Acting Foreign Minister of Afghanistan Amir Khan Muttaqi leading a delegation met with the Deputy Prime Minister, Minister of Foreign Affairs, Rashid Meredov in Ashgabat on Monday, 26 February 2024. The meeting focused on bilateral relations between Afghanistan and Turkmenistan, upgrading Afghanistan’s diplomatic presence in Ashgabat, and practically starting TAPI project in … [Read more...]
Turkmenistan’s foreign ministry hosted a meeting with an Afghan delegation led by Muttaqi
On February 26, 2024, in Ashgabat, a meeting was held between the Minister of Foreign Affairs of Turkmenistan Rashid Meredov and a delegation that arrived in Turkmenistan led by the acting Minister of Foreign Affairs of Afghanistan Amir Khan Muttaqi, consisting of representatives of various government agencies of Afghanistan, including the Ministry of Mining and Petroleum, … [Read more...]
Keynote Speech by the National Leader of the Turkmen people, Chairman of the Halk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov at a meeting of the Presidium of the Halk Maslakhaty of Turkmenistan
(Ashgabat, February 22, 2024) Dear participants of the meeting of the Presidium of the Halk Maslakhaty of Turkmenistan! Dear compatriots! Turkmens are a people who have formed an exemplary path of development and have shown the world outstanding personalities. This year in our country will be marked by celebrations on the occasion of the 300th … [Read more...]
Meeting of the Presidium of the Halk Maslahaty: Turkmenistan outlines steps for the comprehensive implementation of the Program of socio-economic development and investments in 2024
On 22 February 2024, National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov chaired a meeting of the Presidium of the Halk Maslahaty. The meeting’s agenda was focused on the tasks of implementing the "Program of socio-economic development of Turkmenistan and investments in 2024". The "Program of socio-economic … [Read more...]
Ambassador of Russia Ivan Volynkin hosted a briefing for the Russian media accredited in Turkmenistan
On 16 February 2024, Russian Ambassador to Turkmenistan Ivan Volynkin held a briefing for Russian media journalists accredited in Turkmenistan. Here are the answers of Ambassador Volynkin during the briefing, published on the official website of the Russian Embassy in Turkmenistan: How would you characterize the current level of relations between Russia and Turkmenistan? Are … [Read more...]
Embassy of Turkmenistan in France Hosts Meetings on Cultural Collaboration
On 14 February 2024, the Ambassador of Turkmenistan to France, Maksat Chariev, met with met with Jean-Marie Laronze, producer of Monde Et Media TV and Edouard Montoute, a French theater and film actor. This meeting builds upon their successful participation in the first "Dawn of Arkadag" International Film Festival held in Arkadag city last October, which brought together … [Read more...]
Tokayev’s first state visit to Qatar – Kazakhstan and Qatar inked 9 agreements and commercial deals worth $ 18 billion
On 13-14 February 2024, President of Kazakhstan Kassym-Jomart Tokayev made his first state visit to Qatar. In Doha, the head of Kazakhstan met with Sheikh Tamim bin Hamad Al Thani, as well as with the Prime Minister – Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani. Tokayev also had a series of meetings with representatives of Qatari business, took part … [Read more...]
EBRD Supports 22 Projects in Turkmenistan
The EBRD currently has 22 active portfolio projects in Turkmenistan, with a total value of €24 million, including undisbursed commitments. Industry, agrobusiness and commerce make up 100% of the current portfolio. As of 31 December 2023, the EBRD has invested in 87 projects in Turkmenistan. The cumulative Bank’s investment in Turkmenistan is €324 million. The EBRD has … [Read more...]
Keynote Speech by President Serdar Berdimuhamedov at an expanded meeting of the Cabinet of Ministers of Turkmenistan, 9 February 2024
Dear members of the Cabinet of Ministers! Dear participants of the meeting! As a result of the selfless work of our people in 2023 – the year of "Happy Youth with Arkadag Serdar" – we have achieved great success and fulfilled our plans. The development and implementation of laws corresponding to the realities of our time were continued. At the same time, a high rate of … [Read more...]
President of Turkmenistan approves program of socio-economic development of Turkmenistan and investments in 2024 – 6.3% GDP Growth, Increased Jobs, and Private Sector Boom
During an expanded Cabinet of ministers' meeting on Friday, 9 Feb 2024, the President of Turkmenistan approved the Program of socio-economic development and investments for 2024. The Program outlines the expected macroeconomic indicators this year, production plans for all sectors. In accordance with the document, it is planned to: maintain GDP growth at 6.3%; … [Read more...]
Turkmenistan’s Economy Shows Steady Growth in 2023: Key Indicators
On 9 February 2024, President of Turkmenistan Serdar Berdimuhamedov chaired an expanded meeting to analyze the key economic achievements of 2023. Deputy Prime Ministers, ministers, and provincial governors presented their reports. Government data revealed a robust 6.3% GDP growth in 2023. In the industrial complex, this indicator increased by 4.3%, in construction – by 2%, … [Read more...]
Turkmenistan’s Fertilizer Production Booms at Garabogaz Plant
The Garabogaz carbamide-ammonia plant in western Turkmenistan surpassed its target, producing over 1.032 million tons of fertilizer in 2023. As reported by the Turkmenistan newspaper, exports soared, making the plant a significant contributor to the national economy. The volume of work performed amounted to 806 million manats. More than 828 thousand tons of finished products … [Read more...]
Ambassador Akmaljon Kuchkarov hosted a press briefing – An overview of the current state of multidimensional Turkmen–Uzbek relations presented
On 5 February 2024, the Ambassador of Uzbekistan to Turkmenistan, Akmaljon Kuchkarov, hosted a briefing for Turkmen journalists and representatives of foreign media accredited in Ashgabat. The event was dedicated to the 583rd anniversary of the great Uzbek writer and thinker Alisher Navoi, who made a huge contribution to the development of Turkic literature. In addition, … [Read more...]
Turkmen business can occupy free market niches in Russia – Russian lawmaker
A member of the Russian parliament sees a significant opportunity for Turkmen businesses to occupy market niches vacated by foreign companies leaving the Russian market. During a meeting with the Turkmen Ambassador to Russia Esen Aydogdiyev, Vladimir Resin, a member of the State Duma Committee on Construction and Housing, emphasized the potential for Turkmen businesses to … [Read more...]
Fitch Affirms Turkmenistan at ‘B+’ with Outlook Positive
Fitch Ratings has affirmed Turkmenistan's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at 'B+' with a Positive Outlook. Here is a summary of the report: KEY RATING DRIVERS Fundamental Rating Strengths and Weaknesses: The rating is supported by Turkmenistan's extremely strong sovereign balance sheet, with the highest sovereign net foreign assets (SNFA)/GDP … [Read more...]
Turkmenabad Eyes Hosting Next Uzbekistan-Turkmenistan Business Forum
Uzbekistan and Turkmenistan are exploring the possibility of hosting the next interregional business forum in Turkmenabad, according to a recent meeting between Ambassador Akmaljon Kochkarov of Uzbekistan to Turkmenistan and Lebap province governor Shohrat Amangeldiyev, UzReport reports. Discussions focused on strengthening trade and economic ties between the bordering … [Read more...]
EBRD posts strong operational results in Central Asia in 2023
Anton Usov The European Bank for Reconstruction and Development (EBRD) invested more than €1.2 billion (US$ 1.3 billion) in projects across Central Asia in 2023 to stimulate the region’s sustainable and inclusive growth, which is expected to continue at a pace of 5.9 per cent in 2024. Last year the Bank financed more than 100 projects in sectors including renewable energy, … [Read more...]
Tajikistan invites Qatari investors to develop promising sectors of the economy
Unlocking the potential of trade and economic relations through investment and industrial development was one of the key topics of the recent state visit of President Emomali Rahmon of Tajikistan to Qatar. On 22 January 2024, Rahmon held summit talks with the Amir of Qatar Sheikh Tamim ibn Hamad Al-Thani, in Doha. During the meeting, the Tajik leader voiced several proposals … [Read more...]
Boosting Turkmen-Japanese Ties: Business Forum Planned in 2024
During a visit to Japan, a Turkmen delegation led by Foreign Minister Rashid Meredov held meetings with key figures in the Japanese business community - Chairman and CEO Norihoko Ishiguro of the Japan Foreign Trade Organization (JETRO) and Chairman and Executive Director Atsuo Kuroda of the Nippon Export and Investment Insurance Agency (NEXI). These discussions set the stage … [Read more...]
40% of investments in the economy of Kazakhstan come from the European Union
About 40% of the attracted investments in the economy of Kazakhstan come from the countries of the European Union. This was stated by Prime Minister of Kazakhstan Alikhan Smailov at a meeting with Vice-President of the European Commission Margaritis Schinas, held in Astana on 15 January. During the meeting, the sides discussed issues of increasing trade turnover, attracting … [Read more...]
Russia Eyes Deeper Investment Ties with Turkmenistan
Russia is interested in developing cooperation with Turkmenistan and is ready to implement joint projects, supply various products, and expand areas of investment cooperation. This was stated by Dmitry Volvach, Deputy Minister of Economic Development of Russia, during the 9th meeting of the High-level Group on Trade and Investment Support within the framework of the … [Read more...]
Trade between Turkmenistan and Uzbekistan exceeds $970 million
According to the Agency of Statistics under the President of Uzbekistan, trade between Turkmenistan and Uzbekistan amounted to $970.1 million in January-November 2023. Of this, exports of Uzbek products to Turkmenistan amounted to $106.5 million, while imports from Turkmenistan were $809.6 million. As the figures show, trade and economic relations between Turkmenistan and … [Read more...]
EDB: mutual direct investments among Central Asian countries grow at 9.2% per year on average over the past seven years
The volume of foreign direct investment (FDI) in Central Asia is estimated at US$ 1.1 billion by the end of the H1 2023, marking a 1.8-fold increase from 2016. This is stated in the report of the Eurasian Development Bank "EDB Monitoring of Mutual Investments 2023". EDB analysts note that by mid-2023, the volume of FDI from Eurasian countries reached US$48.8 billion, … [Read more...]
Turkmenistan’s trade turnover with the CIS countries exceeded $2.6 billion (Updated)
Turkmenistan's foreign trade turnover with the states of the Commonwealth of Independent States in January-October 2023 exceeded US $2.6 billion or 16.5% of the country’s total foreign trade turnover. This was stated by Deputy Chairman of the Cabinet of Ministers of Turkmenistan Khojamyrat Geldimyradov, speaking at a meeting of the Council of Heads of Government of the CIS … [Read more...]
Asian Development Bank slightly raises its 2023 forecast for economies of Caucasus and Central Asia
The Asian Development Bank (ADB) has slightly raised its economic forecast for economies in Caucasus and Central Asia 2023. The upward revision reflects an improved outlook for Kazakhstan and Tajikistan for 2023. The growth forecasts for the Caucasus and Central Asia are revised up to 4.8% for 2023 from September’s 4.6% projection and down to 4.6% from 4.7% for 2024, according … [Read more...]
Five Steps to Economic Resilience in the Caucasus and Central Asia
By Eugene Zhukov, Lyaziza Sabyrova, Roman Mogilevskii The ability of the economies of the Caucasus and Central Asia to effectively respond to external shocks critically depends on their cooperation in diversifying trade and transport routes. The right policies and development of the Middle Corridor is a key to success. In the last several years, the countries of the … [Read more...]
Parliament of Turkmenistan comments on the distribution of financial resources in the State Budget for 2024
Recently, the Parliament of Turkmenistan endorsed the Law on the State Budget for 2024. The newspaper "Turkmenistan" published the comments of the deputies of the Mejlis, which reveal some details on the fund distribution in the local budgets of the provinces, the city of Ashgabat and the city of Arkadag. Here are the key indicators mentioned in the commentary: … [Read more...]
Turkmen-German Business Forum in Berlin: Fostering Strategic Partnerships
On 20 November 2023, the Turkmen-German Business Forum, organized by the German Economy Eastern Committee, convened in Berlin The event brought together over 200 representatives from the private and public sectors of both countries. This high-level gathering served as a platform to explore mutually beneficial opportunities and strengthen economic ties between Turkmenistan … [Read more...]
Trade Between Turkmenistan and Uzbekistan Thrives, Reaching Nearly $940 Million
The economic partnership between Turkmenistan and Uzbekistan continues to flourish, as bilateral trade turnover soared to $939.1 million in January-October 2023, according to the Statistics Agency under the President of Uzbekistan. This remarkable growth underscores the deepening ties between the two nations. Uzbekistan's exports to Turkmenistan during this period reached … [Read more...]
Iran to Send Trade Representative to Turkmenistan
The Trade Promotion Organization of Iran (TPOI) will dispatch a trade representative to Turkmenistan within the next four months to foster stronger bilateral trade and economic ties, according to TPOI head Mahdi Zeighami. In an interview with IRNA, Zeighami emphasized the ongoing development of a comprehensive cooperation document between Turkmenistan and Iran, highlighting … [Read more...]
Tajikistan and Iran to boost ties with new agreements on transport, technology, and visa-free travel
On 8 November 2023, President of Tajikistan Emomali Rahmon and President of Iran Ibrahim Raisi held summit talks in Dushanbe. On the sidelines of negotiations, a package of 18 agreements on cooperation in a variety of fields, including transport, science and culture, sports, and information technology. Tajikistan expressed interest in implementing major joint projects … [Read more...]
17th Iran-Turkmenistan Joint Economic Commission to be held in Ashgabat Next Month
The 17th meeting of the Iran-Turkmenistan Joint Economic Commission will be held in Ashgabat on 17-18 November 2023, Tasnim reports. Iran's Minister of Roads and Urban Development Mehrdad Bazrpash, and Deputy Chairman of The Cabinet of Ministers of Turkmenistan and Minister of Foreign Affairs Rashid Meredov held a telephone conversation on Tuesday (10 Oct) to set the date of … [Read more...]
President of Turkmenistan met the Economy Minister of Azerbaijan – Jabbarov had a series of negotiations at the government of Turkmenistan
On Wednesday, 4 October, President Serdar Berdimuhamedov received Minister of Economy of Azerbaijan Mikail Jabbarov. President Serdar Berdimuhamedov noted that cooperation between Turkmenistan and Azerbaijan is developing very dynamically due to the significant potential of the two countries and their readiness for a long-term fruitful partnership. "Our countries … [Read more...]
Turkmenistan Prioritizes Agricultural Development
Turkmenistan attaches great importance to accelerating the industrialization of the national economy through the further dynamic development of the agricultural sector, the active introduction of digital technologies in agriculture, the development of innovative industry, and the close relationship between production and science. Deputy Prime Minister Tangryguly Atakhalliev, … [Read more...]
Economies of Central Asia demonstrate strong growth in the first half of 2023, EBRD says
Central Asian economies posted strong growth in the past year, driven by government spending, China’s reopening and its demand for Central Asian commodities, intermediated trade with, and exports to, Russia, as well as remittances and relocation of companies and individuals from Russia, according to the European Bank for Reconstruction and Development’s (EBRD) latest Regional … [Read more...]
Turkmenistan and Eurochambres consider prospects for establishing cooperation
On 20 September 2023, Sapar Palvanov, Ambassador of Turkmenistan to the Kingdom of Belgium, met with Vladimir Dlouhi, President of Eurochambres, and CEO Ben Butters to discuss prospects for cooperation. Ambassador Palvanov highlighted the numerous business opportunities in Turkmenistan and the potential for cooperation between Eurochambres and the Chamber of Commerce and … [Read more...]
ADB Projects Solid Growth but Rising Risks for Asia and Pacific
Economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are rising, according to a report by the Asian Development Bank (ADB). The region’s developing economies are forecast to grow 4.7% this year, a slight downward revision from a previous projection of 4.8%, according to Asian Development Outlook (ADO) September 2023, released … [Read more...]
Трапезников: Объемы внешней торговли Туркменистана показали значительный рост
Экономический обозреватель по Туркменистану Валентин Трапезников озвучил данные о росте показателей экспорта страны за первые пять месяцев 2023 года. Летом 2022 года Туркменистан, как и многие другие страны, начал постепенно отменять пандемийные ограничения, в том числе касающиеся торгово-экономических взаимоотношений с другими странами, в связи с этим объемы внешней … [Read more...]
ADB Supports Turkmenistan’s Development with $632.6 Million in Loans, Grants, and Technical Assistance
To date, ADB has committed 13 public sector loans, grants, and technical assistance totaling $632.6 million to Turkmenistan, says Bank’s updated fact sheet. In 2022, ADB topped up its transaction technical assistance portfolio by $225,000 to help prepare bankable projects in Turkmenistan. ADB advanced significantly with the processing of proposed projects including Improving … [Read more...]
Turkmenistan: Rapid development of the industrial and construction complex
Baymyrat Annamammedov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan In the era of the Revival of a new epoch of a powerful state, our Motherland, under the wise leadership of President Serdar Berdimuhamedov, confidently following the course of progress and prosperity, turned into a steadily developing state. The successes of the country achieved during the years … [Read more...]
EBRD report: Anti-Russian sanctions boost Central Asian economies
The countries of Central Asia and the South Caucasus have made impressive progress in developing trade through the intermediary trade of goods from Western countries to Russia. After the introduction of sanctions, the EU's trade turnover with Russia's eastern neighbors increased many times, as did their trade with Russia. Trade turnover within the EAEU increased by 40%in … [Read more...]
Azerbaijan, Uzbekistan set up Supreme Interstate Council – Baku and Tashkent aim to bolster ties in transport, energy
President of Uzbekistan Shavkat Mirziyoyev is on a two-day state visit to Azerbaijan. This is the first foreign visit of the Uzbek leader after his re-election to the presidency. Following the summit talks in Baku on 22 August 2023, President Mirziyoyev and President of Azerbaijan Ilham Aliyev signed an agreement on the establishment of the Supreme Interstate Council between … [Read more...]
Central Asia and impending avalanche of corporate debt maturities in the USA
nCa Analysis There is the impending avalanche of the corporate debt maturities in the USA. It will create a mix of challenges and opportunities for Central Asia. First, let us look at the issue of the corporate debt maturities in the USA. Goldman Sachs predicts that corporate debt maturities will be US$230 billion for the rest of 2023, US$790 billion in 2024, and US$1.07 … [Read more...]
Central Asia presents huge opportunities for UK exporters –Trade Commissioner Kenan Poleo
Central Asia is one of the most dynamic and rewarding regions for British businesses. This region, with its fast-growing and diversifying economies, presents huge opportunities for UK exporters and has a vital role to play in helping Great Britain reach exporting ambition. This was stated by UK Trade Commissioner for Eastern Europe and Central Asia Kenan Poleo in interview with … [Read more...]
Central Asian countries seek to boost digital economy cooperation – Central Asia’s GDP is growing faster than the world economy
On 14 September 2023, the Economic Forum of Central Asian Countries on the topic "Digital Economy, E-commerce and Innovations" was held in Dushanbe. The forum was attended by a delegation of Turkmenistan headed by the Minister of Economy and Finance of Turkmenistan Serdar Jorayev. The Turkmen delegation included heads and representatives of a number of ministries and … [Read more...]
EBRD Supports 22 Projects in Turkmenistan
The European Bank for Reconstruction and Development (EBRD) currently has 22 active portfolio projects in Turkmenistan, with a total value of €28 million. Industry, agrobusiness and commerce make up 95% or €27 million of the current portfolio, while financial institutions’ share is 5 %. As of 31 July 2023, the EBRD has invested in 87 projects in Turkmenistan. The … [Read more...]
Global Times: BRI’s emphasis on environmentally friendly practices has benefited Central Asia countries
An aerial view of China built Turgusun hydropower station in city of Altai, Kazakhstan. Photo: Xinhua For ten years, China and Central Asian countries have been more tightly bonded together through cooperation in the traditional energy section under the Belt and Road Initiative (BRI). However, the rise of Chinese companies specializing in renewable energy and scientific … [Read more...]
IMF: How More Effective Monetary Policy Can Tame Inflation in the Caucasus and Central Asia
By Maria Atamanchuk, Klakow Akepanidtaworn, Ezequiel Cabezon, Tigran Poghosyan, and Selim Cakir August 28, 2023 Addressing persistent inflation also requires tackling structural factors that are making monetary policy less effective Inflation has remained stubbornly high, exceeding central banks’ targets in most Caucasus and Central Asia (CCA) countries. Inflation rates are … [Read more...]
Parliament of Turkmenistan ratifies the Agreement with Turkey and Azerbaijan on trade and economic cooperation
During the session on Saturday, 3 June, the Parliament of Turkmenistan adopted the Law "On ratification of the Agreement between the Government of Turkmenistan, the Government of the Republic of Azerbaijan and the Government of the Republic of Turkey on trade and economic cooperation". The trilateral agreement is aimed at enhancing friendly relations between the parties, … [Read more...]
President of Turkmenistan and the Governor of St. Petersburg discuss prospects for cooperation in the economic and humanitarian spheres
Today, on 11 September, President of Turkmenistan Serdar Berdimuhamedov received the Governor of St. Petersburg Alexander Beglov, who is on visit to Ashgabat at the head of an official delegation. During the conversation, the pace of cooperation and promising projects were discussed, the press service of the administration of St. Petersburg reports. "The Government of St. … [Read more...]