacturers will be engaged in Turkmenistan for an institutional mission organized by ACIMIT, the Association of Italian Textile Machinery Manufacturers, and Italian Trade Agency. The delegation will have some institutional and commercial meetings scheduled in Ashgabat. For the Italian textile machinery industry, the Turkmen […]
Iranian Business Delegation Explores Opportunities in Ashgabat
A 50-member Iranian business delegation, led by Ramezan Bahrami, Chairman of the Joint Turkmen-Iranian Chamber, visited Ashgabat to explore economic opportunities in Turkmenistan. According to the Iranian Embassy in Turkmenistan, the delegation held meetings with government officials, private sector representatives, and entrepreneurs. On the first day, the delegation, accompanied by Ambassador Ali Mojtaba Rozbahani, met […]
Putin’s visit to Tashkent – Uzbekistan and Russia to implement new cooperation projects worth $20 billion
On 27 May 2024 in Tashkent, President of Uzbekistan Shavkat Mirziyoyev and President of Russia Vladimir Putin chaired the first meeting of the Council of Regions of Uzbekistan and Russia. The forum became part of Putin’s three-day state visit to Uzbekistan. “Currently, over 200 joint projects worth $4 billion are being implemented at the regional […]
Kazakhstan and Turkmenistan Look to the Future: Digital Cooperation Takes Center Stage
Deputy Prime Minister, Minister of Foreign Affairs of Turkmenistan Rashid Meredov met with Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan Zhaslan Madiyev during an official visit to Astana. During the meeting, prospects for strengthening bilateral cooperation and exchanging experience in strategically important areas were discussed. Madiyev stressed that this […]
“Black Sea – Caspian Sea”: unlimited opportunities for friendship and partnership
Konstantin Sabiashvili, Ambassador Extraordinary and Plenipotentiary of Georgia to Turkmenistan This year, on May 26, Georgia celebrates the 33rd anniversary of the restoration of state independence. For centuries, the Georgian people have tirelessly fought for independence and the right to determine their own destiny. As you know, Georgian statehood dates back more than three thousand […]
Growing partnership between Kazakhstan and Singapore may become a bridge between Southeast Asia and Central Asia
On 23-24 May 2024, President of Kazakhstan Kassym-Jomart Tokayev paid his first state visit to Singapore, a country that is a strategic partner of Kazakhstan in Southeast Asia. This was the first visit in more than 20 years, but not the first visit for Tokayev personally. He previously served as a young diplomat in Singapore […]
President of Turkmenistan met with the Prime Minister of Kazakhstan
President Serdar Berdimuhamedov of Turkmenistan met with Prime Minister Olzhas Bektenov of Kazakhstan on 24 May 2024. Prime Minister Bektenov was in Turkmenistan for the regular meeting of the Council of Heads of Government of the Commonwealth of Independent States (CIS). The discussion encompassed a broad range of topics of the bilateral relationship. The sides […]
UNDP strengthens national trade capacity of Turkmenistan through digitalization in trade
The United Nations Development Programme (UNDP) and the Ministry of Trade and Foreign Economic Relations of Turkmenistan organized a two-day training titled “Developing Trade in a Competitive Environment and the Role of Digitalization as a Tool for Simplifying Trade Formalities”. The training was held as part of the ongoing joint project on “Strengthening the Trade […]
Trade and economic cooperation, humanitarian and regional ties under the spotlight at the meeting of Turkmenistan President and Russian Prime Minister
On Friday, 24 May 2024, President of Turkmenistan Serdar Berdimuhamedov received Chairman of the Government of the Russian Federation Mikhail Mishustin. During the meeting, the parties discussed prospects for the development of a wide range of cooperation, including in the economic and humanitarian spheres. “The growth of our trade and economic cooperation continues steadily. In […]
Situation of e-commerce in Central Asia
The Daryo.uz news service of Uzbekistan published on 13 March 2024 a report on the ecommerce situation in Central Asia. Here, we are reproducing the report in full: Central Asian countries consider establishing dedicated bank accounts for e-commerce transactions The e-commerce sector in Central Asia reached a value of $8bn in 2022, as per IMARC Group, a […]
Azerbaijan and Tajikistan elevate partnership to strategic level
On 23 May 2024, President of Azerbaijan Ilham Aliyev and President of Tajikistan Emomali Rahmon signed a Declaration on Strategic Partnership between the Republic of Azerbaijan and the Republic of Tajikistan in Baku. ” Our interaction rests on the determination of our peoples, who have been cooperating for centuries, have been friends, and have created […]
UNDP discussed long-term adaptation activities for the economy of Turkmenistan with key stakeholders
On 15 May 2024, in Ashgabat within the framework of the project “Developing a National Adaptation Planning Process in Turkmenistan” implemented by the United Nations Development Programme (UNDP) with the financial support of the Green Climate Fund (GCF) in cooperation with the Ministry of Environmental Protection of Turkmenistan, the roundtable for presentation of the draft […]
Central Asian economies to record strong growth despite natural disasters in the region
Anton Usov According to the latest Regional Economic Prospects (REP) report published by the European Bank for Reconstruction and Development (EBRD), Central Asian economies in 2024 are expected to see growth slowing to 5.4 per cent. However, a rebound to 5.9 per cent is expected in 2025. The report notes that intermediated trade with Russia, which had […]
Russia, Central Asia Boost Trade with National Currencies
Central Asian states conduct a significant portion of their foreign trade with Russia, accounting for 33% of the total volume. This statistic was revealed by Mikhail Galuzin, Russia’s Deputy Foreign Minister, during the opening ceremony of the Central Asian Conference held by the Valdai International Discussion Club in Bashkiria (TASS reported). “Russia remains a reliable […]
More Diversified Trade Can Make Middle East and Central Asia More Resilient
Jihad Azour Dislocations from the pandemic, geoeconomic fragmentation, and Russia’s war in Ukraine have shifted world trade dynamics. While this has created challenges, the redirection of trade has also generated new opportunities, particularly for the Caucasus and Central Asia. Since the war began, the region’s economies have shown continued resilience and trade activity in many […]
E-Commerce in Turkmenistan turning the corner
The ecosystem of e-commerce in Turkmenistan is turning the corner. Consumer confidence, the central element for success in the digital marketplace, is rising fast. Statista estimates that the volume of ecommerce in Turkmenistan will reach about USD 370 million this year. The projected annual growth is 8.06%, which will bring the trade volume of ecommerce […]
A new cement plant and a water treatment plant launched in Turkmenistan
On Wednesday, 8 May 2024, President Serdar Berdimuhamedov led the inauguration ceremony of new facilities in the Akhal province, including the second stage of the Baherden cement plant with a capacity of 1 million tons per year and a water treatment plant in the village of Yashlyk with a capacity of 30,000 cubic meters of […]
Turkmenistan and Afghanistan Strengthen Trade Ties with New Deals
During a recent visit to Herat, Afghanistan, a business delegation from Turkmenistan signed a series of contracts with Afghan entrepreneurs. The Ministry of Industry and Commerce of Afghanistan reports that ten contracts and two memoranda of understanding were finalized. These deals focus on the supply of building materials like steel rods, paints, marble, and various […]
Turkmenistan and Kazakhstan may expand trade through building materials and industrial products supplies
On 2 May 2024, Turkmenistan Ambassador Batyr Rejepov met with Kanat Sharlapayev, Kazakhstan’s Minister of Industry and Construction. Building upon the success of their strategic partnership, trade volume reached $563 million in 2023, reflecting a significant 22.5% increase compared to the previous year (according to Kazakhstan’s Ministry of Industry and Construction). During the meeting, the […]
International Islamic Trade Finance Corporation (ITFC) launches landmark Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum
The International Islamic Trade Finance Corporation (ITFC), member of Islamic Development Bank Group, is delighted to announce the launch of its newest flagship Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum. The aim of the Program is to facilitate economic growth and regional economic integration amongst the six Organisation of […]
ICIEC and Turkmenistan discuss issues of cooperation in the energy sector
Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan and Governor of the Islamic Development Bank from Turkmenistan Rahimberdi Jepbarov held talks in Riyadh with the Director of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Oussama Kaissi. The meeting took place on the sidelines of […]
Iranian Chamber Sees Untapped Potential in Trade with Turkmenistan
The trade turnover between Iran and Turkmenistan stands at US $ 450 million. However, bilateral trade between the two neighboring countries has significant potential. This was stated by the President of the Iranian Chamber of Commerce, Industry, Mines and Agriculture (ICCIMA) Samad Hassanzadeh in Tehran at a meeting on Saturday (27 April) with the Chairman […]
TEIF 2024: Turkmenistan’s liability to foreign creditors NOT exceed 5% of the country’s GDP – Foreign trade totaled at $ 18.99 billion in 2023
To date, the total Turkmenistan’s liability to foreign creditors does not exceed 5% of GDP. This was stated by Chairman of the Board, State Bank for Foreign Economic Affairs of Turkmenistan Rakhimberdy Jepbarov, speaking at the International Forum on Attracting Investments in the Energy Sector of Turkmenistan (TEIF 2024) in Paris. Jepbarov also noted […]
24,000 companies with Russian capital operate in Central Asian countries
At the Innoprom Central Asia exhibition in Tashkent, Russia’s Deputy Prime Minister, minister for industry and trade Denis Manturov emphasized the growing economic ties between Russia and Central Asia. He revealed that over 24,000 companies with Russian capital operate in the region, with combined investments exceeding $38 billion. According to the government representative, Russia retains […]
Advanced technologies, “green” energy, construction of “smart” cities – Turkmenistan and Germany explores the potential for future cooperation
On Wednesday, 24 April 2024, the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov met with Executive Director of the Eastern Committee of the German Economy Michael Harms. Arkadag Berdimuhamedov highlighted Germany’s significance as a key partner for Turkmenistan within the European Union. The discussion praised the success […]
IMF cautiously upbeat on economies of Caucasus and Central Asia
“Resilience in the global economy and easing global inflationary pressures are positive developments for economies in the Middle East and Central Asia. Overall growth is projected to strengthen to 2.8 percent in 2024 (from 2.0 percent in 2023) and 4.2 percent in 2025,” says the opening paragraph of the executive summary of the IMF Report […]
Kazakhstan and Kyrgyzstan Boost Trade Ties with $300 Million Deal
Business leaders from Kazakhstan and Kyrgyzstan struck a series of agreements worth $300 million during a major business forum held in Astana on 17 April 2024 The Ministry of Trade and Integration of the Republic of Kazakhstan reported this positive development. These deals encompass a variety of projects, including construction of solar power plants, development […]
Ambassador of Turkmenistan to Pakistan paid a courtesy call on PM Shehbaz Sharif
On Wednesday, 17 April 2024, Ambassador of Turkmenistan to Pakistan Atadjan Movlamov paid a courtesy call on the Prime Minister Muhammad Shehbaz Sharif. Prime Minister Sharif underscored the importance of expanding bilateral cooperation, particularly in trade, energy, and regional connectivity. “There is a need to enhance bilateral cooperation, particularly in the domains of trade, energy […]
Turkmenistan, Uzbekistan Hold Political Consultations in Tashkent
On 16 April 2024, political consultations between the Ministries of Foreign Affairs of Turkmenistan and Uzbekistan took place in Tashkent. The delegations were led by Rashid Meredov, Turkmenistan’s Foreign Minister, and his Uzbek counterpart, Bakhtiyor Saidov, according to a press release issued by the Turkmen Foreign Ministry. The ministers stressed the momentum in Turkmen-Uzbek relations, […]